Packaging Corp. sees Q2 EPS $1.96, consensus $2.55
The Fly

Packaging Corp. sees Q2 EPS $1.96, consensus $2.55

"Looking ahead as we move from the first and into the second quarter," CEO Kowlzan added, "although there is one less shipping day for the corrugated business, we expect improved volume in our Packaging segment. However, prices will be lower as a result of the previously published domestic containerboard price decreases along with lower export prices. Sales volume as well as prices and mix in the Paper segment are assumed to be slightly lower based on lower demand. Although we do look for most operating costs to trend lower, our converting costs, scheduled maintenance outage expense and depreciation expense will be higher. Primarily due to recent increases in contract rail rates at most of our mills, we expect higher freight and logistics expenses compared to the first quarter. Considering these items, we expect second quarter earnings of $1.96 per share."

Published first on TheFly

See Insiders’ Hot Stocks on TipRanks >>

Read More on PKG:

Related Articles
TheFlyCascades price hikes positive for Packaging Corp., says Wells Fargo
TheFlyTruist says Cascades news positive for Packaging Corp., International Paper
TheFlyPackaging Corp. management to meet with Truist
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App