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Packaging Corp. of America Q2 profit falls YOY

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Packaging Corp. of America Q2 profit falls YOY

Packaging Corp. of America said its second-quarter normalized net income came to $1.17 per share, compared with the S&P Capital IQ consensus estimate of $1.03 per share.

EPS fell year over year from $1.19.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $113.6 million, a decrease from $115.1 million in the year-earlier period.

The normalized profit margin dropped to 7.8% from 7.8% in the year-earlier period.

Total revenue totaled $1.45 billion, compared with $1.47 billion in the prior-year period, and total operating expenses decreased on an annual basis to $1.25 billion from $1.26 billion.

Reported net income grew 14.9% from the prior-year period to $112.4 million, or $1.16 per share, from $97.9 million, or $1.01 per share.