WASHINGTON (dpa-AFX) - Packaging Corporation of America (PKG) announced a profit for second quarter that declined from the same period last year.
The company's profit came in at $56.7 million, or $0.59 per share. This compares with $193.6 million, or $2.04 per share, in last year's second quarter.
Excluding items, Packaging Corporation of America reported adjusted earnings of $131.8 million or $1.38 per share for the period.
Analysts had expected the company to earn $1.28 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 12.5% to $1.54 billion from $1.76 billion last year.
Packaging Corporation of America earnings at a glance:
-Analysts Estimate: $1.28 -Revenue (Q2): $1.54 Bln vs. $1.76 Bln last year.
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