LAKE FOREST, Ill. (AP) _ Packaging Corp. of America (PKG) on Tuesday reported second-quarter profit of $56.7 million.
On a per-share basis, the Lake Forest, Illinois-based company said it had profit of 59 cents. Earnings, adjusted for asset impairment costs and non-recurring costs, came to $1.38 per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.28 per share.
The maker of containerboard and corrugated packaging products posted revenue of $1.54 billion in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $1.67 billion.
Packaging Corp. shares have fallen nearly 9% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $101.99, decreasing slightly in the last 12 months.
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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
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