Packaging Corp. of America Fourth-Quarter Results Beat Expecations
January 30 2018 - 6:27PM
Dow Jones News
By Aisha Al-Muslim
Packaging Corp. of America (PKG) reported fourth-quarter
earnings that beat analyst expectations, driven primarily by higher
prices and mix and volumes in its packaging segment.
The Lake Forest, Ill.-based company reported a profit of $268.9
million, or $2.84 a share, up from $110.6 million, or $1.17 a
share, a year earlier. Revenue of the producer of containerboard
products and uncoated freesheet paper jumped 14.3% to $1.68
billion.
Excluding tax-related items and others items, Packaging Corp.
earned $1.56 a share, compared with $1.23 a share the year before.
Analysts polled by Thomson Reuters had forecast adjusted earnings
of $1.51 a share on $1.61 billion in revenue.
The company reported $122.1 million of estimated income tax
benefit related to the U.S. tax reform.
The stock has remained unchanged at $124.71 in after-hours
trading Tuesday. Shares are up 36% in the last year.
Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com
(END) Dow Jones Newswires
January 30, 2018 18:12 ET (23:12 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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