{"id":1012372,"date":"2026-10-21T18:50:48","date_gmt":"2026-10-21T22:50:48","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/packaging-corporation-of-america-reports-third-quarter-2026-results\/"},"modified":"2026-10-21T18:50:48","modified_gmt":"2026-10-21T22:50:48","slug":"packaging-corporation-of-america-reports-third-quarter-2026-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/packaging-corporation-of-america-reports-third-quarter-2026-results\/","title":{"rendered":"Packaging Corporation of America Reports Third Quarter 2026 Results"},"content":{"rendered":"

<\/p>\n

Packaging Corporation of America Reports Third Quarter 2026 Results<\/b><\/p>\n

LAKE FOREST, Ill.–(BUSINESS WIRE<\/a>)–
\nPackaging Corporation of America (NYSE: PKG) today reported third quarter 2026 net income of $262 million, or $2.93 per share, and net income of $272 million, or $3.04 per share, excluding special items. Third quarter net sales were $2.6 billion in 2026 and $2.3 billion in 2025.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

Diluted earnings per share attributable to Packaging Corporation of America shareholders<\/span><\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Three Months Ended<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

September 30,<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

2026<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

2025<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Change<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nReported Diluted EPS<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n2.93<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n2.51<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n0.42<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nSpecial Items Expense (1)<\/sup><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n0.11<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n0.22<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(0.11<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n

\nDiluted EPS excluding Special Items (2)<\/sup><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

$<\/b><\/p>\n<\/td>\n

\n

3.04<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

$<\/b><\/p>\n<\/td>\n

\n

2.73<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

$<\/b><\/p>\n<\/td>\n

\n

0.31<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

(1)<\/sup> For descriptions and amounts of our special items, see the schedules with this release.<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

(2)<\/sup> Diluted EPS excluding Special Items is a non-GAAP financial measure. For information regarding our use of non-GAAP financial measures and descriptions and amounts of our special items, see the schedules with this release.<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\nReported earnings in the third quarter of 2026 include special items primarily for facility closure costs, acquisition and integration-related costs, the impact of a fire at a corrugated products facility, and restructuring charges relating to the Wallula, WA containerboard mill. Reported earnings in the third quarter of 2025 included special items for costs and charges related to the Greif containerboard business acquisition and closures of corrugated products facilities. Excluding special items, the $.31 per share increase in third quarter 2026 earnings compared to the third quarter of 2025 resulted from $.24 higher earnings from the acquired Greif operations and $.07 higher earnings in the legacy business. The acquired Greif operations generated earnings of $.13 in the third quarter of 2026 compared to a loss of ($.11) in the third quarter of 2025. The higher earnings in the legacy business were driven by favorable price and mix in the Packaging segment $.79, favorable production and sales volume in the Packaging segment, including the benefit of a higher volume of containerboard supplied by the legacy mills to the acquired Greif operations $.12, favorable price and mix in the Paper segment $.05 and a lower share count $.02. These items were partially offset by higher labor and operating expense ($.28), higher freight expense ($.26), higher corporate and other expense ($.13), higher fiber costs ($.12), higher depreciation and amortization expense ($.06), higher maintenance outage expense in the Paper segment ($.04), lower volume in the Paper segment ($.01), and higher interest expense, excluding Greif acquisition indebtedness ($.01).<\/p>\n

\nExcluding the impact of special items, earnings were $.13 above third quarter guidance of $2.91 per share primarily due to favorable price and mix in the Packaging segment and favorable earnings from the acquired Greif operations, partially offset by higher labor and operating costs and unfavorable corrugated products sales volume.<\/p>\n

\nFinancial information by segment is summarized below and in the schedules with this release.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(dollars in millions)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Three Months Ended<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

September 30,<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

2026<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

2025<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

Segment operating income (loss)<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nPackaging<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n397.8<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n327.5<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nPaper<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n29.0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n35.6<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nCorporate and Other<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(41.5<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(38.6<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

$<\/b><\/p>\n<\/td>\n

\n

385.3<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

$<\/b><\/p>\n<\/td>\n

\n

324.5<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

Segment operating income (loss) excluding special items (1)<\/sup><\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nPackaging<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n407.7<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n347.9<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nPaper<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n29.0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n35.6<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nCorporate and Other<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(38.9<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(32.7<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

$<\/b><\/p>\n<\/td>\n

\n

397.8<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

$<\/b><\/p>\n<\/td>\n

\n

350.8<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

EBITDA excluding special items (1)<\/sup><\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nPackaging<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n577.7<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n491.8<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nPaper<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n33.6<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n40.1<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nCorporate and Other<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(34.1<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(28.5<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

$<\/b><\/p>\n<\/td>\n

\n

577.2<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

$<\/b><\/p>\n<\/td>\n

\n

503.4<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

(1)<\/sup> Segment operating income (loss) excluding special items and EBITDA excluding special items are non-GAAP financial measures. We provide information regarding our use of non-GAAP financial measures and reconciliations of historical non-GAAP financial measures presented in this press release to the most comparable measure reported in accordance with GAAP in the schedules to this press release.<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\nTotal corrugated products shipments were up 10.6% per day and in total compared to the third quarter of 2025. In the legacy packaging business, corrugated products shipments were down 0.5% per day and in total compared to the third quarter of 2025, with the same number of shipping days in each period. Containerboard production was 1,489,000 tons, and containerboard inventory was up 34,000 tons compared to the second quarter of 2026 and down 29,000 tons compared to the third quarter of 2025. In the Paper segment, sales volume was down 2.5% from the third quarter of 2025.<\/p>\n

