Packaging Corporation of America (NYSE:PKG) Q1 2024 Earnings Call Transcript

Tom Hassfurther: Well, one reason is that we’ve been very, very focused on, as I said, our existing customers. Our CapEx has been around those existing customers. And some of those customers, as I indicated in the past, coming out of COVID, we had a large customer base that had really gone through some very significant destocking of inventory and they were kind of slow to recover. And they have now recovered at a very rapid rate. And so that’s been very helpful to us because if you look at our — it’s no secret, I mean, we had a pretty easy comp you know a year ago. And we’re — so the number looks very, very good. But as you look at last year, second quarter, third quarter, fourth quarter of ’23, all improved and kept improving.

And so in order to keep up this pace, we’re going to have to keep improving throughout the year, which we seek happening. But, it’s a whole myriad of things, but also we’ve got some real lift from a couple of significant customers that had really lagged coming out of COVID.

Ryan Fox: Brilliant. Thank you so much.

Mark Kowlzan: Thank you. Any further questions?

Operator: [Operator Instructions] And sir, at this time in showing no additional questions, I’d like to turn the floor back over to you, Mr. Kowlzan, for any closing comments.

Mark Kowlzan: I’d like to thank everybody for joining us today and look forward to talking with you later at the end of July to give you the second quarter results and spend some time with you then. Have a good day. Take care. Thank you.

Operator: Ladies and gentlemen, that does complete today’s conference call and presentation. We thank you for joining. You may now disconnect your lines.