Packaging Corporation of America Q3 Profit Decreases, but beats estimates

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

The company's bottom line came in at $183.2 million, or $2.03 per share. This compares with $262.5 million, or $2.80 per share, in last year's third quarter.

Excluding items, Packaging Corporation of America reported adjusted earnings of $185.1 million or $2.05 per share for the period.

Analysts on average had expected the company to earn $1.93 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 8.9% to $1.94 billion from $2.13 billion last year.

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

-Earnings (Q3): $183.2 Mln. vs. $262.5 Mln. last year. -EPS (Q3): $2.03 vs. $2.80 last year. -Analyst Estimates: $1.93 -Revenue (Q3): $1.94 Bln vs. $2.13 Bln last year.