\nCommenting on reported results, Mark W. Kowlzan, Chairman and CEO, said, \u201cWe executed very well across all aspects of our operations, resulting in very strong earnings performance for the quarter despite continued cost headwinds from freight, recycled fiber and chemicals and some weakness in agricultural end markets in our corrugated business. Our mills ran at full capacity during the quarter, and we are meaningfully realizing production benefits from projects at our Jackson mill as well as improved operating performance at the acquired Greif mills. We managed to build sufficient inventory to put us in position to efficiently supply our corrugated operations in the fourth quarter and help us continue to mitigate escalating freight costs. Our white paper operations turned in another excellent quarter, with higher than expected sales volumes, strong price realization and safe and successful completion of the maintenance outage at the International Falls mill.\u201d<\/p>\n

\nMr. Kowlzan added, \u201cLooking ahead as we move from the third quarter into the fourth quarter, we expect solid corrugated products demand with some seasonal improvement. Shipments per day are expected to be at or around last year\u2019s fourth quarter level with two fewer shipping days than the third quarter and total shipments are expected to be higher than the third quarter. Prices for containerboard and corrugated products are expected to improve as we continue to implement earlier price increases, but corrugated products mix will be seasonally weaker with higher e-commerce volumes. Containerboard production will be lower with maintenance outages at three of our mills, and mill maintenance outage expenses, including the impact on production volume from fourth quarter outages, will be significantly higher in the fourth quarter. We expect seasonally lower volume and slightly higher prices in the Paper segment. We expect freight costs to increase with diesel fuel prices increasing above third quarter levels. We also expect costs for recycled fiber to continue to increase as well as higher wood fiber costs due to winter yields and mill mix. Costs for chemicals and energy will increase due to higher prices and higher seasonal energy usage. Considering these items, we expect fourth quarter earnings of $2.81 per share, excluding special items.\u201d<\/p>\n

\nWe present our earnings expectation for the upcoming quarter excluding special items as special items are difficult to predict and quantify and may reflect the effect of future events. We currently expect to incur acquisition and integration related costs and costs related to the closure of corrugated products facilities during the fourth quarter; however, additional special items may arise due to fourth quarter events.<\/p>\n

\nPCA is the third largest producer of containerboard products and a leading producer of uncoated freesheet paper in North America. PCA operates ten mills and 90 corrugated products plants and related facilities.<\/p>\n

\nSome of the statements in this press release are forward-looking statements. Forward-looking statements include statements about our future earnings and financial condition, expected benefits from acquisitions and restructuring activities, our industry and our business strategy. Statements that contain words such as \u201cwill\u201d, \u201cshould\u201d, \u201canticipate\u201d, \u201cbelieve\u201d, \u201cexpect\u201d, \u201cintend\u201d, \u201cestimate\u201d, \u201chope\u201d or similar expressions, are forward-looking statements. These forward-looking statements are based on the current expectations of PCA. Because forward-looking statements involve inherent risks and uncertainties, the plans, actions and actual results of PCA could differ materially. Among the factors that could cause plans, actions and results to differ materially from PCA\u2019s current expectations include the following: the impact of general economic conditions; conditions in the paper and packaging industries, including competition, product demand and product pricing; fluctuations in wood fiber and recycled fiber costs; fluctuations in purchased energy costs; the possibility of unplanned outages or interruptions at our principal facilities; and legislative or regulatory requirements, particularly concerning environmental matters, as well as those identified under Item 1A. Risk Factors in PCA\u2019s Annual Report on Form 10-K for the year ended December 31, 2025, and in subsequent quarterly reports on Form 10-Q, filed with the Securities and Exchange Commission and available at the SEC\u2019s website at \u201cwww.sec.gov<\/a>.\u201d<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

Conference Call Information<\/span>:<\/b>\u00a0<\/p>\n<\/td>\n<\/tr>\n

\u00a0<\/td>\n<\/tr>\n
\n

WHAT:<\/b>\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\u00a0<\/td>\n\n

\nPackaging Corporation of America\u2019s 3rd Quarter 2026 Earnings Conference Call<\/p>\n<\/td>\n<\/tr>\n

\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n

\nConference ID:\u00a0 Packaging Corporation of America<\/p>\n<\/td>\n<\/tr>\n

\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

WHEN:<\/b>\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\u00a0<\/td>\n\n

\nThursday, October 22, 2026 at 9:00am Eastern Time<\/p>\n<\/td>\n<\/tr>\n

\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

PRE-REGISTRATION:\u00a0<\/b>\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\u00a0<\/td>\n\n

https:\/\/dpregister.com\/sreg\/10205357\/102fc34e0c7<\/a><\/p>\n<\/td>\n<\/tr>\n

\n

OR<\/i>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n

CALL-IN NUMBER:<\/b>\u00a0\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\u00a0<\/td>\n\n

