Packaging Corporation of America reported fourth quarter 2022 net income of $212 million, or $2.31 per share, and net income of $215 million, or $2.35 per share, excluding special items. Fourth quarter net sales were $1.98 billion in 2022 and $2.04 billion in 2021. Full year 2022 net income was $1.03 billion, or $11.03 per share, and net income of $1.04 billion, or $11.14 per share, excluding special items. Full year net sales were $8.5 billion in 2022 and $7.7 billion in 2021. In the Packaging segment, shipments per day were down (8.7%) and total corrugated products shipments, with one less shipping day, were down (10.2%) versus last year’s fourth quarter. Containerboard production was 961,000 tons, and containerboard inventory was down 66,000 tons from the third quarter of 2022 and down 46,000 tons compared to the fourth quarter of 2021. In the Paper segment, sales volume was down 14,000 tons compared to the third quarter of 2022 and down 15,000 tons from the fourth quarter of 2021.
Please be advised that KODIAKOOLER® will generally increase prices on all products effective January 31st, 2021.
This decision did not come lightly as many factors contributed to the necessary change including: Increase costs of our raw materials; Increases in freight from our shippers and logistics; Increase cost and demand brought on by COVID-19; Increase costs of labor.
Please be assured that KODIAKOOLER has made every effort to keep this increase to a minimum and will continue to monitor current situations that could affect future price structures.