Packaging Corp. (PKG) Tops Q2 EPS by 15c, Offers Q3 Guidance

Packaging Corp. (NYSE: PKG) reported Q2 EPS of $1.18, $0.15 better than the analyst estimate of $1.03. Revenue for the quarter came in at $1.45 billion versus the consensus estimate of $1.5 billion.

Packaging Corp. sees Q3 2015 EPS of $1.28, versus the consensus of $1.23.

“Looking ahead to the third quarter,” Mr. Kowlzan added, “we expect higher containerboard, corrugated products and white paper shipments, lower mill annual outage costs, and lower chemical costs. White paper prices are expected to be lower with announced price changes in industry trade publications. Finally, we plan to take our D3 paper machine at DeRidder down in September for 13 days to install additional dryers which will provide the capability to achieve design capacity and lower our costs. Considering these items, we expect third quarter earnings of $1.28 per share.”

For earnings history and earnings-related data on Packaging Corp. (PKG) click here.

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