Silgan CEO ‘very disappointed’ after Q2, lowers guidance amid demand shift

The consumer goods packaging company said it’s past pandemic-era destocking but a new wave of inventory issues has emerged. It will begin “rightsizing” its footprint to adjust to customers’ 2023 expectations.

By Maria Rachal • July 27, 2023

Sticky destocking, demand issues drag down PCA’s earnings

Packaging Corp. of America had predicted that destocking largely would wind down in Q2, but the trend continues to some degree.

By Katie Pyzyk • July 26, 2023

Crown sales fell 11% in Q2 amid varied consumer spending trends

Inflation, promotional activity and other factors impacted different markets. The can manufacturer anticipates new capacity will come online in the U.S. and the U.K. next month.

By Maria Rachal • July 26, 2023

Confidence wanes about Q2 packaging earnings improvements

Despite easing inflationary pressure, weak demand and destocking continue to impact producers’ volumes, analysts said. One of the first packaging producers to report earnings this cycle saw sales decline 22% year over year.

By Katie Pyzyk • July 24, 2023

Cascades Specialty Products names new president

Jérôme Porlier has held various tissue and packaging sector roles since joining Cascades in 2012. He takes over for Luc Langevin, who held the president position since 2011.

By Katie Pyzyk • July 21, 2023

Destocking trend lingers, June data suggests

Labor data and purchasing managers’ index readings shed new light on the state of manufacturing and inventories, as economists and analysts weigh in.

By Maria Rachal • July 13, 2023

Coca-Cola targets sustainable packaging innovations with $137.7M venture fund

The company expects the investments, managed by Greycroft, will provide greater access to emerging technologies to boost sustainability and reduce carbon emissions as 2025 and 2030 goals loom.

By Katie Pyzyk • July 13, 2023

DS Smith anticipates improved box volumes following dip that dragged down financial results

The U.K.-based packaging company is investing heavily in innovation, especially to help customers replace plastic products with fiber.

By Katie Pyzyk • June 26, 2023

Stora Enso to lay off 1,150 employees amid restructuring

The Finland-based fiber and forestry company is making changes at facilities in multiple countries to boost profitability and competitiveness after signaling financial trouble for months.

By Katie Pyzyk • June 15, 2023

Data from CPI, Fed and cardboard box sales may signal slowing economy

A broadening “cardboard box recession” could be a harbinger of a wider global recession. 

By Katie Pyzyk • Updated June 15, 2023

Destocking is out, higher-priced ‘urgent orders’ are in, Greif CEO says

Although the company’s numbers were down year over year, executives reiterated that this Q2 was the second-strongest in company history. They also discussed initial results from recent acquisitions.

By Katie Pyzyk • June 14, 2023

Avery Dennison announces new CEO and current leader’s retirement

Deon Stander, currently president and chief operating officer, will take over as CEO later this year.

By Katie Pyzyk • May 24, 2023

Packaging manufacturing investments and expansions in 2023

Amid an industry theme of pullbacks in production, companies including Smurfit Kappa, PulPac and Berry Global have all recently shared expansion updates.

By Maria Rachal • May 16, 2023

US inflation again eased in April

The plastics manufacturing workforce saw a little growth last month, while paper manufacturing’s workforce declined.

By Maria Rachal • May 12, 2023

Amazon, Yum Brands, Kroger face upcoming shareholder votes on circular packaging

Yum Brands — the fast-food corporation behind KFC, Pizza Hut and Taco Bell — is set to consider a proposal Thursday on single-use packaging, with meetings at Amazon and Restaurant Brands International to follow next week.

By Maria Rachal • May 10, 2023

Pactiv Evergreen gives updates on restructuring and shifting consumer spending

CEO Michael King said the company is adapting to tighter consumer spending and gave an estimated June date for previously announced facility closures in Arkansas and North Carolina.

By Katie Pyzyk • May 10, 2023

Destocking effects linger for packaging manufacturers

Q1 and April inventory trends — and what they might mean for the second half of the year —  were discussed by paper, glass, metal and plastic packaging executives in recent earnings calls.

By Katie Pyzyk , Maria Rachal • May 9, 2023

Berry execs talk consolidation, shifting priority sectors

The company is “rationalizing” 15 facilities across the world — and more could be affected — to boost efficiencies and productivity.

By Katie Pyzyk • May 8, 2023

Ball’s beverage can shipments decline amid weaker consumer spending

Executives said Ball will continue to take downtime at facilities in Q2, and it’s moving forward to close a plant in Wallkill, New York. The coming summer months and new products offer some reasons for optimism, though.

By Maria Rachal • May 5, 2023

WestRock sees ‘unprecedented drop in volumes,’ will continue closing inefficient facilities

Streamlining measures are helping to “successfully navigate this slower demand environment,” said CEO David Sewell.

By Katie Pyzyk • May 4, 2023

Sealed Air rebrands as SEE, emphasizing automation and digital solutions

The announcement came as the global packaging company reported results from a “tough quarter” but outlined 2027 growth plans on multiple fronts, including through its recently finalized Liquibox acquisition.

By Maria Rachal • May 4, 2023

Federal Reserve hikes main rate while ‘highly attentive to inflation risks’

It raised the main interest rate by a quarter percentage point and suggested that in the future it may pause its most aggressive monetary policy in four decades, depending on incoming data on inflation and other factors.

By Jim Tyson • May 4, 2023

Amcor plans further labor cuts as weak demand and destocking persist

The company lacks optimism that market challenges will abate in the near term. Executives foresee volume weakness during what is typically the seasonally strongest quarter for the North American beverage business.

By Maria Rachal • May 3, 2023

Graphic Packaging touts diverse end market portfolio, launches Chick-fil-A insulated fiber cups

Executives lauded gains in the face of challenging Q1 fiber demand, while announcing a new partnership for insulated, double-walled fiber cups to displace plastic foam.

By Katie Pyzyk • May 2, 2023

Sonoco reports food packaging sales helped balance weak quarter for aerosols

“We are cautiously optimistic about the remainder of the year,” CFO Rob Dillard said on a Tuesday earnings call, as the company raised aspects of its full-year guidance.

By Maria Rachal • May 2, 2023