Packaging Corp of America hits record high as Q4 results beat

Packaging of America

25/01/2024 15:09

** Packaging Corp of America's  PKG.N  shares jump as much
as 7.2% to all-time high of $176.97
    ** Company reported Q4 results on Wednesday
    ** Company posted Q4 EPS of $2.13 vs LSEG est of $1.83/shr
on strong pricing for its paper packaging products, as well as
lower input costs
    ** Reported Q4 net sales of $1.97 bln vs est $1.91 bln
    ** "In our packaging segment, we expect higher total
corrugated products shipments from continued strong demand and
two additional shipping days in the first quarter" - CEO Mark
Kowlzan
    ** Company's shares rose 27.4% in 2023

 (Reporting by Juveria Tabassum in Bengaluru)
 ((Juveria.Tabassum@thomsonreuters.com))