Packaging Corporation of America Q1 Profit Decreases, but beats estimates

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

The company's bottom line came in at $146.9 million, or $1.63 per share. This compares with $190.1 million, or $2.11 per share, in last year's first quarter.

Excluding items, Packaging Corporation of America reported adjusted earnings of $154.6 million or $1.72 per share for the period.

Analysts on average had expected the company to earn $1.68 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Revenue came in at $1.98 billion, equal to the mark posted in the same period last year.

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

-Earnings (Q1): $146.9 Mln. vs. $190.1 Mln. last year. -EPS (Q1): $1.63 vs. $2.11 last year. -Revenue (Q1): $1.98 Bln vs. $1.98 Bln last year.