Packaging Corporation of America (PKG) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Upon conclusion of his narrative, there will be a Q&A session. I'll now turn the call over to Mr. Coltan. Please proceed when you are ready. Thanks for the introduction, Jamie. Good morning, everyone, and thank you all for joining us today in participating in PacGen Corporation of America's fourth quarter 2025 earnings release conference call. Again, I'm Mark Holzan, Chairman and CEO of PCA, and with me on the call today is Tom Hasfurther, our President, and Kent Flutter, our Chief Financial Officer. I'll begin the call with an overview of our fourth quarter results, and then I'll be turning the call over to Tom and Kent, who will be providing more details. After that, I'll wrap things up, and then we'll be glad to take questions. Yesterday, we reported fourth quarter net income of $102 million, or $1.13 per share. Excluding the special items, fourth quarter 2025 net income was $209 million or $2.32 per share compared to the fourth quarter of 2024's net income of $222 million or $2.47 per share. Fourth quarter net sales were $2.4 billion in 2025 and $2.1 billion in 2024. Total company EBITDA for the fourth quarter excluding special items was $486 million in 2025 and $439 million in 2024. Excluding special items, we also reported full year 2025 earnings of $888 million or $9.84 per share compared to 2024's earnings of $815 million or $9.04 per share. Net sales were $9 billion in 2025 and $8.4 billion in 2024. Excluding special items, total company EBITDA in 2025 was $1.86 billion and $1.64 billion in 2024. Fourth quarter net income included special items expense of $1.19 per share primarily for the Wallula Mill restructuring charges, as well as costs relating to the acquisition and integration of the Greif Container Board business and costs related to the closure of c...