Packaging of America (NYSE: PKG) reported third quarter 2024 net income of $238 million, or $2.64 per share. Excluding special items, net income was $239 million, or $2.65 per share. Third quarter net sales were $2.2 billion in 2024, up from $1.9 billion in 2023.

Key highlights:

• Earnings increased $0.60 per share compared to Q3 2023, driven by higher volume and prices in the Packaging segment
• Corrugated products shipments per day were up 11.1% over Q3 2023
• Containerboard production reached 1,293,000 tons
• Paper segment sales volume increased 4% versus Q3 2023

The company expects Q4 earnings of $2.47 per share, with continued strong demand in the Packaging segment but lower shipments in the Paper segment.