Packaging Corporation of America (PKG) has reported a rise in its fourth-quarter profit compared to the same period last year, although the results fell short of Wall Street's expectations.
The company posted earnings of $221.1 million, or $2.45 per share, up from $189.2 million, or $2.10 per share, in the previous year. When excluding special items, the adjusted earnings amounted to $222.4 million, or $2.47 per share for the quarter.
Market analysts, however, had anticipated slightly higher earnings of $2.53 per share, based on estimates that typically exclude exceptional items.
On the revenue front, the company experienced a 10.8% increase, bringing in $2.146 billion, compared to $1.937 billion in the prior year.
In summary, Packaging Corporation of America's fourth-quarter results are as follows (GAAP criteria):
- Earnings: $221.1 million compared to $189.2 million the previous year.
- Earnings per Share (EPS): $2.45 versus $2.10 last year.
- Revenue: $2.146 billion compared to $1.937 billion last year.
