Packaging Corporation of America Q2 Profit Increases, beats estimates

(RTTNews) - Packaging Corporation of America (PKG) revealed a profit for its second quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $301.5 million, or $3.20 per share. This compares with $207.3 million, or $2.17 per share, in last year's second quarter.

Excluding items, Packaging Corporation of America reported adjusted earnings of $303.7 million or $3.23 per share for the period.

Analysts on average had expected the company to earn $2.85 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 19.1% to $2.24 billion from $1.88 billion last year.

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

-Earnings (Q2): $301.5 Mln. vs. $207.3 Mln. last year. -EPS (Q2): $3.20 vs. $2.17 last year. -Analyst Estimate: $2.85 -Revenue (Q2): $2.24 Bln vs. $1.88 Bln last year.