\n(833) 816-1102 (U.S.); (866) 605-3852 (Canada) or (412) 317-0684 (International)<\/p>\n<\/td>\n<\/tr>\n

\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n

\nDial in by 8:45am Eastern Time<\/p>\n<\/td>\n<\/tr>\n

\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/b><\/p>\n<\/td>\n<\/tr>\n

\n

WEBCAST INFO:<\/b>\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\u00a0<\/td>\n\n

www.packagingcorp.com<\/a><\/p>\n<\/td>\n<\/tr>\n

\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/b><\/p>\n<\/td>\n<\/tr>\n

\n

REBROADCAST DATES:<\/b>\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\u00a0<\/td>\n\n

\nOctober 22, 2026 through November 5, 2026<\/p>\n<\/td>\n<\/tr>\n

\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

REBROADCAST NUMBERS:<\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\u00a0<\/td>\n\n

\n(855) 669-9658 (U.S. and Canada); (412) 317-0088 (International)<\/p>\n<\/td>\n<\/tr>\n

\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n

\nPasscode:\u00a0 8981933<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\u00a0<\/td>\n<\/tr>\n
\n\u00a0<\/td>\n<\/tr>\n
\n\u00a0<\/td>\n<\/tr>\n
\n

Packaging Corporation of America<\/b><\/p>\n<\/td>\n

<\/tr>\n
\n

Consolidated Earnings Results<\/b><\/p>\n<\/td>\n

<\/tr>\n
\n

Unaudited<\/b><\/p>\n<\/td>\n

<\/tr>\n
\n

\n(dollars in millions, except per-share data)<\/p>\n<\/td>\n

<\/tr>\n
\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\n

Three Months Ended<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Nine Months Ended<\/b><\/p>\n<\/td>\n

<\/tr>\n
\n\n

September 30,<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

September 30,<\/b><\/p>\n<\/td>\n

<\/tr>\n
\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

2026<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

2025<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

2026<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

2025<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/tr>\n
Net sales<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2,601.7<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2,313.4<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 7,459.3<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 6,625.7<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n<\/tr>\n
Cost of sales<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(1,997.8<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n

\n(1)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(1,809.1<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n

\n(2)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(5,890.2<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n

\n(1)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(5,183.6<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n

\n(2)<\/p>\n<\/td>\n<\/tr>\n

Gross profit<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0603.9<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/sup><\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0504.3<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/sup><\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a01,569.1<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/sup><\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a01,442.1<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/sup><\/td>\n<\/tr>\n
Selling, general, and administrative expenses<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(182.7<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(154.3<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(542.3<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(468.9<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

<\/tr>\n
Other expense, net<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(35.9<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n

\n(1)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(25.5<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n

\n(2)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(99.1<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n

\n(1)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(34.7<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n

\n(2)<\/p>\n<\/td>\n<\/tr>\n

Income from operations<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0385.3<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0324.5<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0927.7<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0938.5<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/tr>\n
Non-operating pension income<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.2<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3.5<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n<\/tr>\n
Interest expense, net<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(32.3<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(19.3<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(98.3<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(45.2<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

<\/tr>\n
Income before taxes<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0354.2<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0305.2<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0832.9<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0893.3<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n<\/tr>\n
Provision for income taxes<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(91.9<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(78.3<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(207.6<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(221.0<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

<\/tr>\n
Net income<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 262.3<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 226.9<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 625.3<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 672.3<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n<\/tr>\n
\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Earnings per share:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Basic<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.94<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.52<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 7.02<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 7.48<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/tr>\n
Diluted<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.93<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.51<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 6.98<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 7.45<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n<\/tr>\n
\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Computation of diluted earnings per share under the two class method:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net income<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 262.3<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 226.9<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 625.3<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 672.3<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/tr>\n
Less: Distributed and undistributed income available to participating securities<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (1.5<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (1.5<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (3.7<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (4.5<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\u00a0<\/td>\n<\/tr>\n
Net income attributable to PCA shareholders<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 260.8<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 225.4<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 621.6<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 667.8<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/tr>\n
Diluted weighted average shares outstanding<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 89.0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 89.7<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 89.1<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 89.7<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n<\/tr>\n
Diluted earnings per share<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.93<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.51<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 6.98<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 7.45<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/tr>\n
\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Supplemental financial information:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Capital spending<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 247.3<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 192.1<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 617.9<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 509.9<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/tr>\n
Cash, cash equivalents, and marketable debt securities<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 761.8<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 806.4<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 761.8<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 806.4<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n<\/tr>\n
\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n

