Jan 28 (Reuters) - Packaging Corp of America PKG.N reported fourth-quarter profit below Wall Street estimates on Tuesday, hurt by seasonally slower demand from its paper products segment.
The Lake Forest, Illinois-based company supplies paper and packaging products for industries such as food and beverages, paper products and retail trading.
While demand for packaging goods is recovering from a post-pandemic slowdown, sticky inflation and a cautious consumer sentiment have weighed on sales.
The company's net sales rose nearly 11% to $2.15 billion in the quarter. Analysts, on average, estimated $2.13 billion, according to data compiled by LSEG.
It reported a fourth-quarter adjusted profit of $2.47 per share, compared with the estimates of $2.53.
(Reporting by Utkarsh Shetti and Nathan Gomes in Bengaluru; Editing by Shilpi Majumdar and Alan Barona)
((UtkarshUmesh.Shetti@thomsonreuters.com))
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