U.S. Markets open in 5 hrs 18 mins

Packaging Corp.: 2Q Earnings Snapshot

LAKE FOREST, Ill. (AP) _ Packaging Corp. of America (PKG) on Wednesday reported second-quarter profit of $193.6 million.

On a per-share basis, the Lake Forest, Illinois-based company said it had net income of $2.04.

The results met Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was also for earnings of $2.04 per share.

The maker of containerboard and corrugated packaging products posted revenue of $1.76 billion in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $1.8 billion.

Packaging Corp. shares have climbed 23% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $102.25, a fall of 12% in the last 12 months.

_____

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