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Packaging Corp. (PKG) Reports Q2 Earnings: What Key Metrics Have to Say
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For the quarter ended June 2023, Packaging Corp. (PKG - Free Report) reported revenue of $1.95 billion, down 12.8% over the same period last year. EPS came in at $2.31, compared to $3.23 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.98 billion, representing a surprise of -1.43%. The company delivered an EPS surprise of +18.46%, with the consensus EPS estimate being $1.95.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Packaging Corp. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Segment Sales- Packaging: $1.79 billion versus the three-analyst average estimate of $1.80 billion. The reported number represents a year-over-year change of -13.4%.
Segment sales- Corporate: $19 million versus $31.93 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -7.8% change.
Segment Sale- Paper: $142.80 million versus the three-analyst average estimate of $146.94 million. The reported number represents a year-over-year change of -4.7%.
Segment Operating income- Packaging- Non-GAAP: $289.70 million versus $252.30 million estimated by three analysts on average.
Segment Operating income- Corporate and Other- Non-GAAP: -$30.50 million versus the three-analyst average estimate of -$26.06 million.
Segment Operating income- Paper- Non-GAAP: $33.50 million compared to the $29.18 million average estimate based on three analysts.
Shares of Packaging Corp. have returned +6.6% over the past month versus the Zacks S&P 500 composite's +4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Packaging Corp. (PKG) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended June 2023, Packaging Corp. (PKG - Free Report) reported revenue of $1.95 billion, down 12.8% over the same period last year. EPS came in at $2.31, compared to $3.23 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.98 billion, representing a surprise of -1.43%. The company delivered an EPS surprise of +18.46%, with the consensus EPS estimate being $1.95.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Packaging Corp. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Segment Sales- Packaging: $1.79 billion versus the three-analyst average estimate of $1.80 billion. The reported number represents a year-over-year change of -13.4%.
- Segment sales- Corporate: $19 million versus $31.93 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -7.8% change.
- Segment Sale- Paper: $142.80 million versus the three-analyst average estimate of $146.94 million. The reported number represents a year-over-year change of -4.7%.
- Segment Operating income- Packaging- Non-GAAP: $289.70 million versus $252.30 million estimated by three analysts on average.
- Segment Operating income- Corporate and Other- Non-GAAP: -$30.50 million versus the three-analyst average estimate of -$26.06 million.
- Segment Operating income- Paper- Non-GAAP: $33.50 million compared to the $29.18 million average estimate based on three analysts.
View all Key Company Metrics for Packaging Corp. here>>>Shares of Packaging Corp. have returned +6.6% over the past month versus the Zacks S&P 500 composite's +4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.