\n(1) The three and nine months ended September 30, 2026 include the following:<\/p>\n<\/td>\n<\/tr>\n

a.$6.2 million and $23.1 million, respectively, of charges consisting of closure costs related to corrugated products facilities and the write-off of expenditures related to sustainability and renewable energy projects. The costs were recorded in \u201cCost of sales\u201d and \u201cOther expense, net\u201d, as appropriate.<\/td>\n<\/tr>\n
b.$3.0 million and $9.8 million, respectively, of charges for acquisition and integration costs related to recent acquisitions. The costs were recorded in \u201cCost of sales\u201d\u00a0 and \u201cOther expense, net\u201d, as appropriate.<\/td>\n<\/tr>\n
c.$3.0 million of charges related to fire damage at a corrugated products facility. The costs were recorded in \u201cOther expense, net.\u201d<\/td>\n<\/tr>\n
d.$0.3 million and $60.0 million, respectively, of charges related to the announced discontinuation of the No. 2 machine and kraft pulping facilities at the Wallula, Washington containerboard mill. The costs were recorded in \u201cCost of sales\u201d and \u201cOther expense, net\u201d, as appropriate.<\/td>\n<\/tr>\n
\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n

\n(2) The three and nine months ended September 30, 2025 include the following:<\/p>\n<\/td>\n<\/tr>\n

a.$1.3 million of charges and $17.5 million of income, respectively, related to the closure of certain corrugated products facilities. For the three months ended September 30, 2025, the charges were partially offset by a gain on an asset disposal related to a closed corrugated products facility. For the nine months ended September 30, 2025, the charges were completely offset by gains from the sales of closed corrugated products facilities during the second quarter of 2025. These items were recorded in \u201cCost of sales\u201d and \u201cOther expense, net\u201d, as appropriate.<\/td>\n<\/tr>\n
b.$25.0 million and $26.6 million, respectively, of charges for acquisition and integration costs related to the announced Greif, Inc. acquisition, which were recorded in \u201cCost of sales\u201d and \u201cOther expense, net\u201d, as appropriate.<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n
\n

Packaging Corporation of America<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Segment Information<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Unaudited<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n(dollars in millions)<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Three Months Ended<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Nine Months Ended<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

September 30,<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

September 30,<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

2026<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

2025<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

2026<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

2025<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Segment sales<\/b><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Packaging<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0 2,414.0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0 2,128.1<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 6,913.9<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 6,104.4<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Paper<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 163.2<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 161.2<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 480.4<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 461.2<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Corporate and Other<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 24.5<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 24.1<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 65.0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 60.1<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0 2,601.7<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/b><\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0 2,313.4<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0 7,459.3<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/b><\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0 6,625.7<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Segment operating income (loss)<\/b><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Packaging<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 397.8<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 327.5<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 971.2<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 952.0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Paper<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 29.0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 35.6<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 96.2<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 96.9<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Corporate and Other<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(41.5<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(38.6<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(139.7<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(110.4<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

Income from operations<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\u00a0385.3<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/b><\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\u00a0324.5<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\u00a0927.7<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/b><\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\u00a0938.5<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Non-operating pension income<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.2<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3.5<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Interest expense, net<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(32.3<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(19.3<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(98.3<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(45.2<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

Income before taxes<\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 354.2<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 305.2<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 832.9<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 893.3<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Segment operating income (loss) excluding special items (1)<\/sup><\/b><\/td>\n\u00a0<\/b><\/td>\n\u00a0<\/b><\/td>\n\u00a0<\/b><\/td>\n\u00a0<\/td>\n\u00a0<\/b><\/td>\n\u00a0<\/b><\/td>\n\u00a0<\/b><\/td>\n<\/tr>\n
Packaging<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 407.7<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 347.9<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1,052.0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 953.6<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Paper<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a029.0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a035.6<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a096.2<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a096.9<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Corporate and Other<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(38.9<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(32.7<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(124.6<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(102.9<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 397.8<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/b><\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 350.8<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0 1,023.6<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/b><\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 947.6<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
EBITDA excluding special items (1)<\/sup><\/b><\/td>\n\u00a0<\/b><\/td>\n\u00a0<\/b><\/td>\n\u00a0<\/b><\/td>\n\u00a0<\/td>\n\u00a0<\/b><\/td>\n\u00a0<\/b><\/td>\n\u00a0<\/b><\/td>\n<\/tr>\n
Packaging<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 577.7<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 491.8<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1,548.0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1,354.0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Paper<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a033.6<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a040.1<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0110.4<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0110.7<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Corporate and Other<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(34.1<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(28.5<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(110.1<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(89.4<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 577.2<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/b><\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 503.4<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0 1,548.3<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/b><\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0 1,375.3<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\u00a0<\/td>\n<\/tr>\n
(1) Income (loss) from operations excluding special items, segment operating income (loss) excluding special items, earnings before non-operating pension income, interest, income taxes, and depreciation, amortization, and depletion (EBITDA), segment EBITDA, EBITDA excluding special items, and segment EBITDA excluding special items are non-GAAP financial measures. Management excludes special items as it believes these items are not necessarily reflective of the ongoing results of operations of our business. We present these measures because they provide a means to evaluate the performance of our segments and our company on an ongoing basis using the same measures that are used by our management, because these measures assist in providing a meaningful comparison between periods presented and because these measures are frequently used by investors and other interested parties in the evaluation of companies and the performance of their segments. The tables included in “Reconciliation of Non-GAAP Financial Measures” on the following pages reconcile the non-GAAP measures with the most directly comparable GAAP measures. Any analysis of non-GAAP financial measures should be done only in conjunction with results presented in accordance with GAAP. The non-GAAP measures are not intended to be substitutes for GAAP financial measures and should not be used as such.\u00a0<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n
\n

