Filing Flows › Packaging Corp of America (PKG) › Q3 2026
Packaging Corp of America (PKG) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 5, 2026
Packaging Corp of America (PKG) reported revenue of $2.6B for the third quarter 2026 (Q3 2026), +12% from a year earlier and +4% from the quarter before. Operating margin was 14.8%, net earnings $262M (10.1% of revenue).
Packaging Corp of America, Q3 2026: revenue $2.6B (+12% year over year), operating margin 14.8%, net earnings $262M, operating cash flow $472M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.6B | +4% | +12% |
| Gross profit | $604M | +18% | +20% |
| Operating profit | $385M | +32% | +19% |
| Net earnings | $262M | +37% | +16% |
| Operating cash flow | $472M | +25% | -0.1% |
| Free cash flow | $224M | +32% | -20% |
What changed
Revenue was $2.6B in Q3 2026, up 12% year over year and up 4% from the previous quarter. Packaging was the largest line at 93% of revenue. Packaging added $0.29B year over year (up 13%), 99% of the total change.
Gross margin was 23.2%, up 1.4 points from Q3 2025. Operating profit was $0.39B, a 14.8% margin (up 0.8 points year over year). Of the extra revenue versus Q3 2025, 21% reached operating profit, above the 14% margin then. Operating expenses grew 22% against revenue growth of 12%. The fastest-growing cost line was Other operating costs (+41%). Net earnings were $0.26B, up 16% year over year. The effective tax rate was 25.9%.
Operating cash flow was $0.47B (roughly flat year over year), 180% of net earnings. Non-cash charges added back $0.18B of depreciation and amortization and $0.02B of share-based compensation. Capital expenditures of $0.25B left free cash flow of $0.22B.
Questions
What was Packaging Corp of America's revenue in the third quarter 2026?
Packaging Corp of America (PKG) reported revenue of $2.6B for the third quarter 2026 (Q3 2026), +12% from a year earlier and +4% from the quarter before.
Was Packaging Corp of America profitable in the third quarter 2026?
Operating profit was $385M (14.8% of revenue) and net earnings $262M.