We Anticipate Increasing Supply Will Weigh on Product Pricing and PCA's Returns in the Coming Years
Packaging Corp. of America issued strong third-quarter earnings, as box and paper pricing continued to gain traction. Sales rose just over 2% versus the second quarter, and adjusted EBITDA climbed 6% to $406 million. Most of the improvement was driven by increased selling prices in PCA's paper segment, with marginal gains in packaging as the last of the box price increases flow through. After a brutal month for paper companies, PCA's shares have rebounded 7% and look somewhat overvalued, given o...Packaging Corporation of America is a producer of containerboard products and a producer of uncoated freesheet paper. The company's segments include: Packaging, which produces a variety of corrugated packaging products, including shipping containers, multi-color boxes and displays, and honeycomb protective packaging, as well as produces packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products; Paper, which manufactures and sells papers, including both commodity and specialty papers; and Corporate and Other, which includes transportation assets, such as rail cars and trucks, to transport the company's products to and from its manufacturing sites.
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