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    Ryan Fox

    Corrugated Market Analyst at Bloomberg

    Ryan Fox is a Corrugated Market Analyst at Bloomberg, focusing on sustainability and market trends within the packaging industry. He is recognized for his expertise in tracking the corrugated packaging and materials market, providing strategic insights to clients aiming to optimize supply chains and adopt sustainable packaging solutions. While detailed performance metrics and rankings are not publicly available, Fox’s industry commentary and analysis have made him a sought-after resource for stakeholders in the packaging sector. His professional background and specific credentials, including securities licenses or FINRA registrations, are not documented in public records.

    Ryan Fox's questions to PACKAGING CORP OF AMERICA (PKG) leadership

    Ryan Fox's questions to PACKAGING CORP OF AMERICA (PKG) leadership • Q4 2024

    Question

    Ryan Fox questioned the apparent decline in revenue per ton versus the rise in the containerboard index, asked which customers were frustrated with pricing, and queried why open market buyers would accept higher prices given market capacity.

    Answer

    CFO Robert Mundy clarified the revenue-per-ton calculation, noting it must account for declining export prices, inventory changes, and mix. An executive confirmed that 'both' box and containerboard customers were frustrated. EVP Thomas Hassfurther challenged the premise on capacity, stating that the industry sells MSF, not tons, and that the specific grades of containerboard required by customers are in limited supply, supporting the price environment.

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    Ryan Fox's questions to PACKAGING CORP OF AMERICA (PKG) leadership • Q3 2024

    Question

    Ryan Fox requested more detail on the drivers of higher operating and converting costs beyond the impact of the Wallula mill. He also asked about the company's theoretical maximum quarterly containerboard production capacity.

    Answer

    CFO Robert Mundy elaborated that in addition to the Wallula mill's impact, higher year-over-year costs were driven by increased expenses for OCC, labor and benefits, and various other costs like building rentals, professional fees, insurance, and taxes. Chairman and CEO Mark Kowlzan declined to provide a specific production capacity figure, stating only that they have sufficient capability to serve customers for the next few years.

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