Packaging Corp beats first-quarter results on higher pricing [Yahoo! Finance]
Packaging Corporation of America (PKG)
Last packaging corporation of america earnings: 4/27 05:00 pm
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packagingcorp.com
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Source: Yahoo! Finance
Paper and packaging companies benefited from a surge in sales of goods and e-commerce retail during the pandemic, but their fortunes faded with economies reopening, leading to a year-long slowdown in demand. However, sales volumes are starting to grow again this year as production and shipments improve, with European paper packaging giant Smurfit Kappa in February saying the worst of the demand slump appeared to be over. Packaging Corp of America, which supplies packaging for a variety of industries including food and beverages, retail trade and chemical products, said its packaging segment saw shipments per day rise 11%, with corrugated products shipments seeing a 9.2% jump. Lake Forest, Illinois-based Packaging Corp is also benefiting from a round of price increases it rolled out in January. The company said that it began implementing a price increase of $100 per ton across all paper grades effective April 1. For the second quarter, the company expects earnings of $2.07 per
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PKG
News
- Packaging firm Amcor boosts annual profit forecast on higher prices, easing costs [Yahoo! Finance]Yahoo! Finance
- Packaging Co. of America (NYSE: PKG) had its price target lowered by analysts at Citigroup Inc. from $183.00 to $181.00. They now have a "neutral" rating on the stock.MarketBeat
- Packaging Corporation of America (NYSE:PKG) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Packaging Co. of America (NYSE: PKG) was upgraded by analysts at Wells Fargo & Company from an "equal weight" rating to an "overweight" rating. They now have a $191.00 price target on the stock, up previously from $187.00.MarketBeat
- Analyst Estimates: Here's What Brokers Think Of Packaging Corporation of America (NYSE:PKG) After Its First-Quarter Report [Yahoo! Finance]Yahoo! Finance
PKG
Earnings
- 4/22/24 - Miss
PKG
Sec Filings
- 4/23/24 - Form 8-K
- 4/3/24 - Form DEFA14A
- 3/28/24 - Form ARS
- PKG's page on the SEC website