Packaging Corporation of America (PKG) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for joining Packaging Corporation of America's second quarter of 2025 Earnings Results Conference Call. Your host today will be Mark Kolzan, Chairman and Chief Executive Officer of PCA. Upon conclusion of his narrative, there will be a question and answer session. I'll now turn the conference call over to Mr. Kolzan. Please proceed when you're ready. Thank you, Joe. Good morning, everyone, and thank you all for participating. participating in Packaging Corporation of America's second quarter 2025 earnings release conference call today. I'm Mark Holzan, Chairman and CEO of PCA, and with me on the call today is Tom Hasfurther, President, and Kent Flutterer, our Chief Financial Officer. I'll begin the call with an overview of our second quarter results, and then I'm going to be turning the call over to Tom and Kent, who will provide further details. I'll be then wrapping things up, and then we'll be glad to take questions. Yesterday, we reported second quarter net income of $242 million or $2.67 per share. Excluding the special items, second quarter 2025 net income was $224 million or $2.48 per share compared to the second quarter of 2024 net income of $199 million or $2.20 per share. Second quarter net sales were $2.2 billion in 2025 and $2.1 billion in 2024. Total company EBITDA for the second quarter, excluding the special items, was $451 million in 2025 and $404 million in 2024. Second quarter net income included special items income of 19 cents per share primarily for gains on the sale of real estate for corrugated products facilities that were previously closed, which were partially offset by costs relating to the pending acquisition of Greif Container Board business. Details of the special items for both the second quarter of 2025 and 2024 were included...