- Packaging Corp of America (NYSE:PKG) trades slightly higher in early action after beating on both lines of its Q2 report.
- Segment income increased 21% Y/Y to $283.4M during Q2. EBITDA came in at $382.3M vs. $328.3M a year ago.
- CEO update: "Packaging segment demand remained strong with all-time record sales volumes in both our containerboard mills and corrugated products plants. Our price increases in the Packaging segment were realized sooner than last year’s second quarter due to the index changing a month earlier this year as well as an accelerated implementation. Additionally, our price increases in the Paper segment were also realized more quickly than anticipated. The benefits of these strong market conditions helped us offset higher inflation in many of our operating and converting costs and higher freight expenses."
- PKG +0.52% premarket to $116.95.
- Previously: Packaging beats by $0.11, beats on revenue (July 25)