PKG - Packaging Corporation of America (PKG) Q4 2023 Earnings Call Transcript
2024-01-25 12:18:03 ET
Packaging Corporation of America (PKG)
Q4 2023 Earnings Conference Call
January 25, 2024 9:00 AM ET
Company Participants
Mark Kowlzan – Chairman and Chief Executive Officer
Tom Hassfurther – Executive Vice President-Corrugated Products
Bob Mundy – Chief Financial Officer
Conference Call Participants
Mark Weintraub – Seaport Research Partners
Mike Roxland – Truist
Cashen Keeler – Bank of America Securities
Gabrial Hajde – Wells Fargo
Anthony Pettinari – Citi
Phil Ng – Jefferies
Charlie Muir-Sands – BNP Paribas
Richard Bourke – Bloomberg Intelligence
Presentation
Operator
Thank you for joining Packaging Corporation of America's Fourth Quarter and Full Year 2023 Earnings Results Conference Call. Your host today will be Mark Kowlzan, Chairman and Chief Executive Officer of PCA. Upon conclusion of his narrative, there will be a question-and-answer session.
I'd now like to turn the floor over to Mr. Kowlzan. Please proceed when you are ready.
Mark Kowlzan
Thank you, Jamie. Good morning, everyone, and thank you all for participating in Packaging Corporation of America's fourth quarter and full year 2023 earnings release conference call. Again, I'm Mark Kowlzan, Chairman and CEO of PCA. And with me on the call today is Tom Hassfurther, Executive Vice President, who runs the Packaging business; and Bob Mundy, our Chief Financial Officer.
As usual, I will begin the call with an overview of the fourth quarter and full year results, and then I'll be turning the call over to Tom and Bob, who'll provide further details. After they're done, I'll wrap things up, and then we'll be glad to take questions.
Yesterday, we reported fourth quarter 2023 net income of $189 million or $2.10 per share. Excluding special items, fourth quarter 2023 net income was $192 million or $2.13 per share, compared to the fourth quarter of 2022’s net income of $215 million or $2.35 per share. Fourth quarter net sales were $1.94 billion in 2023 and $1.98 billion in 2022.
Total company EBITDA for the fourth quarter, excluding special items was $394 million in 2023 and $409 million in 2022. Excluding the special items, we also reported full year 2023 earnings of $784 million or $8.70 per share compared to the 2022 earnings of $1.04 billion or $11.14 per share....
Packaging Corporation of America (PKG) Q4 2023 Earnings Call Transcript