Packaging Corporation of America Reports In-Line Quarter

Shares of Packaging Corporation of America PKG are trading flat in the after-hours following the release of the company's Q3 earnings results. Currently, shares are bid $21.28, at $26.97; they ended the regular session lower by 4.08%, at $24.66. Packaging Corporation of America reported Q3 EPS of $0.43 (excluding items amounting to $0.01 per share) on revenues of $671 million; the Street was looking for $0.43 per share. Revenues for the quarter increased 4.4% year over year, while year to date revenues ($2.0 billion) are up 8.7% over 2010. Commenting on results, Mark W. Kowlzan, Chief Executive Officer of PCA, said, "Our corrugated products demand remained strong throughout the quarter. Our mills and box plants ran exceptionally well setting quarterly records for production and sales. Cost inflation, however, continued to impact our results and remains a concern.” “Finally, our major energy projects at our Counce, Tennessee and Valdosta, Georgia linerboard mills remain on schedule for a December 1 completion." Packaging Corporation of America is a producer of containerboard and corrugated products in the United States. PCA's corrugated products manufacturing plants produce a range of corrugated packaging products, including shipping containers used to protect and transport manufactured goods, multi-color boxes and displays with strong visual appeal that help to merchandise the packaged product in retail locations.