Packaging Corporation of America<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Reconciliation of Non-GAAP Financial Measures<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Unaudited<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n(dollars in millions)<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\n

Three Months Ended<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Nine Months Ended<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n

September 30,<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

September 30,<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

2026<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

2025<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\u00a02026<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\u00a02025<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Packaging<\/b><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Segment operating income<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 397.8<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 327.5<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 971.2<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 952.0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Facilities closure and other costs (income)<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a05.9<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a01.3<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a017.1<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(17.5<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

Acquisition and integration-related costs<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.7<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 19.1<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.7<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 19.1<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Corrugated products facility fire<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3.0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3.0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Wallula mill restructuring<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.3<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 60.0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Segment operating income excluding special items (1)<\/sup><\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0 407.7<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/b><\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0 347.9<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/b><\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0 1,052.0<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/b><\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 953.6<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Paper<\/b><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Segment operating income<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 29.0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 35.6<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 96.2<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 96.9<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Segment operating income excluding special items (1)<\/sup><\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 29.0<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/b><\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 35.6<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/b><\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 96.2<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/b><\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 96.9<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Corporate and Other<\/b><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Segment operating loss<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (41.5<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (38.6<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (139.7<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (110.4<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

Acquisition and integration-related costs<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a02.3<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 5.9<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a09.1<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 7.5<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Facilities closure and other costs<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a00.3<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a06.0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Segment operating loss excluding special items (1)<\/sup><\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0 (38.9<\/b><\/p>\n<\/td>\n

\n

)<\/b><\/p>\n<\/td>\n

\u00a0<\/b><\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0 (32.7<\/b><\/p>\n<\/td>\n

\n

)<\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0 (124.6<\/b><\/p>\n<\/td>\n

\n

)<\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0 (102.9<\/b><\/p>\n<\/td>\n

\n

)<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Income from operations<\/b><\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0 385.3<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0 324.5<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 927.7<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 938.5<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Income from operations, excluding special items (1)<\/sup><\/b><\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0 397.8<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0 350.8<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0 1,023.6<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 947.6<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
(1) See footnote (1) on page 3, for a discussion of non-GAAP financial measures.<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n
\n

Packaging Corporation of America<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Reconciliation of Non-GAAP Financial Measures<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Unaudited<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n(dollars in millions)<\/p>\n<\/td>\n<\/tr>\n

\n

Net Income Excluding Special Items and EPS Excluding Special Items (1)<\/sup><\/b><\/i><\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Three Months Ended September 30,\u00a0<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

2026<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

2025<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Income<\/b><\/p>\n

before<\/b><\/p>\n

taxes<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Income<\/b><\/p>\n

Taxes<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Net<\/b><\/p>\n

Income<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Diluted<\/b><\/p>\n

EPS<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Income<\/b><\/p>\n

before<\/b><\/p>\n

taxes<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Income<\/b><\/p>\n

Taxes<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Net<\/b><\/p>\n

Income<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Diluted EPS<\/b><\/p>\n<\/td>\n<\/tr>\n

As reported in accordance with GAAP<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 354.2<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0 (91.9<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0 262.3<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.93<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 305.2<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0 (78.3<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0 226.9<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.51<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Special items (2)<\/sup>:<\/td>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n<\/tr>\n
Facilities closure and other costs<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 6.2<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (1.3<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4.9<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.05<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.3<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.3<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.01<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Acquisition and integration-related costs<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3.0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.7<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.3<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.03<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 25.0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (6.2<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 18.8<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.21<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Corrugated products facility fire<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3.0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.7<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.3<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.03<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Wallula mill restructuring<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.3<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.1<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.2<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –\u00a0\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Total special items<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a012.5<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(2.8<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a09.7<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.11<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a026.3<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(6.5<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a019.8<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.22<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Excluding special items<\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0 366.7 <\/b><\/p>\n<\/td>\n

\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0 (94.7<\/b><\/p>\n<\/td>\n

\n

)<\/b><\/p>\n<\/td>\n

\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0 272.0 <\/b><\/p>\n<\/td>\n

\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3.04 <\/b><\/p>\n<\/td>\n

\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 331.5<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0 (84.8<\/b><\/p>\n<\/td>\n

\n

)<\/b><\/p>\n<\/td>\n

\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0 246.7<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.73<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\n

Nine Months Ended September 30,<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n

2026<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

2025<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n

Income<\/b><\/p>\n

before<\/b><\/p>\n

taxes<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Income<\/b><\/p>\n

Taxes<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Net<\/b><\/p>\n

Income<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Diluted<\/b><\/p>\n

EPS<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Income<\/b><\/p>\n

before<\/b><\/p>\n

taxes<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Income<\/b><\/p>\n

Taxes<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Net<\/b><\/p>\n

Income<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Diluted EPS<\/b><\/p>\n<\/td>\n<\/tr>\n

As reported in accordance with GAAP<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 832.9<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0 (207.6<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0 625.3<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 6.98<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 893.3<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0 (221.0<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0 672.3<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 7.45<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Special items (2)<\/sup>:<\/td>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n<\/tr>\n
Facilities closure and other costs (income)<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 23.1<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (5.8<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 17.3<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.19<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (17.5<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4.3<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (13.2<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.15<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

