By Connor Hart
Packaging Corp of America posted higher profit and revenue in the fourth quarter, though facility closures dampened adjusted earnings.
The cardboard-box maker on Tuesday reported a profit of $221.1 million, or $2.45 a share, compared with $189.2 million, or $2.10 share, in the same quarter last year.
Stripping out costs from the closure of corrugated products facilities, adjusted earnings came in at $2.47, missing the $2.53 analysts surveyed by FactSet were expecting.
Revenue increased 11% to $2.15 billion, just ahead of the $2.13 billion that analysts had forecast.
In the company's packaging unit, total shipments and shipments per day each rose 9.1%. Sales volume rose 5% year-over-year across its paper unit.
Chief Executive Mark Kowlzan said the first quarter will be seasonally slower, though demand for packaging products is expected to remain strong. He forecast slightly lower volume across the company's paper segment, which is expected to be hurt by higher costs.
The company guided for first-quarter earnings of $2.21 a share, missing the $2.28 that analysts expected.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
January 28, 2025 17:11 ET (22:11 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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