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

Packaging of America

22/04/2024 22:01

* Packaging Corp of America  PKG.N  reported quarterly
adjusted
earnings of $1.72​​ per share for the quarter ended in March,
lower than the same quarter last year, when the company reported
EPS of $2.20.  The mean expectation of seven analysts for the
quarter was for earnings of $1.68 per share. Wall Street
expected results to range from $1.58  to $1.86 per share.
    * Revenue rose 0.2% to $1.98 billion from a year ago;
analysts
expected $1.91 billion. 
    * Packaging Corp of America's reported EPS for the quarter
was
$1.63​.
    * The company reported quarterly net income of $145.9
million.
    * Packaging Corp of America shares had fallen by 5.2% this
quarter and gained 10.4% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 7% 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 3 "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 $185.00 
This summary was machine generated from LSEG data April 22 at
09:00 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
 Mar. 31 2024      1.68           1.72           Beat
 Dec. 31 2023      1.83           2.13           Beat
 Sep. 30 2023      1.93           2.05           Beat
 Jun. 30 2023      1.92           2.31           Beat