Acquisition and integration-related costs<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 9.8<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (2.4<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 7.4<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.08<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 26.6<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (6.6<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 20.0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.22<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Wallula mill restructuring<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 60.0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (14.9<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 45.1<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.50<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Corrugated products facility fire<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3.0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.7<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.3<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.03<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Total special items<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a095.9<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(23.8<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a072.1<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.80<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a09.1<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(2.3<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a06.8<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.07<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Excluding special items<\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0 928.8 <\/b><\/p>\n<\/td>\n

\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0 (231.4<\/b><\/p>\n<\/td>\n

\n

)<\/b><\/p>\n<\/td>\n

\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0 697.4 <\/b><\/p>\n<\/td>\n

\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 7.78 <\/b><\/p>\n<\/td>\n

\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 902.4<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0 (223.3<\/b><\/p>\n<\/td>\n

\n

)<\/b><\/p>\n<\/td>\n

\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0 679.1<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 7.52<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\u00a0<\/td>\n<\/tr>\n
(1) Net income excluding special items and earnings per share excluding special items are non-GAAP financial measures. Management excludes special items as it believes these items are not necessarily reflective of the ongoing results of operations of our business. We present these measures because they provide a means to evaluate the performance of our company on an ongoing basis using the same measures that are used by our management, because these measures assist in providing a meaningful comparison between periods presented and because these measures are frequently used by investors and other interested parties in the evaluation of companies and their performance. Any analysis of non-GAAP financial measures should be done only in conjunction with results presented in accordance with GAAP. The non-GAAP measures are not intended to be substitutes for GAAP financial measures and should not be used as such.\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n
(2) Pre-tax special items are tax-effected at a combined federal and state income tax rate in effect for the period the special items were recorded and this rate is adjusted for each subsequent quarter to be consistent with the estimated annual effective tax rate, in accordance with ASC 270, Interim Reporting, and ASC 740-270, Income Taxes \u2013 Intra Period Tax Allocation. For all periods presented, income taxes on pre-tax special items represent the current amount of tax. For more information related to these items, see the footnotes to the Consolidated Earnings Results on page 1.\u00a0<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n
\n

Packaging Corporation of America<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Reconciliation of Non-GAAP Financial Measures<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Unaudited<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n(dollars in millions)<\/p>\n<\/td>\n<\/tr>\n

\n

EBITDA and EBITDA Excluding Special Items (1)<\/sup><\/b><\/i><\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
EBITDA represents income before non-operating pension income, interest, income taxes, and depreciation, amortization, and depletion. The following table reconciles net income to EBITDA and EBITDA excluding special items:<\/td>\n<\/tr>\n
\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\n

Three Months Ended<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Nine Months Ended<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n

September 30,<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

September 30,<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\u00a02026<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\u00a02025 <\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\u00a02026<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\u00a02025<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Net income<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 262.3<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 226.9<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 625.3<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 672.3<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Non-operating pension income<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (1.2<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –\u00a0\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (3.5<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Interest expense, net<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a032.3<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a019.3<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a098.3<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a045.2<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Provision for income taxes<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a091.9<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a078.3<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0207.6<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0221.0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Depreciation, amortization, and depletion<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0181.3<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0152.6<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0582.8<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0431.2<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

EBITDA (1)<\/sup><\/b><\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 566.6<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 477.1 <\/b><\/p>\n<\/td>\n

\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0 1,510.5<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0 1,369.7<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Special items:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Facilities closure and other costs (income)<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 5.0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.3<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a016.4<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(21.0<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

Acquisition and integration-related costs<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a02.3<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 25.0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 9.1<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a026.6<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Corrugated products facility fire<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a03.0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –\u00a0\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3.0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Wallula mill restructuring<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a00.3<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –\u00a0\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a09.3<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

EBITDA excluding special items (1)<\/sup><\/b><\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 577.2<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 503.4 <\/b><\/p>\n<\/td>\n

\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0 1,548.3<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0 1,375.3<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
(1) See footnote (1) on page 3, for a discussion of non-GAAP financial measures.<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n
\n

Packaging Corporation of America<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Reconciliation of Non-GAAP Financial Measures<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Unaudited<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n(dollars in millions)<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
The following table reconciles segment operating income (loss) to segment EBITDA and segment EBITDA excluding special items:<\/td>\n<\/tr>\n
\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\n

Three Months Ended<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Nine Months Ended<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n

September 30,<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

September 30,<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\u00a02026<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\u00a02025<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\u00a02026<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\u00a02025<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Packaging<\/b><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Segment operating income<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 397.8<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 327.5<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 971.2<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 952.0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Depreciation, amortization, and depletion<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0171.9<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0143.9<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0554.1<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0403.9<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

EBITDA (1)<\/sup><\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0569.7<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0471.4<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a01,525.3<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a01,355.9<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Facilities closure and other costs (income)<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a04.7<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a01.3<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 10.4<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (21.0<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

Corrugated products facility fire<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a03.0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3.0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Wallula mill restructuring<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a00.3<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 9.3<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Acquisition and integration-related costs<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 19.1<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 19.1<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

