Packaging Corp. of America (PKG) is up after reporting first-quarter 2026 results that came in ahead of expectations on an adjusted basis and above its prior quarterly outlook, reinforcing confidence that containerboard and corrugated demand is improving. The company also issued a second-quarter earnings outlook of $2.33 per share excluding special items, keeping attention on pricing realization and seasonal volume strength as the year progresses. (markets.financialcontent.com)

PKG reported Q1 2026 net income of $171 million, or $1.91 per share, and $2.40 per share excluding special items, with net sales of $2.4 billion. Management said the quarter benefited from favorable price/mix and lower fiber costs in the legacy packaging business, and highlighted a first-quarter record for shipments per day in its legacy corrugated operations. (markets.financialcontent.com)

For Q2, PKG expects demand in Packaging to remain strong, corrugated volume to rise with an extra shipping day and seasonal improvement, and prices for containerboard and corrugated products to move higher as previously announced increases are implemented. Offsetting items to watch include higher freight, fiber and chemicals costs, scheduled maintenance outages at multiple containerboard mills, and the performance of the acquired Greif operations, which produced a loss in Q1. (markets.financialcontent.com)