Packaging Corp of America reports results for the quarter ended in June - Earnings Summary

Packaging of America

23/07/2024 22:37

* Packaging Corp of America  PKG.N  reported quarterly
adjusted
earnings of $2.20​​ per share for the quarter ended in June,
lower than the same quarter last year, when the company reported
EPS of $2.31.  The mean expectation of seven analysts for the
quarter was for earnings of $2.14 per share. Wall Street
expected results to range from $2.09  to $2.20 per share.
    * Revenue rose 6.3% to $2.08 billion from a year ago;
analysts
expected $2.02 billion. 
    * Packaging Corp of America's reported EPS for the quarter
was
$2.21​.
    * The company reported quarterly net income of $197.5
million.
    * Packaging Corp of America shares had risen by 6.0% this
quarter and gained 18.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 0.8%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 5
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the paper
packaging
peer group is also "hold"

Wall Street's median 12-month price target for Packaging Corp of
America is $194.00 
This summary was machine generated from LSEG data July 23 at
09:37 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      2.14           2.20           Beat
 Mar. 31 2024      1.68           1.72           Beat
 Dec. 31 2023                     2.13           
 Sep. 30 2023      1.93           2.05           Beat