Packaging Corp.: Q2 Earnings Snapshot

Associated Press Finance
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LAKE FOREST, Ill. (AP) — LAKE FOREST, Ill. (AP) — Packaging Corp. of America (PKG) on Tuesday reported second-quarter profit of $198.9 million.

On a per-share basis, the Lake Forest, Illinois-based company said it had net income of $2.21. Earnings, adjusted for non-recurring gains, came to $2.20 per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.12 per share.

The maker of containerboard and corrugated packaging products posted revenue of $2.08 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $2.03 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PKG at https://www.zacks.com/ap/PKG