Packaging Corp.: 4Q Earnings Snapshot

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LAKE FOREST, Ill. (AP) _ Packaging Corp. of America (PKG) on Wednesday reported fourth-quarter earnings of $123.5 million.

The Lake Forest, Illinois-based company said it had profit of $1.30 per share. Earnings, adjusted for non-recurring costs, came to $1.33 per share.

The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.42 per share.

The maker of containerboard and corrugated packaging products posted revenue of $1.71 billion in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $1.73 billion.

For the year, the company reported profit of $461 million, or $4.84 per share. Revenue was reported as $6.66 billion.

Packaging Corp. shares have dropped 1.5% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $135.87, an increase of 31% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PKG at https://www.zacks.com/ap/PKG