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Packaging Corp. of America Q2 profit climbs 15.2% YOY

Packaging Corp. of America said its second-quarter normalized net income was $1.40 per share, compared with the S&P Capital IQ consensus estimate of $1.47 per share.

EPS increased 14.8% year over year from $1.22.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $130.6 million, a gain of 15.2% from $113.4 million in the year-earlier period.

The normalized profit margin rose to 8.2% from 8.0% in the year-earlier period.

Total revenue climbed 11.8% year over year to $1.58 billion from $1.42 billion, and total operating expenses increased 11.2% on an annual basis to $1.35 billion from $1.21 billion.

Reported net income increased 24.0% year over year to $142.3 million, or $1.52 per share, from $114.8 million, or $1.23 per share.