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Last $70.04 USD
Change Today -0.75 / -1.06%
Volume 540.6K
PKG On Other Exchanges
Symbol
Exchange
New York
Munich
As of 8:04 PM 08/3/15 All times are local (Market data is delayed by at least 15 minutes).

packaging corp of america (PKG) Key Developments

Packaging Corporation of America Announces Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended June 30, 2015; Reports Production Results for the Second Quarter Ended June 30, 2015; Provides Earnings Guidance for the Third Quarter of 2015 and Capex Guidance for 2016

Packaging Corporation of America announced unaudited consolidated financial results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net sales of USD 1,454.3 million against USD 1,468.4 million a year ago. Income from operations was USD 197.6 million against USD 180.2 million a year ago. Income before taxes was USD 175.4 million against USD 158.8 million a year ago. Net income was USD 114.0 million or USD 1.16 per diluted share against USD 99.6 million or USD 1.01 per diluted share a year ago. EBITDA was USD 284.4 million against USD 281.8 million a year ago. Net income excluding special items was USD 115.6 million or USD 1.18 per diluted share against USD 113.8 million or USD 1.16 per diluted share a year ago. Income from operations, excluding special items was USD 200.3 million against USD 202.9 million a year ago. EBITDA excluding special items was USD 287.1 million against USD 287.3 million a year ago. These earnings improvements were partially offset by lower white paper prices and mix changes, which reduced earnings by USD 0.10 per share; higher labor and benefit costs of USD 0.05 per share; lower export containerboard prices of USD 0.02 per share; higher annual outage cost, USD 0.03 per share; and higher wood costs of USD 0.02 per share. Cash provided by operations in the second quarter was USD 196 million after deducting USD 78 million in cash tax payments for federal and state income taxes. For the six months, the company reported net sales of USD 2,880.0 million against USD 2,899.7 million a year ago. Income from operations was USD 354.7 million against USD 341.2 million a year ago. Income before taxes was USD 313.3 million against USD 299.0 million a year ago. Net income was USD 204.8 million or USD 2.08 per diluted share against USD 189.6 million or USD 1.93 per diluted share a year ago. EBITDA was USD 534.9 million against USD 526.2 million a year ago. Net income excluding special items was USD 215.2 million or USD 2.19 per diluted share against USD 220.3 million or USD 2.24 per diluted share a year ago. Income from operations, excluding special items was USD 371.2 million against USD 389.6 million a year ago. EBITDA excluding special items was USD 542.4 million against USD 557.4 million a year ago. For the quarter, the company reported containerboard production of 937,000 tons which was an increase of 91,000 tons over last year’s second quarter including 79,000 tons from the D3 machine at DeRidder. For the third quarter of 2015, the company expects earnings of USD 1.28 per share. The third quarter tax rate is expected to be about the same as the second quarter of 2015. For 2016, the company expects capex would be in the same range, the USD 275 million to USD 300 million.

Packaging Corporation of America to Report Q2, 2015 Results on Jul 21, 2015

Packaging Corporation of America announced that they will report Q2, 2015 results at 5:00 PM, Eastern Standard Time on Jul 21, 2015

Packaging Corporation of America, Q2 2015 Earnings Call, Jul 22, 2015

Packaging Corporation of America, Q2 2015 Earnings Call, Jul 22, 2015

Packaging Corporation of America Announces Executive Changes, Effective from September 1, 2015

Packaging Corporation of America announced the appointment of Robert P. (Bob) Mundy as Senior Vice President and Chief Financial Officer effective from September 1, 2015. Mr. Mundy will begin his employment with PCA on July 1, 2015. He has served as Verso Corporation’s Senior Vice President and Chief Financial Officer since 2006. Before that, he worked for more than 20 years with International Paper company in various positions of increasing responsibility. Richard B. (Rick) West, PCA’s CFO since 1999, will remain an employee of PCA in an advisory capacity through his planned retirement date of March 1, 2016.

Packaging Corporation of America Declares Quarterly Dividend, Payable on July 15, 2015

Packaging Corporation of America announced that its Board has approved a regular quarterly dividend of $0.55 per share on its common stock. The quarterly dividend of $0.55 per share will be paid to shareholders of record as of June 15, 2015 with a payment date of July 15, 2015.

 

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PKG

Industry Average

Valuation PKG Industry Range
Price/Earnings 17.1x
Price/Sales 1.2x
Price/Book 4.4x
Price/Cash Flow 17.0x
TEV/Sales 0.8x
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