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Packaging Corp.: 3Q Earnings Snapshot

·1 min read

LAKE FOREST, Ill. (AP) _ Packaging Corp. of America (PKG) on Monday reported third-quarter net income of $139.1 million.

On a per-share basis, the Lake Forest, Illinois-based company said it had profit of $1.46. Earnings, adjusted for non-recurring costs, came to $1.57 per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.36 per share.

The maker of containerboard and corrugated packaging products posted revenue of $1.69 billion in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $1.66 billion.

Packaging Corp. shares have risen slightly more than 3% since the beginning of the year. In the final minutes of trading on Monday, shares hit $115.78, an increase of roughly 7% 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 PKG at https://www.zacks.com/ap/PKG