Packaging Corp.: Q2 Earnings Snapshot
LAKE FOREST, Ill. (AP) _ Packaging Corp. of America (PKG) on Monday reported second-quarter net income of $301.5 million.
On a per-share basis, the Lake Forest, Illinois-based company said it had profit of $3.20. Earnings, adjusted for one-time gains and costs, came to $3.23 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.87 per share.
The maker of containerboard and corrugated packaging products posted revenue of $2.24 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $2.13 billion.