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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.