PCA Reports Record Volumes In Strong 1Q
Box Shipments ( U.S. Corrugated Product Shipments) Industry Shipments In Billions of Square Feet Month March 2020
Lake Forest, Illinois based Packaging Corporation of America reported 1Q 2020 net income of $142 million, or $1.49 per share, and net income of $143 million, or $1.50 per share, excluding special items. 1Q net sales were $1.7 billion in 2020 and 2019. In the Packaging segment, total corrugated products shipments with one additional workday were up 5.6 per- cent and shipments per day were up 3.9 percent over last year’s 1Q. Containerboard production was 1,047,000 tons, and inventory was down 79,000 tons compared to 1Q of 2019 and down 39,000 tons from Q4 of 2019. “Strong demand in our Packaging segment drove first quarter results,” said Mark W. Kowlzan, Chairman and CEO. “We had record first quarter volume in our contain- erboard mills and a new all-time quarterly volume record in our corrugated products plants. The integration rate of our mill’s volume into our plants was 95 percent and our containerboard inventory was at the lowest level since our acquisition of the Boise packaging business. In our Paper segment, volume and prices were lower as expected, but both were slightly better than anticipated. “Both the mills and the corrugated products plants did a great job of running their operations safely, and in
Year
Actual
Percent Change Avg Week Percent Change
2020 2019
34.739 31.870
9.0
7.895 7.588
4.0
Industry Total
Year-to Date
March 2020
Year
Actual
Percent Change Avg Week Percent Change
2020 2019
98.981 94.892
4.3
7.733 7.531
2.7
Industry Total
Containerboard Consumption (Thousands of Tons)
Year
Month
Percent Change Year-to-Date Percent Change
2020 2019
2.8653 2.5967
10.3
8.1983 7.8036
5.1
Container Board Inventory - Corrugator Plants (Thousands of Tons)
Corrugator Plants Only
Date
Percent Change Weeks of Supply
Percent Change
Mar. Feb.
2.1278 2.2978
-7.4
3.3 3.7
-10.8
Shipping Days
Year
Month
Year-to-Date
2020 2019
22 21
64 63
SOURCE: Fibre Box Association
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