Packaging Corporation of America (PKG) 10-K Summary — Year Ended Dec 31, 2023
Packaging Corporation of America reported a decline in annual revenue compared to the prior year, while operating income and net income remained positive. The company continues to focus on its packaging and paper segments amid evolving industry conditions.
Key takeaway
Year ended Dec 31, 2023 · FY2025 10-K
Packaging Corporation of America reported a decline in annual revenue compared to the prior year, while operating income and net income remained positive. The company continues to focus on its packaging and paper segments amid evolving industry conditions.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$7.8B
Revenue reported for the fiscal year.
Operating income
$1.1B
Income from operations reported for the year.
Net income
$765.2M
Net income reported for the year.
Operating cash flow
$1.3B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $7.7B | n/a |
| Dec 31, 2022 | $8.5B | +9.7% |
| Dec 31, 2023 | $7.8B | -8.0% |
Business overview
The company operates through packaging and paper segments, with corporate and other activities supporting these operations. Its business overview covers manufacturing and sales of containerboard, corrugated products, and paper, along with human capital and regulatory matters.
Financial performance
Revenue for the reported period decreased compared to the prior year, following an increase in the previous period. Operating income and net income were reported at levels consistent with the company's financial results, and operating cash flow remained substantial.
Material risks
The filing identifies risk factors in Item 1A, covering areas such as industry and business conditions, regulatory and environmental matters, and inflation and other cost increases. These risks could affect operations, financial results, and liquidity.
Liquidity and capital
The company discusses liquidity and capital resources, including commitments and off-balance sheet arrangements, indicating a focus on maintaining financial flexibility. No specific capital allocation actions are detailed beyond the general discussion of resources.
What to watch
Monitor changes in revenue trends and industry conditions, as the company experienced a revenue decline in the most recent period after prior growth.