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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NEGATIVE IMPACT
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