Packaging Corp Of America Q4 Earnings Beat Estimates; Sees Q1 EPS Above Consensus

  • Packaging Corp Of America PKG reported fourth-quarter FY21 sales growth of 19% year-on-year, to $2.04 billion, beating the analyst consensus of $1.94 billion.
  • Sales from the Packaging segment rose 22% Y/Y, and the Paper segment declined 8.6%.
  • Gross profit increased 52.9% Y/Y to $509.9 million, with the margin expanding 550 basis points to 24.9%.
  • The operating margin was 17.4%, and operating income for the quarter rose 87.9% to $355.7 million.
  • EBITDA excluding special items of $462.8 million increased 58.1% Y/Y.
  • Adjusted EPS of $2.76 beat the analyst consensus of $2.07.
  • The company held $764.7 million in cash and equivalents as of December 31, 2021.
  • During the quarter, the company repurchased over 1.4 million shares. The company's board of directors recently approved a new $1 billion repurchase authorization.
  • Outlook: Packaging Corp Of America expects the first-quarter EPS of $2.50, above the consensus of $2.13.
  • Price Action: PKG shares closed lower by 1.21% at $133.40 on Wednesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceBuybacksBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!