Filing Flows › Packaging Corp of America (PKG) › Q2 2026
Packaging Corp of America (PKG) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 7, 2026
Packaging Corp of America (PKG) reported revenue of $2.5B for the second quarter 2026 (Q2 2026), +15% from a year earlier and +5% from the quarter before. Operating margin was 11.7%, net earnings $192M (7.7% of revenue).
Packaging Corp of America, Q2 2026: revenue $2.5B (+15% year over year), operating margin 11.7%, net earnings $192M, operating cash flow $376M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.5B | +5% | +15% |
| Gross profit | $512M | +13% | +6% |
| Operating profit | $291M | +16% | -13% |
| Net earnings | $192M | +12% | -20% |
| Operating cash flow | $376M | +14% | +26% |
| Free cash flow | $170M | +3% | +31% |
What changed
Revenue was $2.5B in Q2 2026, up 15% year over year and up 5% from the previous quarter. Packaging was the largest line at 93% of revenue. Packaging added $0.31B year over year (up 15%), 96% of the total change.
Gross margin was 20.6%, down 1.7 points from Q2 2025. Operating profit was $0.29B, a 11.7% margin (down 3.7 points year over year). Operating profit fell $0.04B even though revenue rose $0.32B versus Q2 2025, so costs grew faster than sales. Operating expenses grew 48% against revenue growth of 15%. Net earnings were $0.19B, down 20% year over year. The effective tax rate was 25.8%.
Operating cash flow was $0.38B (up 26% year over year), 196% of net earnings. Non-cash charges added back $0.18B of depreciation and amortization and $0.02B of share-based compensation. Capital expenditures of $0.21B left free cash flow of $0.17B.
Questions
What was Packaging Corp of America's revenue in the second quarter 2026?
Packaging Corp of America (PKG) reported revenue of $2.5B for the second quarter 2026 (Q2 2026), +15% from a year earlier and +5% from the quarter before.
Was Packaging Corp of America profitable in the second quarter 2026?
Operating profit was $291M (11.7% of revenue) and net earnings $192M.