Packaging Corporation of America Q3 Profit Increases, beats estimates

(RTTNews) - Packaging Corporation of America (PKG) released earnings for its third quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $262.5 million, or $2.80 per share. This compares with $250.7M, or $2.63 per share, in last year's third quarter.

Excluding items, Packaging Corporation of America reported adjusted earnings of $265.6M or $2.83 per share for the period.

Analysts on average had expected the company to earn $2.81 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.5% to $2.13 billion from $2.00 billion last year.

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

-Earnings (Q3): $262.5 Mln. vs. $250.7M. last year. -EPS (Q3): $2.80 vs. $2.63 last year. -Analyst Estimate: $2.81 -Revenue (Q3): $2.13 Bln vs. $2.00 Bln last year.