Packaging Corporation of America (PKG) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone. Thank you for joining Packaging Corporation of America's first quarter 2025 earnings results conference call. Your host today will be Mark Colzan, Chairman and Chief Executive Officer of PCA. Upon conclusion of his narrative, there will be a Q&A session. I would now like to turn the conference call over to Mr. Colzan. Please proceed when you are ready. Thank you, Jamie. Thank you, Jamie. Good morning, everyone, and thank you all for participating in Packaging Corporation of America's first quarter 2025 earnings release conference call. Again, I'm Mark Colzan, Chairman and CEO of PCA, and with me on the call today is Tom Hasfurther, President of PCA, and Bob Munday, our Chief Financial Officer. I'll begin the call, as usual, with an overview of the first quarter results, and then I'm going to turn the call over to Tom and Bob, who will provide further details. After that, I'll wrap things up, and then we'll be glad to take questions. Yesterday, we reported first quarter net income of $204 million or $2.26 per share. Excluding special items, first quarter 2025 net income was $208 million or $2.31 per share compared to the first quarter of 2024 net income of $155 million or $1.72 per share. First quarter net sales were $2.1 billion in 2025 and 2 billion in 2024. Total company EBITDA for the first quarter excluding special items was $421 million in 2025 and $333 million in 2024. First quarter net income included special items expenses of 5 cents per share, primarily for the closure costs related to corrugated products facilities. Details of special items for both the first quarter of 2025 and 2024 were included in the schedules that accompanied the earnings press release. Excluding the special items, the 59 cents per share increase in first quarte...