Packaging Corp reports fourth-quarter profit below estimates

Packaging of America

28/01/2025 21:56

Jan 28 (Reuters) - Packaging Corp of America  PKG.N 
reported fourth-quarter profit below Wall Street estimates on
Tuesday, hurt by seasonally slower demand from its paper
products segment.
    The Lake Forest, Illinois-based company supplies paper and
packaging products for industries such as food and beverages,
paper products and retail trading.
    While demand for packaging goods is recovering from a
post-pandemic slowdown, sticky inflation and a cautious consumer
sentiment have weighed on sales.
    The company's net sales rose nearly 11% to $2.15 billion in
the quarter. Analysts, on average, estimated $2.13 billion,
according to data compiled by LSEG.
    It reported a fourth-quarter adjusted profit of $2.47 per
share, compared with the estimates of $2.53.
    

 (Reporting by Utkarsh Shetti and Nathan Gomes in Bengaluru;
Editing by Shilpi Majumdar and Alan Barona)
 ((UtkarshUmesh.Shetti@thomsonreuters.com))