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KapStone misses Street 1Q forecasts

NORTHBROOK, Ill. (AP) _ KapStone Paper and Packaging Corp. (KS) on Wednesday reported first-quarter profit of $6 million.

On a per-share basis, the Northbrook, Illinois-based company said it had profit of 6 cents. Earnings, adjusted for non-recurring costs, came to 15 cents per share.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.

The maker of paper container and packaging products posted revenue of $765.8 million in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $770.1 million.

KapStone shares have increased roughly 9 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $23.99, a rise of 62 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KS at https://www.zacks.com/ap/KS

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Keywords: KapStone Paper, Earnings Report