U.S. Markets closed

Packaging Corp.: 4Q Earnings Snapshot

LAKE FOREST, Ill. (AP) _ Packaging Corp. of America (PKG) on Tuesday reported fourth-quarter profit of $204.6 million.

The Lake Forest, Illinois-based company said it had profit of $2.16 per share. Earnings, adjusted for non-recurring costs, came to $2.17 per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.15 per share.

The maker of containerboard and corrugated packaging products posted revenue of $1.75 billion in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $1.77 billion.

For the year, the company reported profit of $738 million, or $7.80 per share. Revenue was reported as $7.01 billion.

Packaging Corp. shares have climbed 13 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $93.93, a decrease of 25 percent 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