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UPDATE: Packaging Corp Posts 54% Surge In Q4 Profit, Issues Downbeat Forecast

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Packaging Corp. of America (NYSE: PKG) reported a 54% rise in its fourth-quarter earnings.

Packaging Corp expects current-quarter earnings of $0.56 per share, versus analysts' estimates of $0.62 per share.

Packaging Corp's quarterly profit surged to $61 million, or $0.63 per share, from $39.5 million, or $0.40 per share, in the year-ago period. Excluding items, it earned $0.61 per share.

Its sales climbed 13% to $736.6 million. However, analysts were expecting earnings of $0.62 per share on revenue of $716 million.

Its gross margin climbed to 23.6% from 20.5%.

Packaging Corp shares closed at $40.02 on Friday.

 

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