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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NEGATIVE IMPACT
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