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Packaging Corp. of America Q3 profit falls YOY


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Packaging Corp. of America Q3 profit falls YOY

Packaging Corp. of America said its normalized net income for the third quarter was $1.26 per share, compared with the S&P Capital IQ consensus estimate of $1.28 per share.

In the prior-year period, the per-share result was a profit of $1.27.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $121.6 million, a decline from $123.3 million in the prior-year period.

The normalized profit margin climbed to 8.3% from 8.1% in the year-earlier period.

Total revenue fell on an annual basis to $1.47 billion from $1.52 billion, and total operating expenses decreased from the prior-year period to $1.25 billion from $1.30 billion.

Reported net income grew 22.8% year over year to $126.5 million, or $1.31 per share, from $103.0 million, or $1.06 per share.