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Packaging Corp. of America Q1 profit falls YOY

Packaging Corp. of America said its first-quarter normalized net income came to 98 cents per share, compared with the S&P Capital IQ consensus estimate of $1.08 per share.

EPS declined 9.4% year over year from $1.08.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $95.1 million, a decline of 9.0% from $104.4 million in the prior-year period.

The normalized profit margin fell to 6.7% from 7.3% in the year-earlier period.

Total revenue totaled $1.43 billion, compared with $1.43 billion in the year-earlier period, and total operating expenses totaled $1.25 billion, compared with $1.24 billion in the prior-year period.

Reported net income came to $89.4 million, or 92 cents per share, compared with $89.1 million, or 92 cents per share, in the prior-year period.