Packaging Corporation of America (NYSE:PKG) will be reporting results tomorrow after market close. Here’s what to look for.
Packaging Corporation of America beat analysts’ revenue expectations by 0.6% last quarter, reporting revenues of $2.15 billion, up 10.7% year on year. It was a mixed quarter for the company, with a solid beat of analysts’ sales volume estimates but EPS guidance for next quarter missing analysts’ expectations.
Is Packaging Corporation of America a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Packaging Corporation of America’s revenue to grow 6.5% year on year to $2.11 billion, improving from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $2.21 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Packaging Corporation of America has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Packaging Corporation of America’s peers in the industrials segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Lindsay delivered year-on-year revenue growth of 23.5%, beating analysts’ expectations by 4%, and Worthington reported a revenue decline of 3.9%, topping estimates by 6.7%. Lindsay traded down 8% following the results while Worthington was up 24%.
Read our full analysis of Lindsay’s results here and Worthington’s results here.
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