Legendary Talking About Pacific Rim 2, But Nothing Official

While there's no official work being done on the project, Legendary Pictures is still considering the possibility of Pacific Rim 2. While speaking to I Am Rogue, producer Thomas Tull explained the situation:

Here's the deal. We're very close with [director Guillermo del Toro]. He's doing Crimson Peak for us right now. With the amount of money that we did on Pacific Rim, over $400 million, it didn't quite hit our expectations, but it did better than a lot of other films. If there's another great story to tell with Guillermo then we're all over it because we think it's really hard to create one of these things from scratch. The movie did really well on home video and merchandise, and it certainly has a big international following. We're not just going to do Pacific Rim 2 just to do it. Right now we're talking to Guillermo del Toro. If we can crack the story, we all think it's great, and it's him at the helm, then fantastic. But right now there's nothing going on officially to proclaim.

So they're not willing to commit to a sequel just for the sake of a sequel, but if del Toro is on board and the script works than there's still a chance. Last we heard, del Toro was working on the script for Pacific Rim 2 with co-writer Travis Beachem, so it sounds like there's still hope for a sequel after all, even if the original underperformed by the studio's standard.