Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Shivani Kumaresan

Packaging Corp Of America Q4 Earnings Beat Estimates; Sees Q1 EPS Above Consensus

  • Packaging Corp Of America (NYSE:PKGreported fourth-quarter FY21 sales growth of 19% year-on-year, to $2.04 billion, beating the analyst consensus of $1.94 billion.
  • Sales from the Packaging segment rose 22% Y/Y, and the Paper segment declined 8.6%.
  • Gross profit increased 52.9% Y/Y to $509.9 million, with the margin expanding 550 basis points to 24.9%.
  • The operating margin was 17.4%, and operating income for the quarter rose 87.9% to $355.7 million.
  • EBITDA excluding special items of $462.8 million increased 58.1% Y/Y.
  • Adjusted EPS of $2.76 beat the analyst consensus of $2.07.
  • The company held $764.7 million in cash and equivalents as of December 31, 2021.
  • During the quarter, the company repurchased over 1.4 million shares. The company's board of directors recently approved a new $1 billion repurchase authorization.
  • Outlook: Packaging Corp Of America expects the first-quarter EPS of $2.50, above the consensus of $2.13.
  • Price Action: PKG shares closed lower by 1.21% at $133.40 on Wednesday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.