Packaging Corp.: Q3 Earnings Snapshot

LAKE FOREST, Ill. (AP) — LAKE FOREST, Ill. (AP) — Packaging Corp. of America (PKG) on Wednesday reported third-quarter profit of $262.3 million.

The Lake Forest, Illinois-based company said it had net income of $2.93 per share. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, came to $3.04 per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.95 per share.

The maker of containerboard and corrugated packaging products posted revenue of $2.6 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $2.56 billion.

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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