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PKG · Q2 2026
Archived report (Q2 2026). Latest deep dive →
The quarter in brief
Revenue grew 14.7% y/y to $2.49B, operating margin 11.7% vs 15.4%, net income $192M (−20.5% y/y).
Net income
$192M
down 20.5% y/y
Net sales
$2,490M
up 14.7% y/y
Income from operations
$291M
down 12.7% y/y
Gross profit
$513M
up 6.1% y/y
All figures in $M.
| Line item | Amount and change |
|---|---|
| Net sales | $2,490 · +14.7% |
| Cost of sales | $1,977 · +17.1% |
| Gross profit | $513 · +6.1% · 20.6% margin |
| Selling, general, and administrative expenses | $179 · +17.0% |
| Other (expense) income, net | $42 · vs −$3.9 |
| Income from operations | $291 · −12.7% · 11.7% margin |
| Non-operating pension income | $1.1 · vs $0 |
| Interest expense, net | $33.3 · +154% |
| Income before taxes | $259 · −19.2% |
| Provision for income taxes | $66.9 · −15.4% · 25.8% effective rate |
| Net income | $192 · −20.5% · $2.15/sh · 7.7% margin |
Verdict: revenue grew 14.7% y/y to $2.49B, operating margin 11.7% vs 15.4%, net income $192M (−20.5% y/y).
Reported diluted EPS was $2.15 vs $2.67 a year earlier.
Source and notation
Source: Packaging Corporation of America press release, 8-K EX-99.1 of 07/23/2026 (SEC EDGAR). Every figure was matched against the income statement in the release and checked against SEC XBRL.
Open as an image: PKG, Q2 2026 (PNG) ↗ · for sharing and presentations · free to reuse, CC BY 4.0
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Chart: “PKG Q2 2026: where the revenue went” by Who Reports Today, https://whoreportstoday.com/t/pkg/q2-2026. Licensed under CC BY 4.0.
<figure> <a href="https://whoreportstoday.com/t/pkg/q2-2026"><img src="https://whoreportstoday.com/t/pkg/q2-2026/sankey.png" alt="PKG Q2 2026: where the revenue went" loading="lazy" style="max-width:100%;height:auto"></a> <figcaption>Source: <a href="https://whoreportstoday.com/t/pkg/q2-2026">Who Reports Today</a>, licensed under <a href="https://creativecommons.org/licenses/by/4.0/">CC BY 4.0</a></figcaption> </figure>
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<a href="https://whoreportstoday.com/t/pkg/q2-2026">PKG Q2 2026 earnings chart (Who Reports Today)</a>
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- Excluding special items, net income was $210 million, or $2.35 per share.
- Gross margin was 20.6% vs 22.2% a year earlier.
- Operating income was $291M, a 11.7% margin vs 15.4% a year earlier.
- The effective tax rate was 25.8% vs 24.7% a year earlier.
- Diluted EPS was $2.15 vs $2.67 a year earlier.
What distorts the picture in this report and what to watch beyond the headlines.
PKG — an American maker of containerboard and corrugated packaging that also produces uncoated freesheet paper in North America.
It runs paper mills and corrugated products plants in the U.S. and sells corrugated boxes to packaged goods, food and industrial customers. It reports three segments: Packaging, Paper, and Corporate and Other. · Source: annual report (Form 10-K, SEC)
Heads-up
- net income fell 21% y/y in Q2 2026
Net income for Q2 2026: $192M, −21% y/y. In the report's figures: costs grew faster than revenue: interest expense, net +154% y/y. Based on the Q2 2026 report.
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