Packaging Corp. of America (PKG) Monday reported first-quarter net income of $60.6 million or $0.62 per share, up from $17.8 million or $0.18 per share last year.
Last year's adjusted profit was $40.8 million or $0.42 per share.
Net sales for the quarter grew 12 percent to $755.2 million from $671.3 million last year.
Analysts polled by Thomson Reuters expected earnings of $0.56 per share, and revenues of $722.6 million for the quarter. Analysts' estimates typically exclude special items.
Looking forward to the second quarter, the company currently expects second quarter earnings of about $0.62 per share. Analysts currently estimate earnings of $0.70 per share for the quarter.
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