LAKE FOREST, Ill. (AP) _ Packaging Corp. of America (PKG) on Wednesday reported fourth-quarter profit of $136.2 million.
The Lake Forest, Illinois-based company said it had profit of $1.43 per share. Earnings, adjusted for non-recurring costs, came to $1.71 per share.
The results matched Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of $1.71 per share.
The maker of containerboard and corrugated packaging products posted revenue of $1.72 billion in the period, topping Street forecasts. Three analysts surveyed by Zacks expected $1.7 billion.
For the year, the company reported profit of $696.4 million, or $7.34 per share. Revenue was reported as $6.96 billion.
Packaging Corp. shares have decreased 6% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $105.04, a rise of 12% in the last 12 months.