PACKAGING CORPORATION Reports Q2 of FY2023 Earnings Results on July 25, 2023

🌥️Earnings Overview

On July 25 2023, PACKAGING CORPORATION ($NYSE:PKG) released its earnings report for the second quarter of FY2023, ending June 30 2023. The company reported a total revenue of USD 1952.1 million, a decrease of 12.7% from Q2 of FY2022. Net income for the same period was USD 202.7 million, a decrease of 32.8% year-over-year.

Market Price

On Tuesday, July 25, 2023, PACKAGING CORPORATION reported their Q2 of FY2023 earnings results. The result showed an increase in the company’s stock price, with shares opening at $145.1 and closing at $152.6 – soaring by 10.1% from their last closing price of $138.7. As the results were released, investors were impressed with the company’s performance, driving the stock prices up. Overall, the positive earnings results bode well for PACKAGING CORPORATION’s future. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Packaging Corporation. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Packaging Corporation. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Packaging Corporation. More…

Key Ratios Snapshot

Some of the financial key ratios for Packaging Corporation are shown below. More…

Analysis

At GoodWhale, we recently performed an analysis of PACKAGING CORPORATION‘s wellbeing. After a thorough review of their financial and business aspects, we have concluded that PACKAGING CORPORATION is a low risk investment according to our Risk Rating. However, we have also detected one risk warning in the income sheet. This should be taken into consideration when making a decision to invest. For more information, we encourage our users to register on goodwhale.com to check out the details. More…

Peers

Packaging Corp of America is one of the largest packaging companies in the world. Its competitors include Tomypak Holdings Bhd, PT Sriwahana Adityakarta Tbk, and Shanghai Xintonglian Packing Co Ltd.

– Tomypak Holdings Bhd ($KLSE:7285)

Tomypak Holdings Bhd is a Malaysian company that is involved in the packaging and manufacturing of food products. The company has a market capitalization of 168.14 million as of 2022 and a return on equity of -0.75%. The company’s products are sold in Malaysia, Singapore, Indonesia, and the Philippines.

– PT Sriwahana Adityakarta Tbk ($IDX:SWAT)

Sriwahana Adityakarta Tbk is an Indonesian holding company with interests in a range of businesses, including banking, finance, property development, and mining. The company has a market capitalization of $172.09 billion as of 2022 and a return on equity of 9.34%. Sriwahana Adityakarta Tbk is a publicly traded company listed on the Indonesia Stock Exchange.

– Shanghai Xintonglian Packing Co Ltd ($SHSE:603022)

Shanghai Xintonglian Packing Co Ltd is a company that manufactures and sells packaging products. The company has a market cap of 2.02B as of 2022 and a return on equity of 3.94%. The company’s products include plastic bags, paper bags, and other packaging products. The company’s products are used in a variety of industries, including food, beverage, and pharmaceutical.

Summary

Investors are likely to be disappointed by the results of Packaging Corporation‘s second quarter of fiscal year 2023, ending June 30 2023. Total revenue decreased by 12.7% compared to the same period last year, and net income dropped by 32.8%. Despite this, the stock price rose on the results announcement day, indicating that investors see potential for improvement in the near future. It remains to be seen whether this potential will be realized, and investors should watch this company closely to assess its performance going forward.