Packaging Corp of America Q2 Adj EPS $2.31 Beats $1.93 Estimate, Sales $1.95B Miss $1.99B Estimate
Portfolio Pulse from Benzinga Newsdesk
Packaging Corp of America (NYSE:PKG) reported Q2 adjusted earnings of $2.31 per share, beating the analyst consensus estimate of $1.93 by 19.69%. However, this is a 28.48% decrease from the same period last year. The company's quarterly sales of $1.95 billion missed the analyst consensus estimate of $1.99 billion by 1.91%, marking a 12.74% decrease from the same period last year.
July 24, 2023 | 9:17 pm
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Packaging Corp's Q2 earnings beat estimates but are down YoY. Sales also missed estimates and are down YoY.
Despite beating earnings estimates, Packaging Corp's earnings and sales are down year-over-year. This could negatively impact investor sentiment and potentially lead to a decrease in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100