Packaging Corp Of America Q3 Earnings Top Estimates - Packaging Corp of America (NYSE:PKG)

Packaging Corp Of America PKG reported third-quarter FY21 sales growth of 18.1% year-on-year, to $2 billion, beating the analyst consensus of $1.93 billion.
Sales from the Packaging segment rose 21.9% Y/Y, and the Paper segment declined 15.6%.
Gross profit increased 47.9% Y/Y to $510.7 million, with the margin expanding 514 basis points to 25.5%.
The operating margin was 17.6%, and operating income for the quarter rose 68.4% to $352.8 million.
EBITDA of $458.4 million increased 47.9% Y/Y.
Adjusted EPS of $2.69 beat the analyst consensus of $2.34.
The company held $1.8 billion in cash and equivalents as of September 30, 2021.
"Looking ahead as we move from the third and into the fourth quarter, we will continue to implement our previously announced price increases for domestic containerboard, corrugated packaging, and paper, and we also expect average export containerboard prices to move higher," said Chairman and CEO Mark W. Kowlzan.
Outlook: Packaging Corp sees Q4 EPS of $2.04 against the consensus of $2.15.
Price Action: PKG shares closed lower by 0.05% at $133.92 on Monday.