LAKE FOREST, Ill. (AP) _ Packaging Corp. of America (PKG) on Monday reported first-quarter earnings of $141.7 million.

The Lake Forest, Illinois-based company said it had net income of $1.49 per share. Earnings, adjusted for non-recurring costs, came to $1.50 per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.20 per share.

The maker of containerboard and corrugated packaging products posted revenue of $1.71 billion in the period.

Packaging Corp. shares have declined 20% since the beginning of the year. In the final minutes of trading on Monday, shares hit $89.93, a drop of 8% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PKG at https://www.zacks.com/ap/PKG

Automated Insights, source Associated Press News