Wed, Jan 25, 2023 6:48 PM
STATS Perform dba Automated Insights
LAKE FOREST, Ill. (AP) _ Packaging Corp. of America (PKG) on Wednesday reported fourth-quarter profit of $211.7 million.
The Lake Forest, Illinois-based company said it had profit of $2.31 per share. Earnings, adjusted for non-recurring costs, came to $2.35 per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.24 per share.
The maker of containerboard and corrugated packaging products posted revenue of $1.98 billion in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $2.05 billion.
For the year, the company reported profit of $1.03 billion, or $11.03 per share. Revenue was reported as $8.48 billion.