Packaging Corporation Of America Expects Q2 EPS Of $2.07, Est $2.22
Portfolio Pulse from Benzinga Newsdesk
Packaging Corporation Of America (PKG) anticipates Q2 EPS of $2.07, below the estimated $2.22. The company cites strong orders in its Paper segment but expects lower volume due to maintenance at its International Falls, MN mill. Despite implementing price increases, average prices and mix may be slightly lower due to earlier index price decreases affecting contract triggers with some customers.
April 22, 2024 | 8:20 pm
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Packaging Corporation Of America expects a lower Q2 EPS of $2.07 compared to the estimated $2.22, due to maintenance at its mill and lower average prices.
The expected lower EPS is a direct result of operational downtime for maintenance and the impact of previously decreased index prices on contracts. This news is likely to negatively affect investor sentiment in the short term, as the forecasted earnings fall below analyst expectations.
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