The company’s gross profit for the quarter dropped marginally. Credit: JHVEPhoto via Shutterstock.

Packaging Corporation of America (PCA), a containerboard and corrugated packaging products supplier, has reported a net income of $198.9m in the second quarter (Q2) of financial year 2024 (FY24), down from $202.7m in the same period last year.  

The company’s diluted earnings per share also saw a marginal drop to $2.21 in Q2 FY24 from $2.24 in Q2 FY23.  

Go deeper with GlobalData

Go deeper with GlobalData

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

Despite this, second-quarter net sales showed an increase to $2.07bn compared to $1.95bn in the corresponding quarter of 2023. 

The company’s gross profit for the quarter was reported at $437.7m, slightly down from $444.7m in Q2 FY23.  

In the company’s Packaging segment, corrugated products shipments per day were up by 9.2% over the previous year’s second quarter, with total shipments increasing by 10.9%, factoring in one additional shipping day.  

Containerboard production hit 1,281,000 tons (t), with inventory levels rising by 16,000t compared to Q2 2023.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

In PCA’s Paper segment, sales volume rose 12% compared to the second quarter of 2023 but experienced an 8% decrease when compared to Q1 2024.  

PCA chair and CEO Mark Kowlzan said: “The quarter reflects our strong market conditions in the Packaging segment. This drove a new all-time containerboard production record in order to service corrugated products and containerboard demand which grew stronger each month, ending with a new corrugated shipments-per-day record for the month of June. 

“We were also able to build some inventory ahead of what we expect to be a busy second half of the year. Packaging segment prices and mix moved higher from first-quarter levels as we continue to implement our announced price increases.” 

PCA has a network of eight mills and 86 corrugated products plants and related facilities. 

Packaging Gateway Excellence Awards - Nominations Closed

Nominations are now closed for the Packaging Gateway Excellence Awards. A big thanks to all the organisations that entered – your response has been outstanding, showcasing exceptional innovation, leadership, and impact.

Excellence in Action
Oxipack’s deterministic vacuum decay systems have earned multiple awards, recognising breakthroughs in leak detection machinery and waste prevention. Learn how Oxipack is helping manufacturers protect product quality, support recyclable and paper-based formats, and improve line efficiency with fast, non-destructive testing.

Discover the Impact