Packaging Corporation of America Q1 Profit Increases, beats estimates

(RTTNews) - Packaging Corporation of America (PKG) announced a profit for its first quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $254.2 million, or $2.70 per share. This compares with $166.5 million, or $1.75 per share, in last year's first quarter.

Excluding items, Packaging Corporation of America reported adjusted earnings of $255.7 million or $2.72 per share for the period.

Analysts on average had expected the company to earn $2.51 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 18.2% to $2.14 billion from $1.81 billion last year.

Packaging Corporation of America earnings at a glance (GAAP) :

-Earnings (Q1): $254.2 Mln. vs. $166.5 Mln. last year. -EPS (Q1): $2.70 vs. $1.75 last year. -Analyst Estimate: $2.51 -Revenue (Q1): $2.14 Bln vs. $1.81 Bln last year.

-Guidance: Next quarter EPS guidance: $2.83