Packaging Corporation of America (PKG) official guidance

We continue to forecast $840 million-$870 million of CapEx and excluding special items, around $710 million of DD&A for the year.

We continue to forecast $840 million-$870 million of CapEx and $700 million of DD&A for the year.

Regarding full-year estimates of certain key items for the upcoming year, we currently estimate dividend payments of $450 million, total CapEx to be in the range of $840 million-$870 million, and DD&A is expected to be approximately $700 million.

Costs for chemicals and energy will increase due to higher prices and higher seasonal energy usage.

Prices for containerboard and corrugated products are expected to improve as we continue to implement earlier price increases, but corrugated products mix will be seasonally weaker with higher e-commerce volumes.

Shipments per day are expected to be at or around last year’s fourth quarter level with two fewer shipping days than the third quarter and total shipments are expected to be higher than the third quarter.

Shipments per day are expected to be at or around last year’s fourth quarter level with two fewer shipping days than the third quarter and total shipments are expected to be higher than the third quarter.

Looking ahead as we move from the third quarter into the fourth quarter, we expect solid corrugated products demand with some seasonal improvement.

We expect freight costs to increase with diesel fuel prices increasing above third quarter levels.

Costs for chemicals and energy will increase due to higher prices and higher seasonal energy usage.

Considering these items, we expect fourth quarter earnings of $2.81 per share, excluding special items.

We expect freight costs to increase with diesel fuel prices increasing above third quarter levels.

Our back half estimates are now $0.30 for the third quarter and $0.63 for the fourth quarter, totaling $1.41 for the year.

We now expect $0.36 in the second, $0.31 in the third, and $0.64 in the fourth, totaling $1.44 for the year.

We have planned annual outages in 2026 at all of our mills, which will cover a higher number of outage days and tons in 2025. Including lost volume, direct costs, and amortized repair costs, we currently expect the outages to total about $1.39 a share.

Our back half estimates are now $0.30 for the third quarter and $0.63 for the fourth quarter, totaling $1.41 for the year.

We now expect $0.36 in the second, $0.31 in the third, and $0.64 in the fourth, totaling $1.44 for the year.

The current estimated impact by quarter during the year is $0.16 in the first, $0.35 in the second, $0.24 in the third, and $0.63 in the fourth.

Containerboard production will be lower with maintenance outages at three of our mills, and mill maintenance outage expenses, including the impact on production volume from fourth quarter outages, will be significantly higher in the fourth quarter.

Prices for containerboard and corrugated products are expected to improve as we continue to implement earlier price increases, but corrugated products mix will be seasonally weaker with higher e-commerce volumes.

We expect seasonally lower volume and slightly higher prices in the Paper segment.

Containerboard production will be lower with maintenance outages at three of our mills, and mill maintenance outage expenses, including the impact on production volume from fourth quarter outages, will be significantly higher in the fourth quarter.

We also expect costs for recycled fiber to continue to increase as well as higher wood fiber costs due to winter yields and mill mix.