Packaging Corporation of America (PCA) reported 1Q 2018 net income of $140 million, or $1.48 per share and $1.55 per share excluding special items. 1Q 2018 net sales were $1.7 billion in 2018 and $1.5 billion in 2017, as the company said in the press release received by Lesprom Network.
Commenting on reported results, Mark W. Kowlzan, Chairman and CEO, said, “Demand in our Packaging segment remained strong with record 1Q sales volumes in both our containerboard mills and corrugated products plants as well as improved prices and mix compared to the 1Q 2017. In our Paper segment, volumes were above year ago levels and although prices and mix were still below last year’s levels, we began to realize some of our announced paper price increases. The scheduled maintenance outages at three of our containerboard mills went very well, and the production optimization work performed during the DeRidder Mill outage was extremely successful with very strong performance immediately after start-up. Year over year inflation in our freight, chemicals, labor and benefits, and other operating costs came in a bit higher than we were expecting, and we also experienced weather-related issues that impacted costs at some of our mills and box plants during the quarter.”
PCA is the fourth largest producer of containerboard products and the third largest producer of uncoated freesheet paper in the North America.