Packaging Corp of America (NYSE: PKG) is a containerboard and corrugated packaging company that manufactures and sells containerboard at its mills and converts it into corrugated products at its manufacturing plants. Revenue is transactional, generated from selling containerboard tons and corrugated product square footage to end-market customers. PKG operates as a vertically integrated producer, running mills that supply its own converting plants. The Packaging segment produced 5.2 million tons (305 billion square feet) of containerboard at its mills during FY2025, while corrugated products manufacturing plants sold 71 billion square feet of corrugated products. Total annual containerboard capacity was approximately 5.8 million tons (358 billion square feet) as of December 31, 2025. Mills are located in Counce, Tennessee; DeRidder, Louisiana; Filer City, Michigan; Jackson, Alabama; and Massillon, Ohio, producing kraft linerboard and corrugating medium across a range of basis weights.

Revenue model

Transactional sales of containerboard (by ton) and corrugated products (by square footage) through the Packaging segment. The company is vertically integrated, producing containerboard at mills and converting it into corrugated packaging at manufacturing plants.

Products and services

Containerboard grades including kraft linerboard and corrugating medium across multiple basis weights; corrugated products manufactured at converting plants. Containerboard mills include facilities in Counce TN, DeRidder LA, Filer City MI, Jackson AL, and Massillon OH (FY2025).

Customers and end markets

Customers of corrugated products, served through converting plants that sold 71 billion square feet of corrugated products in FY2025. Specific customer names and end-market verticals are not detailed in the available filing excerpts.

Value-chain role

Vertically integrated manufacturer: upstream containerboard mill production feeding downstream corrugated products converting plants.

Geographic exposure

United States operations across Tennessee, Louisiana, Michigan, Alabama, and Ohio mill locations, based on FY2025 10-K. International exposure not supported by available excerpts.

Source: SEC 10-K, filed 2026-02-26

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