Packaging Corporation of America Q2 Profit Decreases, but beats estimates

(RTTNews) - Packaging Corporation of America (PKG) announced earnings for second quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $202.7 million, or $2.24 per share. This compares with $301.5 million, or $3.20 per share, in last year's second quarter.

Excluding items, Packaging Corporation of America reported adjusted earnings of $208.9 million or $2.31 per share for the period.

Analysts on average had expected the company to earn $1.93 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 12.9% to $1.95 billion from $2.24 billion last year.

Packaging Corporation of America earnings at a glance (GAAP) :

-Earnings (Q2): $202.7 Mln. vs. $301.5 Mln. last year. -EPS (Q2): $2.24 vs. $3.20 last year. -Analyst Estimates: $1.93 -Revenue (Q2): $1.95 Bln vs. $2.24 Bln last year.

-Guidance: Next quarter EPS guidance: $1.88