WASHINGTON (dpa-AFX) - Packaging Corporation of America (PKG) announced earnings for fourth quarter that decreased from last year but beat the Street estimates.
The company's bottom line totaled $189.2 million, or $2.10 per share. This compares with $211.7 million, or $2.31 per share, in last year's fourth quarter.
Excluding items, Packaging Corporation of America reported adjusted earnings of $192.1 million or $2.13 per share for the period.
Analysts on average had expected the company to earn $1.83 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 2.0% to $1.94 billion from $1.98 billion last year.
Packaging Corporation of America earnings at a glance (GAAP) :
-Earnings (Q4): $189.2 Mln. vs. $211.7 Mln. last year. -EPS (Q4): $2.10 vs. $2.31 last year. -Analyst Estimates: $1.83 -Revenue (Q4): $1.94 Bln vs. $1.98 Bln last year.
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