Let’s dig into the relative performance of Packaging Corporation of America (NYSE: PKG) and its peers as we unravel the now-completed Q2 industrial packaging earnings season.
Industrial packaging companies have built competitive advantages from economies of scale that lead to advantaged purchasing and capital investments that are difficult and expensive to replicate. Recently, eco-friendly packaging and conservation are driving customers preferences and innovation. For example, plastic is not as desirable a material as it once was. Despite being integral to consumer goods ranging from beer to toothpaste to laundry detergent, these companies are still at the whim of the macro, especially consumer health and consumer willingness to spend.
The 7 industrial packaging stocks we track reported a strong Q2. As a group, revenues beat analysts’ consensus estimates by 3.6%.
In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results.
Packaging Corporation of America (NYSE: PKG)
Founded in 1959, Packaging Corporation of America (NYSE: PKG) produces containerboard and corrugated packaging products as well as displays and package protection.
Packaging Corporation of America reported revenues of $2.49 billion, up 14.7% year on year. This print was in line with analysts’ expectations, but overall, it was a softer quarter for the company with a significant miss of analysts’ EPS estimates and EPS guidance for next quarter missing analysts’ expectations.
Commenting on reported results, Mark W. Kowlzan, Chairman and CEO, said, “We achieved an all-time quarterly record in total corrugated shipments in our legacy corrugated operations. Demand remained strong throughout the entire quarter, and we began to meaningfully realize the first of our previously announced price increases in the corrugated products business. The acquired Greif business contributed to earnings, driven by strong volumes at the corrugated plants and improved operational performance at the mills, with production consistently exceeding capabilities at the time of the acquisition. We continued to operate our mill system at full capacity and reduced export sales by approximately 30,000 tons from first quarter levels to support our corrugated products demand. Our volumes and outstanding operating performance across our businesses helped us mitigate significantly higher freight and recycled fiber costs.”
Interestingly, the stock is up 10.8% since reporting and currently trades at $252.75.
Read our full report on Packaging Corporation of America here, it’s free.
Best Q2: Avery Dennison (NYSE: AVY)
Founded as Kum Kleen Products, Avery Dennison (NYSE: AVY) is a manufacturer of adhesive materials, display graphics, and packaging products, serving various industries.
Avery Dennison reported revenues of $2.46 billion, up 10.9% year on year, outperforming analysts’ expectations by 7.3%. The business had a stunning quarter with an impressive beat of analysts’ organic revenue estimates and a solid beat of analysts’ EBITDA estimates.
The market seems content with the results as the stock is up 4.1% since reporting. It currently trades at $173.96.
Is now the time to buy Avery Dennison? Access our full analysis of the earnings results here, it’s free.
International Paper (NYSE: IP)
Established in 1898, International Paper (NYSE: IP) produces containerboard, pulp, paper, and materials used in packaging and printing applications.
International Paper reported revenues of $6.00 billion, down 11.3% year on year, falling short of analysts’ expectations by 3.3%. It was a mixed quarter as it posted a beat of analysts’ EPS estimates.
International Paper delivered the weakest performance against analyst estimates and slowest revenue growth among its peers. As expected, the stock is down 4.8% since the results and currently trades at $40.60.
Read our full analysis of International Paper’s results here.
Graphic Packaging Holding (NYSE: GPK)
Founded in 1991, Graphic Packaging (NYSE: GPK) is a provider of paper-based packaging solutions for a wide range of products.
Graphic Packaging Holding reported revenues of $2.19 billion, flat year on year. This print topped analysts’ expectations by 0.8%. Overall, it was a strong quarter as it also produced a solid beat of analysts’ EBITDA estimates and full-year EBITDA guidance exceeding analysts’ expectations.
The stock is up 4.1% since reporting and currently trades at $11.81.
Read our full, actionable report on Graphic Packaging Holding here, it’s free.
Ball (NYSE: BALL)
Started with a $200 loan in 1880, Ball (NYSE: BALL) manufactures aluminum packaging for beverages, personal care, and household products as well as aerospace systems and other technologies.
Ball reported revenues of $4.00 billion, up 19.7% year on year. This result surpassed analysts’ expectations by 9.8%. Overall, it was a very strong quarter as it also put up a beat of analysts’ EPS estimates.
Ball pulled off the biggest analyst estimate beat and fastest revenue growth of the whole group. The stock is down 3.2% since reporting and currently trades at $63.09.
Read our full, actionable report on Ball here, it’s free.
Market Update
Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.
Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.
By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.
Want to invest in winners with rock-solid fundamentals? Check out our Strong Momentum Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.
