Packaging GAAP EPS of $3.04 beats by $0.13, revenue of $2.6B misses by $30M

Total corrugated products shipments were up 10.6% per day and in total compared to the third quarter of 2025. In the legacy packaging business, corrugated products shipments were down 0.5% per day and in total compared to the third quarter of 2025, with the same number of shipping days in each period. Containerboard production was 1,489,000 tons, and containerboard inventory was up 34,000 tons compared to the second quarter of 2026 and down 29,000 tons compared to the third quarter of 2025. In the Paper segment, sales volume was down 2.5% from the third quarter of 2025.