Rock-Tenn Profit Crushes Estimates

(RTTNews) - Packaging solutions provider Rock-Tenn Co (RKT) on Wednesday reported second-quarter net earnings to equity shareholders of $109.8 million or $0.77 per share compared with $82.8 million or $0.57 per share last year.

Excluding restructuring charges and other items, adjusted earnings for the quarter were $0.85 per share compared with $0.63 per share a year ago.

Revenues for the quarter were $2.46 billion compared with $2.39 billion in the prior year, reflecting the Tacoma Mill acquisition completed in 2014 and higher corrugated volumes.

Analysts polled by Thomson Reuters estimated earnings of $0.74 per share on revenues of $2.47 billion for the quarter. Analysts' estimates typically exclude special items.

The quarter benefited from strong revenue and operating performance late in the month across all businesses, said CEO Steve Voorhees.