EBITDA excluding special items (1)<\/sup><\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 577.7<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 491.8<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0 1,548.0<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0 1,354.0<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Paper<\/b><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Segment operating income<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 29.0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 35.6<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 96.2<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 96.9<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Depreciation, amortization, and depletion<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a04.6<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a04.5<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a014.2<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a013.8<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

EBITDA (1)<\/sup><\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a033.6<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a040.1<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0110.4<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0110.7<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

EBITDA excluding special items (1)<\/sup><\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 33.6<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 40.1<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 110.4<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 110.7<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Corporate and Other<\/b><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Segment operating loss<\/td>\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (41.5<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (38.6<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (139.7<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0$<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (110.4<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

Depreciation, amortization, and depletion<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a04.8<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a04.2<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a014.5<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a013.5<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

EBITDA (1)<\/sup><\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(36.7<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(34.4<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(125.2<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0(96.9<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

Acquisition and integration-related costs<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a02.3<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 5.9<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a09.1<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 7.5<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Facilities closure and other costs<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a00.3<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a06.0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

EBITDA excluding special items (1)<\/sup><\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (34.1<\/b><\/p>\n<\/td>\n

\n

)<\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (28.5<\/b><\/p>\n<\/td>\n

\n

)<\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0 (110.1<\/b><\/p>\n<\/td>\n

\n

)<\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (89.4<\/b><\/p>\n<\/td>\n

\n

)<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
EBITDA excluding special items (1)<\/sup><\/b><\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 577.2<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/b><\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 503.4<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0 1,548.3<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\u00a0<\/b><\/td>\n\n

\u00a0$<\/b><\/p>\n<\/td>\n

\n

\u00a0\u00a0\u00a0\u00a0 1,375.3<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
(1) See footnote (1) on page 3, for a discussion of non-GAAP financial measures.<\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n\u00a0<\/p>\n

\n\u00a0<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20261021071793\/en\/<\/a><\/span><\/p>\n

\nBarbara Sessions
\n
Packaging Corporation of America
\n
INVESTOR RELATIONS: (877) 454-2509
\n
PCA\u2019s Website: www.packagingcorp.com<\/a><\/p>\n

KEYWORDS:<\/b> Illinois United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Packaging Other Natural Resources Forest Products Manufacturing Natural Resources Other Manufacturing<\/p>\n

MEDIA:<\/b><\/p>\n\n","protected":false},"excerpt":{"rendered":"

Packaging Corporation of America Reports Third Quarter 2026 Results LAKE FOREST, Ill.–(BUSINESS WIRE)– Packaging Corporation of America (NYSE: PKG) today reported third quarter 2026 net income of $262 million, or $2.93 per share, and net income of $272 million, or $3.04 per share, excluding special items. Third quarter net sales were $2.6 billion in 2026 and $2.3 billion in 2025. Diluted earnings per share attributable to Packaging Corporation of America shareholders \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Three Months Ended \u00a0 \u00a0 \u00a0 September 30, \u00a0 \u00a0 \u00a0 2026 \u00a0 2025 \u00a0 Change \u00a0 Reported Diluted EPS \u00a0 $ 2.93 \u00a0 $ 2.51 \u00a0 $ 0.42 \u00a0 Special Items Expense (1) \u00a0 \u00a0 0.11 \u00a0 … <\/p>\n

