Consumer Discretionary
Packaging & Containers
$20.14B
14.9K
Key insights and themes extracted from this filing
Net sales reached $2.18 billion, up from $1.94 billion in the same quarter last year. The Packaging segment contributed significantly with a 14.1% increase due to higher volume and prices.
Net income increased to $238.1 million, or $2.64 per diluted share, compared to $183.2 million, or $2.03 per diluted share, in the prior year. This was driven by higher volume and prices in the Packaging segment, lower freight and logistics expenses, and lower interest expense.
While net income increased significantly, operating and converting costs also rose, partially offsetting the gains from higher sales volume and prices. This is attributed to operating the Wallula mill for the entire quarter, whereas it was temporarily idled in the prior year.