Last $67.16 USD
Change Today -0.20 / -0.30%
Volume 1.2M
PKG On Other Exchanges
Symbol
Exchange
New York
Munich
As of 8:04 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

packaging corp of america (PKG) Snapshot

Open
$67.16
Previous Close
$67.36
Day High
$67.70
Day Low
$66.50
52 Week High
03/6/14 - $75.10
52 Week Low
04/22/13 - $42.64
Market Cap
6.6B
Average Volume 10 Days
1.1M
EPS TTM
$3.28
Shares Outstanding
98.3M
EX-Date
03/12/14
P/E TM
20.5x
Dividend
$1.60
Dividend Yield
2.38%
Current Stock Chart for PACKAGING CORP OF AMERICA (PKG)

packaging corp of america (PKG) Related Businessweek News

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packaging corp of america (PKG) Details

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States, Mexico, Canada, and Europe. The company operates through three segments: Packaging, Paper, and Corporate and Other. It offers corrugated packaging products, including conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to promote packaged product in retail locations; and honeycomb protective packaging. The company also produces packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products, as well as newsprint for newspaper publishers. In addition, it manufactures and sells white papers, including both commodity and specialty papers with various features, such as colors, coatings, high brightness, and recycled content. The white papers consist of communication papers, such as cut-size office papers, and printing and converting papers; and pressure sensitive papers, including release liners that are used to produce labels for use in consumer and commercially-packaged products. Further, the company produces market pulp. Packaging Corporation of America was founded in 1867 and is headquartered in Lake Forest, Illinois.

13,600 Employees
Last Reported Date: 02/28/14
Founded in 1867

packaging corp of america (PKG) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: $994.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $550.0K
Executive Vice President of Corrugated Produc...
Total Annual Compensation: $781.0K
Senior Vice President, General Counsel and Se...
Total Annual Compensation: $400.0K
Senior Vice President Sales and Marketing - C...
Total Annual Compensation: $338.0K
Compensation as of Fiscal Year 2013.

packaging corp of america (PKG) Key Developments

Packaging Corporation of America Agrees to Settle Kleen Products Class Action Lawsuit

Packaging Corporation of America announced that it has reached an agreement to settle a civil, class action lawsuit filed against PCA and eight other North American manufacturers of containerboard. The lawsuit, filed in 2010, is pending in the U.S. District Court for the Northern District of Illinois. Under the terms of the agreement, which must be approved by the court, PCA will pay $17.6 million into a settlement fund in return for a dismissal and release of all claims of the purported class. PCA will record a reserve for the expected settlement of the agreement in first quarter 2014 results, which will result in an after-tax charge of $11.3 million, or $0.11 per share.

Packaging Corporation of America Approves Regular Quarterly Dividend Payable on April 15, 2014

Packaging Corporation of America announced that its Board has approved a regular quarterly dividend of $0.40 per share on its common stock. The quarterly dividend of $0.40 per share will be paid to shareholders of record as of March 14, 2014 with a payment date of April 15, 2014.

Packaging Corporation of America Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Provides Earnings Guidance for the First Quarter and Full Year of 2014

Packaging Corporation of America announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported net sales of $1,264.4 million against $736.6 million a year ago. Income from operations was $121.1 million against $98.4 million a year ago. Income before interest and taxes was $93.2 million against $89.0 million a year ago. Net income was $227.0 million against $61.0 million a year ago. Diluted earnings per share were $2.33 against basic and diluted earnings per share of $0.63 a year ago. EBITDA was $193.1 million against $141.7 million a year ago. EBITDA excluding special items was $247.8 million against $143.7 million a year ago. Income from operations, excluding special items was $175.8 million against $100.4 million a year ago. Net income excluding special items was $101.2 million or $1.04 per diluted share against $59.0 million or $0.61 per diluted share a year ago. The company earnings increase of $0.23 per share resulted from improved price and mix ($0.36) and volume ($0.04), and was partially offset by cost increases for repairs ($0.03), fiber ($0.03), labor ($0.03), energy ($0.02), depreciation ($0.02), chemicals ($0.01) and other items ($0.03). In the fourth quarter, cash generated from operations was $188 million, and for the year, $608 million. Capital expenditures for the quarter were $104 million. For the full year, the company reported net sales of $3,665.3 million against $2,843.9 million a year ago. Income from operations was $473.6 million against $443.4 million a year ago. Income before interest and taxes was $415.3 million against $380.5 million a year ago. Net income was $436.3 million against $163.8 million a year ago. Diluted earnings per share were $4.47 against $1.68 a year ago. EBITDA was $675.4 million against $614.2 million a year ago. EBITDA excluding special items was $742.4 million against $520.7 million a year ago. Income from operations, excluding special items was $540.6 million against $349.9 million a year ago. Net income excluding special items was $320.2 million or $3.28 per diluted share against $200.8 million or $2.06 per diluted share a year ago. In the year, cash generated from operations was $608 million. Capital expenditures were $234 million. The company provided earnings guidance for the first quarter and full year of 2014. The company currently expects first quarter earnings of $1.00 to $1.05 per share. For the full year, the company expects total capital expenditures to be between $380 million to $400 million, including normal capital, required capital for synergies, Boiler MACT and the DeRidder conversion projects. The combined federal and state effective tax rate is expected to be about 36.5%, with a cash tax rate at about 31%. Based on current long-term debt with no additional debt pay down and current LIBOR rates, the company’s interest expense in 2014 is expected to be about $87 million, and cash interest payments are expected to be about $80 million. That's about $10 million below the combined interest expense for Boise and PCA prior to the acquisition.

 

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Industry Analysis

PKG

Industry Average

Valuation PKG Industry Range
Price/Earnings 15.0x
Price/Sales 1.8x
Price/Book 4.9x
Price/Cash Flow 15.1x
TEV/Sales 1.0x
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