Packaging Corporation Of America Q2 Profit Decreases, But Beats Estimates

(RTTNews) - Packaging Corporation of America (PKG) announced earnings for second quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $198.9 million, or $2.21 per share. This compares with $202.7 million, or $2.24 per share, in last year's second quarter.

Excluding items, Packaging Corporation of America reported adjusted earnings of $198.6 million or $2.20 per share for the period.

Analysts on average had expected the company to earn $2.14 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.7% to $2.08 billion from $1.95 billion last year.

Packaging Corporation of America earnings at a glance (GAAP) :

-Earnings (Q2): $198.9 Mln. vs. $202.7 Mln. last year. -EPS (Q2): $2.21 vs. $2.24 last year. -Revenue (Q2): $2.08 Bln vs. $1.95 Bln last year.