Continue reading “Packaging Corporation of America Reports Third Quarter 2026 Results”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-1012372","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nPackaging Corporation of America Reports Third Quarter 2026 Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/packaging-corporation-of-america-reports-third-quarter-2026-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Packaging Corporation of America Reports Third Quarter 2026 Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Packaging Corporation of America Reports Third Quarter 2026 Results LAKE FOREST, Ill.–(BUSINESS WIRE)– Packaging Corporation of America (NYSE: PKG) today reported third quarter 2026 net income of $262 million, or $2.93 per share, and net income of $272 million, or $3.04 per share, excluding special items. Third quarter net sales were $2.6 billion in 2026 and $2.3 billion in 2025. Diluted earnings per share attributable to Packaging Corporation of America shareholders \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Three Months Ended \u00a0 \u00a0 \u00a0 September 30, \u00a0 \u00a0 \u00a0 2026 \u00a0 2025 \u00a0 Change \u00a0 Reported Diluted EPS \u00a0 $ 2.93 \u00a0 $ 2.51 \u00a0 $ 0.42 \u00a0 Special Items Expense (1) \u00a0 \u00a0 0.11 \u00a0 … Continue reading "Packaging Corporation of America Reports Third Quarter 2026 Results"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/packaging-corporation-of-america-reports-third-quarter-2026-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2026-10-21T22:50:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20261021071793r1&sid=flmnd&distro=nx&lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"14 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/packaging-corporation-of-america-reports-third-quarter-2026-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/packaging-corporation-of-america-reports-third-quarter-2026-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Packaging Corporation of America Reports Third Quarter 2026 Results\",\"datePublished\":\"2026-10-21T22:50:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/packaging-corporation-of-america-reports-third-quarter-2026-results\\\/\"},\"wordCount\":2752,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/packaging-corporation-of-america-reports-third-quarter-2026-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20261021071793r1&sid=flmnd&distro=nx&lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/packaging-corporation-of-america-reports-third-quarter-2026-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/packaging-corporation-of-america-reports-third-quarter-2026-results\\\/\",\"name\":\"Packaging Corporation of America Reports Third Quarter 2026 Results - Market Newsdesk\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/packaging-corporation-of-america-reports-third-quarter-2026-results\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/packaging-corporation-of-america-reports-third-quarter-2026-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20261021071793r1&sid=flmnd&distro=nx&lang=en\",\"datePublished\":\"2026-10-21T22:50:48+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/packaging-corporation-of-america-reports-third-quarter-2026-results\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/packaging-corporation-of-america-reports-third-quarter-2026-results\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/packaging-corporation-of-america-reports-third-quarter-2026-results\\\/#primaryimage\",\"url\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20261021071793r1&sid=flmnd&distro=nx&lang=en\",\"contentUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20261021071793r1&sid=flmnd&distro=nx&lang=en\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/packaging-corporation-of-america-reports-third-quarter-2026-results\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Packaging Corporation of America Reports Third Quarter 2026 Results\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\",\"name\":\"Market Newsdesk\",\"description\":\"Latest Business News in Real Time\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\",\"name\":\"Newsdesk\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"caption\":\"Newsdesk\"},\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/author\\\/newsdesk\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Packaging Corporation of America Reports Third Quarter 2026 Results - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/packaging-corporation-of-america-reports-third-quarter-2026-results\/","og_locale":"en_US","og_type":"article","og_title":"Packaging Corporation of America Reports Third Quarter 2026 Results - Market Newsdesk","og_description":"Packaging Corporation of America Reports Third Quarter 2026 Results LAKE FOREST, Ill.–(BUSINESS WIRE)– Packaging Corporation of America (NYSE: PKG) today reported third quarter 2026 net income of $262 million, or $2.93 per share, and net income of $272 million, or $3.04 per share, excluding special items. Third quarter net sales were $2.6 billion in 2026 and $2.3 billion in 2025. Diluted earnings per share attributable to Packaging Corporation of America shareholders \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Three Months Ended \u00a0 \u00a0 \u00a0 September 30, \u00a0 \u00a0 \u00a0 2026 \u00a0 2025 \u00a0 Change \u00a0 Reported Diluted EPS \u00a0 $ 2.93 \u00a0 $ 2.51 \u00a0 $ 0.42 \u00a0 Special Items Expense (1) \u00a0 \u00a0 0.11 \u00a0 … Continue reading \"Packaging Corporation of America Reports Third Quarter 2026 Results\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/packaging-corporation-of-america-reports-third-quarter-2026-results\/","og_site_name":"Market Newsdesk","article_published_time":"2026-10-21T22:50:48+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20261021071793r1&sid=flmnd&distro=nx&lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"14 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/packaging-corporation-of-america-reports-third-quarter-2026-results\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/packaging-corporation-of-america-reports-third-quarter-2026-results\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Packaging Corporation of America Reports Third Quarter 2026 Results","datePublished":"2026-10-21T22:50:48+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/packaging-corporation-of-america-reports-third-quarter-2026-results\/"},"wordCount":2752,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/packaging-corporation-of-america-reports-third-quarter-2026-results\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20261021071793r1&sid=flmnd&distro=nx&lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/packaging-corporation-of-america-reports-third-quarter-2026-results\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/packaging-corporation-of-america-reports-third-quarter-2026-results\/","name":"Packaging Corporation of America Reports Third Quarter 2026 Results - Market Newsdesk","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/packaging-corporation-of-america-reports-third-quarter-2026-results\/#primaryimage"},"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/packaging-corporation-of-america-reports-third-quarter-2026-results\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20261021071793r1&sid=flmnd&distro=nx&lang=en","datePublished":"2026-10-21T22:50:48+00:00","author":{"@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"breadcrumb":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/packaging-corporation-of-america-reports-third-quarter-2026-results\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.marketnewsdesk.com\/index.php\/packaging-corporation-of-america-reports-third-quarter-2026-results\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/packaging-corporation-of-america-reports-third-quarter-2026-results\/#primaryimage","url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20261021071793r1&sid=flmnd&distro=nx&lang=en","contentUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20261021071793r1&sid=flmnd&distro=nx&lang=en"},{"@type":"BreadcrumbList","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/packaging-corporation-of-america-reports-third-quarter-2026-results\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.marketnewsdesk.com\/"},{"@type":"ListItem","position":2,"name":"Packaging Corporation of America Reports Third Quarter 2026 Results"}]},{"@type":"WebSite","@id":"https:\/\/www.marketnewsdesk.com\/#website","url":"https:\/\/www.marketnewsdesk.com\/","name":"Market Newsdesk","description":"Latest Business News in Real Time","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.marketnewsdesk.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979","name":"Newsdesk","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","caption":"Newsdesk"},"url":"https:\/\/www.marketnewsdesk.com\/index.php\/author\/newsdesk\/"}]}},"_links":{"self":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/1012372","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/comments?post=1012372"}],"version-history":[{"count":0,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/1012372\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/media?parent=1012372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/categories?post=1012372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/tags?post=1012372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}