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Packaging Corp of America (PKG.N)

PKG.N on New York Stock Exchange

118.80USD
21 Sep 2017
Change (% chg)

$-0.48 (-0.40%)
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Volume
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Latest Key Developments (Source: Significant Developments)

Packaging Corporation of America announces agreement to acquire Sacramento Container Corp
Monday, 21 Aug 2017 12:06pm EDT 

Aug 21 (Reuters) - Packaging Corp of America : :Packaging Corporation of America announces agreement to acquire Sacramento Container Corporation and conversion of Wallula Mill Paper Machine to high-performance 100% virgin linerboard.Deal for ‍$265 million​.Packaging Corp of America- ‍Acquisition will be accretive to earnings immediately​.Packaging Corp of America - ‍Company plans to finance transaction with available cash on hand.​.Packaging Corp Of America - ‍Acquisition transaction is structured as a purchase of assets resulting in a full step-up of assets to fair market value​.Packaging Corp of America - ‍Charges of $25 - $35 million are expected to be recorded in Q3 of 2017.Packaging Corp of America - ‍ Will discontinue production of uncoated freesheet, coated one-side grades at Wallula, Washington Mill in Q2 of 2018​.Packaging Corp of America - ‍Discontinuing paper operations at Wallula Mill will result in pre-tax cash severance, other shutdown charges of about $20 - $25 million​.Packaging Corp Of America - ‍Discontinuing paper operations at Wallula Mill to result in about $45 million-$55 million pre-tax noncash asset impairment charges.Packaging Corp of America - To also acquire 100% membership interests of Northern Sheets, Central California Sheets in a cash-free, debt-free transaction​.Packaging Corp of America - ‍ Capital cost of conversion of No. 3 Paper Machine at Wallula Mill is expected to be approximately $150 million​.  Full Article

Packaging Corp of America reports Q2 sales $1.6 billion
Wednesday, 26 Jul 2017 06:35pm EDT 

July 26 (Reuters) - Packaging Corp of America :Packaging Corporation of America reports second quarter 2017 results.Sees Q3 earnings per share $1.68.Q2 sales $1.6 billion versus I/B/E/S view $1.56 billion.Qtrly diluted EPS excluding special items $1.52.Packaging Corp of America - Q3 EPS outlook does not include potential additional costs, anticipated recoveries related to deridder mill insurance claim.Q3 earnings per share view $1.66 -- Thomson Reuters I/B/E/S.  Full Article

Packaging Corp of America sets quarterly dividend of $0.63/shr
Wednesday, 17 May 2017 05:00pm EDT 

May 17 (Reuters) - Packaging Corp of America :Sets regular quarterly dividend of $0.63 per share.  Full Article

Packaging Corporation Of America Q1 sales $1.5 bln
Wednesday, 26 Apr 2017 05:13pm EDT 

April 26 (Reuters) - Packaging Corp Of America ::Packaging Corporation Of America reports first quarter 2017 results.Sees q2 earnings per share $1.45.Q1 sales $1.5 billion.Packaging Corp Of America qtrly earnings per share $1.24.Packaging Corp Of America qtrly diluted EPS excluding special items $1.27.Packaging Corp Of America qtrly containerboard production 932,000 tons, containerboard inventory was down 16,000 tons versus year end 2016.Q1 earnings per share view $1.23, revenue view $1.48 billion -- Thomson Reuters I/B/E/S.Packaging Corp Of America-current estimate of total property damage, business interruption losses due to deridder mill incident is between $20 million-$25 million.Q2 revenue view $1.53 billion -- Thomson Reuters I/B/E/S.Estimated impact of deridder mill incident to q1 earnings, excluding capital costs, is $15 million.  Full Article

Packaging Corp Of America says explosion at Deridder mill kills three contractors
Wednesday, 8 Feb 2017 07:41pm EST 

Packaging Corp Of America : At approximately 11:10 am CST, wednesday, February 8(th), there was an explosion at Deridder, LA paper mill . Says cause of incident is under investigation . Incident involved annual repair work being performed on piping in pulp mill area and resulted in three contractor fatalities . Current assessment indicates annual outage work is expected to be delayed by up to one week, mill will then resume full operation .At time of incident, d1 machine was down for its annual outage and d3 machine was running and continues to operate.  Full Article

Packaging Corp Of America says explosion at Deridder mill kills three contractors
Wednesday, 8 Feb 2017 06:45pm EST 

Packaging Corp Of America : At approximately 11:10 am CST, wednesday, February 8(th), there was an explosion at Deridder, LA paper mill . Says cause of incident is under investigation . Incident involved annual repair work being performed on piping in pulp mill area and resulted in three contractor fatalities . Current assessment indicates annual outage work is expected to be delayed by up to one week, mill will then resume full operation .At time of incident, d1 machine was down for its annual outage and d3 machine was running and continues to operate.  Full Article

Packaging Corp Of America to acquire Columbus Container Inc
Tuesday, 11 Oct 2016 05:00pm EDT 

Packaging Corp Of America : Packaging Corporation Of America announces agreement to acquire Columbus Container, Inc. . Deal for $100 million . Packaging Corp Of America - expects to finance transaction with available cash on hand. . Acquisition will be accretive to earnings immediately. .Packaging Corp Of America-definitive agreement to acquire substantially all of assets of Columbus Container, Inc in a cash-free, debt-free transaction.  Full Article

Packaging Corp of America enters into amended, restated 5-yr credit agreement - SEC Filing
Thursday, 1 Sep 2016 11:22am EDT 

Packaging Corp of America : On August 29, company entered into amended, restated 5-year credit agreement with lenders and agents named therein - SEC Filing . Says amended credit agreement includes a new $385 million unsecured five-year term loan facility . Says amended credit agreement includes a existing $650 million unsecured seven-year term loan facility .Amended credit agreement includes $350 million unsecured revolving credit facility.  Full Article

Packaging Corp of America announces 15 pct dividend increase
Wednesday, 31 Aug 2016 05:00pm EDT 

Packaging Corp Of America : Announces 15 percent dividend increase . First quarterly dividend of $0.63 per share will be paid on October 14, 2016 .To increase quarterly cash dividend on its common stock to an annual payout of $2.52 per share from $2.20 per share.  Full Article

Packaging Corp of America Q2 EPS $1.23 excluding items
Wednesday, 20 Jul 2016 05:20pm EDT 

Packaging Corp Of America : Qtrly containerboard production was 926,000 tons . Qtrly containerboard inventory was flat compared to end of q1 of 2016 and end of q2 of 2015 . Packaging Corporation Of America reports second quarter 2016 results . Sees Q3 earnings per share $1.30 . Q2 sales $1.42 billion versus i/b/e/s view $1.46 billion . Q2 earnings per share $1.23 excluding items . Q2 earnings per share view $1.18 -- Thomson Reuters I/B/E/S . On track to close acquisition of Timbar later in q3 . Looking ahead to q3, expect higher containerboard, corrugated products and white paper shipments .Q3 earnings per share view $1.27 -- Thomson Reuters I/B/E/S.  Full Article

BRIEF-Packaging Corporation of America announces agreement to acquire Sacramento Container Corp

* Packaging Corporation of America announces agreement to acquire Sacramento Container Corporation and conversion of Wallula Mill Paper Machine to high-performance 100% virgin linerboard