Filing Flows › Packaging Corp of America (PKG) › Q2 2025
Packaging Corp of America (PKG) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Packaging Corp of America (PKG) reported revenue of $2.2B for the second quarter 2025 (Q2 2025), +5% from a year earlier and +1% from the quarter before. Operating margin was 15.4%, net earnings $242M (11.1% of revenue).
Packaging Corp of America, Q2 2025: revenue $2.2B (+5% year over year), operating margin 15.4%, net earnings $242M, operating cash flow $300M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.2B | +1% | +5% |
| Gross profit | $483M | +6% | +10% |
| Operating profit | $334M | +19% | +21% |
| Net earnings | $242M | +18% | +21% |
| Operating cash flow | $300M | -12% | +8% |
| Free cash flow | $130M | -32% | +290% |
What changed
Revenue was $2.2B in Q2 2025, up 5% year over year and up 1% from the previous quarter. Packaging was the largest line at 92% of revenue. Packaging added $0.10B year over year (up 5%), 102% of the total change. Paper declined 3%.
Gross margin was 22.2%, up 1.2 points from a year earlier. Operating profit was $0.33B, a 15.4% margin (up 2.1 points year over year). Of the extra revenue versus a year earlier, 60% reached operating profit, above the 13% margin then. Operating expenses fell 8% while revenue rose 5%. Net earnings were $0.24B, up 21% year over year. The effective tax rate was 24.7%.
Operating cash flow was $0.30B (up 8% year over year), 124% of net earnings. Non-cash charges added back $0.14B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.09B. Capital expenditures of $0.17B left free cash flow of $0.13B.
Questions
What was Packaging Corp of America's revenue in the second quarter 2025?
Packaging Corp of America (PKG) reported revenue of $2.2B for the second quarter 2025 (Q2 2025), +5% from a year earlier and +1% from the quarter before.
Was Packaging Corp of America profitable in the second quarter 2025?
Operating profit was $334M (15.4% of revenue) and net earnings $242M.