Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. Even though momentum is a popular stock cha ...

Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. Packaging Corp. (PKG) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Industrial Products peers, we might be able to answer that question. Packaging Corp. is one of 218 companies in the Industrial Products group. The ...

财务业绩 - 第二季度净销售额为20.83亿美元，较2023年同期的19.52亿美元增加了12.32亿美元[125] - 包装业务收入为19.08亿美元，较2023年同期的17.90亿美元增加了1.18亿美元[128] - 纸品业务净销售额增加5.1%至1.5亿美元[128] - 净销售额增加6.3%至20.75亿美元[128] - 包装业务净销售额增加6.6%至19.08亿美元[128] - 纸业务净销售额增加6.9%至3.14亿美元[139] 盈利能力 - 包装业务营业利润为2.80亿美元，较2023年同期的2.86亿美元下降了0.06亿美元[126] - 包装业务EBITDA（不含特殊项目）为4.00亿美元，较2023年同期的4.05亿美元下降了0.05亿美元[126] - 纸品业务营业利润为0.27亿美元，较2023年同期的0.29亿美元下降了0.02亿美元[126] - 纸品业务EBITDA（不含特殊项目）为0.31亿美元，较2023年同期的0.39亿美元下降了0.08亿美元[126] - 毛利润下降7百万美元[129] - 销售、一般及管理费用增加4百万美元[130] - 营业收入下降3.0%至2.72亿美元[133] - 包装业务营业收入下降6百万美元至2.8亿美元[133] - 纸业务营业收入下降2百万美元至2700万美元[133] - 公司EBITDA为4.045亿美元，同比下降1.9%[165] - 公司EBITDA（不含特殊项目）为4.04亿美元，同比下降3.2%[165] 现金流 - 2024年上半年经营活动产生的现金流量净额为5.39亿美元，同比减少1.02亿美元[149][150] - 2024年上半年投资活动使用现金3.24亿美元，主要用于内部资本投资，预计2024年全年资本支出将在6.7亿美元至6.9亿美元之间[151] - 2024年上半年筹资活动使用现金2.49亿美元，主要用于支付股息和员工限制性股票税[152] - 剔除特殊项目影响后，2024年上半年息税折旧摊销前利润(EBITDA)为7.37亿美元[160][161] 其他 - 公司预计第三季度业绩将优于第二季度[123] - 公司将尝试在10月德里德尔工厂大修前增加一些库存[123] - 公司预计第三季度销量和价格将有所提升[123] - 公司预计第三季度运营和加工成本将有所上升[123] - 非经营性养老金收入增加6百万美元，主要由于2023年资产表现良好和假设变更有利[147] - 利息费用净额减少10百万美元，主要由于2024年投资现金利息收入增加[147] - 2024年上半年所得税费用为1.08亿美元，有效税率为23.9%，低于2023年上半年的24.6%[147] - 公司100%的未偿债务利率为固定利率[166] - 公司在2024年6月30日没有任何资产负债表外安排[167]

