Packaging Corp (PKG) +1.9% AH Q3 revenue grew 17% Y/Y to $845M.
EPS expanded 65% Y/Y to $0.91 on the back of higher containerboard and corrugated products prices and mix (accounting for an $0.44/share effect) and increased volume ($0.05), while higher fiber, labor, incentive, transportation, and chemicals costs exerted drag ($0.13 cumulatively).
The company guided for Q4 EPS of $0.84 (in-line). CEO Mark Kowlzan: "[W]e expect seasonally lower corrugated products volume than the third quarter resulting, in part, from two less corrugated products shipping days. We also expect lower mill production and higher operating costs related to the annual maintenance outage at our Filer City, Michigan mill."
Conference call at 8 am ET tomorrow, PR