AI English summary of an SEC filing — figures as filed
Packaging Corporation of America PKGPCA said net sales for Q2 2024 were $2.08 billion (2023 $1.95 billion), net income was $199 million, and diluted earnings per share were $2.21 (2023 $203 million, or $2.24 per share). Net income excluding special items was $199 million, or $2.20 per diluted share.
Key points
AI summaryPCA said net sales for Q2 2024 were $2.08 billion (2023 $1.95 billion), net income was $199 million, and diluted earnings per share were $2.21 (2023 $203 million, or $2.24 per share). Net income excluding special items was $199 million, or $2.20 per diluted share.
The company said Packaging segment income from operations for Q2 was $280 million (2023 $286 million). It attributed the decline to lower prices and mix and higher operating costs, partially offset by higher sales and production volumes. It also said containerboard production reached a quarterly record of 1.3 million tons.
PCA said its operating income for the first six months of 2024 fell $83 million (15.0%) from 6 months earlier, income tax expense was $108 million (2023 $128 million), and the effective tax rate was 23.9% (2023 24.6%).
The company said net cash provided by operating activities for the first six months of 2024 was $539 million (2023 $640 million), net cash used for investing activities was $324 million, and net cash used for financing activities was $249 million. It said cash and cash equivalents as of June 30, 2024 were $614 million.
Key figures
Quarter ended June 30, 2024
- Revenue
- $2.1B
- Operating income
- $276M
- Net income
- $199M
- EPS
- $2.21
- Gross profit
- $438M
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Q2 2024 Net Sales and Net Income
PCA said net sales for Q2 2024 were $2.08 billion (2023 $1.95 billion), net income was $199 million, and diluted earnings per share were $2.21 (2023 $203 million, or $2.24 per share). Net income excluding special items was $199 million, or $2.20 per diluted share.
Source · Based on the MD&A text of the filing
Packaging Segment Income from Operations for Q2
The company said Packaging segment income from operations for Q2 was $280 million (2023 $286 million). It attributed the decline to lower prices and mix and higher operating costs, partially offset by higher sales and production volumes. It also said containerboard production reached a quarterly record of 1.3 million tons.
Source · Based on the MD&A text of the filing
6-Month Operating Income and Income Taxes
PCA said its operating income for the first six months of 2024 fell $83 million (15.0%) from 6 months earlier, income tax expense was $108 million (2023 $128 million), and the effective tax rate was 23.9% (2023 24.6%).
Source · Based on the MD&A text of the filing
6-Month Cash Flows and Liquidity
The company said net cash provided by operating activities for the first six months of 2024 was $539 million (2023 $640 million), net cash used for investing activities was $324 million, and net cash used for financing activities was $249 million. It said cash and cash equivalents as of June 30, 2024 were $614 million.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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