财务数据和关键指标变化 - 第二季度净收入为1.99亿美元,每股2.21美元,扣除特殊项目后每股2.20美元,较上年同期2.31美元下降0.11美元 [6] - 第二季度总公司EBITDA(扣除特殊项目)为4.04亿美元,较上年同期4.18亿美元下降 [7] - 第二季度包装业务EBITDA(扣除特殊项目)为4亿美元,销售额19亿美元,毛利率21%,较上年同期23%下降 [9] - 第二季度造纸业务EBITDA(扣除特殊项目)为3100万美元,销售额1.5亿美元,毛利率20.4%,较上年同期27.2%下降 [15] 各条业务线数据和关键指标变化 - 包装业务: - 箱板纸生产创历史新高,以满足瓦楞产品和箱板纸需求 [9] - 箱板纸和瓦楞产品价格和产品组合较第一季度有所上升,但仍低于上年同期 [10][13] - 外部箱板纸销量较上年同期增加4.2万吨,较第一季度增加3.5万吨 [13] - 造纸业务: - 价格和产品组合以及销量与预期一致 [16] - 销量较上年同期增长12%,但较第一季度下降8% [16] 各个市场数据和关键指标变化 - 包装业务: - 瓦楞产品需求全季度持续增强,6月创下每日发货量新纪录 [12] - 瓦楞产品发货量较上年同期增长9.2%,总发货量增长10.9% [12] - 出口箱板纸价格较第一季度上涨0.03美元/股,较上年同期下降0.03美元/股 [13] - 造纸业务: - 销量较上年同期增长12%,但较第一季度下降8% [16] 公司战略和发展方向及行业竞争 - 公司持续专注于提高生产效率和降低成本,通过数千项举措和资本支出策略实现改善 [10] - 公司正在亚利桑那州凤凰城地区建设一座新的现代化箱板厂,以满足该地区不断增长的需求 [14] - 公司一直保持高回报的资本支出项目,包括新建箱板厂和在现有箱板厂增加新的成型线和瓦楞机 [48][58][60] - 公司密切关注行业动态,但不会对竞争对手的策略做出评论,而是专注于自身的执行策略 [40] 管理层对经营环境和未来前景的评论 - 第三季度价格和产品组合将继续上升,预计每股收益为2.45美元 [22][24] - 预计第三季度瓦楞产品发货量将创新高,箱板纸产量也将增加 [22][23] - 预计第三季度运营和加工成本将有所上升,主要受季节性电力使用和价格以及回收纤维成本略有上升的影响 [24] 其他重要信息 - 第二季度经营活动产生的现金流为2.78亿美元,自由现金流为3300万美元 [18] - 公司将全年资本支出指引从4.7亿-4.9亿美元上调至6.7亿-6.9亿美元,主要用于箱板厂的高回报增长和产品组合提升项目以及亚利桑那州新建箱板厂 [20] - 公司维持审慎的现金分配策略,包括股息、股票回购等,以实现公司盈利增长和为股东创造最大回报 [71][72] 问答环节重要的提问和回答 问题1 **George Staphos 提问** 询问第二季度运营成本上升0.31美元/股的主要原因,以及第三季度成本预期 [26][27][28][29] **Bob Mundy 回答** 第二季度沃卢拉厂全月运营,而上年同期仅运营1个月,这是成本上升的主要原因之一。此外,能源和回收纤维成本也有所上升。第三季度成本预计将相对稳定,仅小幅上升 [27][28][29] 问题2 **Mike Roxland 提问** 询问第二季度实际表现较预期好0.13美元/股的主要原因 [35][36][37] **Mark Kowlzan 回答** 主要是销量增加以及运营效率提升带来的正面影响 [36][37] 问题3 **Tom Hassfurther 回答** 公司专注于与合适的客户群和细分市场进行战略性合作,这是公司持续强劲增长的主要原因。公司不会对竞争对手的策略做出评论 [40]

Packaging Corporation of America (PKG) reported adjusted earnings per share (EPS) of $2.20 in the second quarter of 2024, beating the Zacks Consensus Estimate of $2.12. The reported figure was higher than the company's guidance of $2.07 in the quarter under review. However, the bottom line decreased 5% year over year. Gains from higher volumes in both segments and decreased costs were partially offset by lower prices and mix. Including one-time items, earnings in the reported quarter were $2.21 per share co ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. While many investors like to look for momen ...

Shares of Packaging Corp. have returned +1.9% over the past month versus the Zacks S&P 500 composite's +2% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. For the quarter ended June 2024 ...

Packaging Corp. (PKG) came out with quarterly earnings of $2.20 per share, beating the Zacks Consensus Estimate of $2.12 per share. This compares to earnings of $2.31 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 3.77%. A quarter ago, it was expected that this maker of containerboard and corrugated packaging products would post earnings of $1.63 per share when it actually produced earnings of $1.72, delivering a surprise of ...

Excluding special items, the ($.11) per share decrease in second quarter 2024 earnings compared to the second quarter of 2023 was driven primarily by lower prices and mix in the Packaging segment ($.87) and Paper segment ($.07), higher operating costs ($.31), higher depreciation expense ($.03), and a higher tax rate ($.03). These items were partially offset by higher volume in the Packaging segment $.94 and Paper segment $.07, lower other converting costs $.07, lower freight and logistics expenses $.06, and ...

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Packaging Corp. (PKG) , which belongs to the Zacks Containers - Paper and Packaging industry, could be a great candidate to consider. This maker of containerboard and corrugated packaging products has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the ...