Packaging Corp of America PKG is set to give its latest quarterly earnings report on Monday, 2023-07-24. Here's what investors need to know before the announcement.
Analysts estimate that Packaging Corp of America will report an earnings per share (EPS) of $1.93.
Packaging Corp of America bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Historical Earnings Performance
Last quarter the company missed EPS by $0.07, which was followed by a 7.27% drop in the share price the next day.
Here's a look at Packaging Corp of America's past performance and the resulting price change:
| Quarter | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|
| EPS Estimate | 2.27 | 2.23 | 2.82 | 2.85 |
| EPS Actual | 2.20 | 2.35 | 2.83 | 3.23 |
| Price Change % | -7.27% | 7.33% | -0.3% | -5.04% |
Stock Performance
Shares of Packaging Corp of America were trading at $135.98 as of July 20. Over the last 52-week period, shares are down 5.05%. Given that these returns are generally negative, long-term shareholders are likely upset going into this earnings release.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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