Packaging Corp. of America sets record for shipments

LAKE FOREST - Packaging Corp. of America reported first quarter 2022 net income of $254 million, or $2.70 per share, and net income of $256 million, or $2.72 per share, excluding special items.

First quarter net sales were $2.1 billion in 2022, as compared to $1.8 billion in the same period last year.

Reported earnings in the first quarter of the fiscal year include special items primarily for certain costs at its Jackson, Alabama, mill pertaining to a paper-to-containerboard conversion, the company said.

"Packaging segment demand remained very strong in the first quarter as we set a new all-time record for total box shipments and new first quarter records for box shipments per day and for containerboard volume," said Mark W. Kowlzan, chairman and CEO, in a news release. "We also had excellent execution of implementing previously announced price increases in both our Packaging and Paper segments."

Lake Forest-based PCA is the third largest producer of containerboard products and a leading producer of uncoated freesheet paper in North America. PCA operates eight mills and 90 corrugated products plants and related facilities.