Packaging Corporation of America (PCA) reported Q2 2023 net income of $203 million, or $2.24 per share, and net income of $209 million, or $2.31 per share, excluding special items. Q2 net sales were $2.0 billion in 2023 and $2.2 billion in 2022.
Excluding special items, the ($.92) per share decrease in Q2 2023 earnings compared to the Q2 2022 was driven primarily by lower volumes in the Packaging ($.90) and Paper ($.07) segments, lower price and mix in the Packaging segment ($.47), higher depreciation expense ($.09), and higher other converting costs ($.03).
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