Packaging Corp. reports Q3 EPS $2.65, consensus $2.50

Reports Q3 revenue $2.18B, consensus $2.09B. The company states: “Results were $.20 above third quarter guidance of $2.45 per share primarily due to higher volume in the Packaging and Paper segments and higher prices and mix in the Packaging segment.” CEO Mark W. Kowlzan says: “In the Packaging segment, we had great implementation of our previously announced containerboard and corrugated products price increases. Very strong demand throughout the quarter led to all-time quarterly records for containerboard production, total box shipments and shipments per day. We were able to meet this demand, and our customers’ quality and service needs, through the operational benefits of our capital spending program and the continued great focus and execution by our sales, customer service, mill and corrugated products plant employees. Our Paper segment had excellent results with our previously announced price increases implemented as planned, volume above forecasted levels, and well-managed mill operations. Fortunately, none of our facilities were significantly impacted by the two hurricanes during the quarter.”