![PACKAGING CORP OF AMERICA [PKG] reports annual net loss of $765.2 million](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FPKG.png&w=3840&q=75)
PACKAGING CORP OF AMERICA [PKG] reports annual net loss of $765.2 million
Company Reports Revenue of $7.8 billion
PACKAGING CORP OF AMERICA [PKG] has reported a net loss of $765.2 million for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $7.8 billion
Based in LAKE FOREST, Illinois, PACKAGING CORP OF AMERICA operates in the MANUFACTURING sector.
In the year ended December 31, 2023, the company reported net sales of $7,802.4 million, which was a decrease from the previous year's figure of $8,478.0 million. The cost of sales for the same period was $6,103.5 million, lower than the previous year's cost of sales of $6,387.4 million. This led to a gross profit of $1,698.9 million in 2023 compared to $2,090.6 million in 2022.
Selling and administrative expenses amounted to $580.9 million in 2023, down from $608.6 million in the previous year. The company also reported income from operations of $1,075.1 million for the year, a decrease from $1,420.7 million in 2022.
