Packaging Corp of America Q3 Adj EPS $2.05 Beats $1.93 Estimate, Sales $1.94B Miss $1.99B Estimate
Portfolio Pulse from Benzinga Newsdesk
Packaging Corp of America (NYSE:PKG) reported Q3 adjusted earnings of $2.05 per share, beating the analyst consensus estimate of $1.93 by 6.22%. However, this is a 27.56% decrease from the same period last year. The company's quarterly sales were $1.94 billion, missing the analyst consensus estimate of $1.99 billion by 2.71%, and marking an 8.94% decrease from the same period last year.
October 23, 2023 | 8:46 pm
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Packaging Corp's Q3 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