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Research Alert: Pkg Reports Mixed Q1 Results, Provides Q2 Guidance

-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

PKG reported mixed Q1 2026 results with adjusted EPS of $2.40, up $0.09 Y/Y and beating guidance of $2.20, while net sales rose 11% to $2.4B ($40M below expectations) driven by the Greif acquisition and volume growth in the legacy business. Total corrugated shipments per day surged 21.8% including Greif operations, with legacy business achieving record shipments per day (+2.8% Y/Y) despite one fewer shipping day. We view the operational excellence and the Greif integration progress as positive, with containerboard inventory down 39k tons sequentially and mills running at full capacity with strong production efficiency. Management guided for Q2 adjusted EPS to $2.33, reflecting cautious optimism amid higher maintenance outage expenses at five mills and increased freight costs. We expect continued strong packaging demand to support full mill capacity utilization, while the company focuses on completing Greif integration and inventory optimization across acquired corrugated facilities.

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