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Packaging Corp. of America Q1 profit climbs 12.9% YOY

Packaging Corp. of America said its normalized net income for the first quarter came to $1.23 per share, compared with the S&P Capital IQ consensus estimate of $1.22 per share.

EPS rose 13.6% year over year from $1.09.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $115.6 million, an increase of 12.9% from $102.4 million in the prior-year period.

The normalized profit margin rose to 7.5% from 7.3% in the year-earlier period.

Total revenue grew 9.7% on an annual basis to $1.54 billion from $1.40 billion, and total operating expenses rose 9.2% year over year to $1.33 billion from $1.22 billion.

Reported net income increased 13.0% year over year to $116.1 million, or $1.24 per share, from $102.7 million, or $1.09 per share.