American Forest & Paper Association Releases February 2018 Containerboard Report

Packaging Corporation of America reported third quarter 2024 net income of $238 million. Third quarter net sales were $2.2 billion in 2024 and $1.9 billion in 2023. In the Packaging segment, corrugated products shipments per day were up 11.1% over last year’s third quarter and total shipments, with one additional shipping day, were up 12.9%. Shipments per day were up 5.8% versus the second quarter of 2024 and total shipments, with one less shipping day, were up 4.1%. Containerboard production was 1,293,000 tons, and containerboard inventory was up 25,000 tons from the third quarter of 2023 and down 3,000 tons compared to the second quarter of 2024. In the Paper segment, sales volume was up 4% versus the third quarter of 2023 and up 5% versus the second quarter of 2024. Commenting on reported results, Mark W. Kowlzan, Chairman and CEO, said, “In the Packaging segment, we had great implementation of our previously announced containerboard and corrugated products price increases. Very strong demand throughout the quarter led to all-time quarterly records for containerboard production, total box shipments and shipments per day. We were able to meet this demand, and our customers’ quality and service needs, through the operational benefits of our capital spending program and the continued great focus and execution by our sales, customer service, mill and corrugated products plant employees. Our Paper segment had excellent results with our previously announced price increases implemented as planned, volume above forecasted levels, and well-managed mill operations. Fortunately, none of our facilities were significantly impacted by the two hurricanes during the quarter.”

"Crown delivered strong results in the fourth quarter, with segment income advancing 12% compared to the prior year," stated Timothy J. Donahue, Chairman, President and Chief Executive Officer. "Combined global beverage can segment income improved 17%, driven by global volume growth of 4%, led by shipment increases in Europe and North America, which grew 8% and 7%, respectively. The North American food can business also generated increased income during the quarter as a result of increased volumes while Transit Packaging saw lower volume and profitability as industrial activity remains sluggish. "2024 was an excellent year overall, exceeding previous expectations. Segment income advanced nearly $100 million or 6% over the prior year, following a 7% improvement in 2023. Combined global beverage can segment income expanded 19% over the prior year, reflecting robust volume growth – 10% in Brazil and 7% in both North America and Europe – and excellent manufacturing performance."

Smurfit Westrock invested approximately US $3.5 million in social and environmental initiatives in Colombia in 2024, reinforcing its commitment to the sustainable development of the communities where it operates. The initiatives, which positively impacted 21,800 people in more than 30 municipalities, were in areas including education, income generation and environmental management. Managed by the Smurfit Westrock Colombia Foundation, which was established in 1962, alongside the forestry division, the company has fostered deep roots within the community. Early childhood development has been one of the cornerstones of the initiatives with the Foundation’s child development center, El Caracolí, providing care for over 590 vulnerable children in Yumbo. Secondary level education also receives strong support with over 580 students attending the company’s agricultural and forestry technical institute (ITAF) school in 2024. The school, which specializes in rural education, teaches students from the Cajibío and El Tambo municipalities (Cauca) and Calima Darién (Valle del Cauca) and has above-average scores in Saber tests. To date, over 1500 students have graduated from ITAF and 40% of them have been employed in local industrial and agricultural sectors.