Packaging Corp Of America

Company facts

Industry

Paperboard Containers & Boxes

Headquarters

Lake Forest, Illinois

Most recent report

10-Q, filed Nov 5, 2026

Incorporated

N/A

Filings on record

1,000+ filings

On EDGAR

CIK 75677

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Sep 2026 10-Q

SECSift found 2 of 13 sections worth reading, with 3 positive, 9 notable, and 2 negative flags.

• Financial Statements (Item 1)

  New antitrust class action and DOJ subpoena; Greif acquisition final allocation; Wallula mill restructuring charges.
  Notable

  • Wallula mill shutdown generated $60M of pre-tax charges in nine months ended September 30, 2026, including $58.1M accelerated depreciation.
  • Greif acquisition purchase price allocation finalized; $34.1M measurement period adjustment increased goodwill to $484M.
  • Related-party sales to Boise Cascade via LTP: $63.6M in nine months ended September 30, 2026, up from $54.3M in prior year.
  Negative

  • Antitrust class action and DOJ subpoena over containerboard pricing; court denied motion to dismiss. Outcome uncertain.
  • DOJ grand jury subpoena received in late September 2026 requesting documents related to PCA's business.

• Management's Discussion (Item 2)

  MD&A with acquisition results, segment detail, and forward guidance on earnings and costs.
  Positive

  • Q3 2026 net income excluding special items rose to $272M ($3.04/diluted share) from $247M ($2.73).
  • Packaging segment EBITDA excluding special items rose to $578M in Q3 2026 from $492M in Q3 2025.
  • Q3 2026 net sales up 12.5% to $2.60B, driven by Greif acquisition and higher prices.
  Notable

  • Q3 2026 special items expense $10M (facility closures, fire, integration, Wallula restructuring).
  • Q3 2026 corrugated product shipments up 10.6% per day; legacy PCA shipments down 0.5% per day.
  • Q3 2026 Paper segment EBITDA excluding special items fell to $34M from $40M due to higher maintenance costs.
  • Management expects Q4 2026 earnings to be lower than Q3 due to higher costs and seasonal factors.
  • Q3 2026 interest expense net rose $13M to $32.3M due to Greif acquisition financing.
  • Nine months 2026 capital investments $618M, expected full-year $865M-$890M.

What changed: Sep 2026 vs. Jun 2026

About 5% of PKG's Sep 2026 10-Q is new information. 14 paragraphs were added, 132 changed, and 27 removed. Below are the most important lines SECSift identified.

• Item 2 66
• Item 1 45
• Item 4 2
• Item 5 1