By Connor Hart
Packaging Corp of America said profit and revenue rose in the first quarter, boosted by higher prices and volumes, but the company warned of a recent pullback in demand that could hurt future quarters.
The cardboard-box maker on Tuesday posted a profit of $203.8 million, or $2.26 a share, up from $146.9 million, or $1.63 a share, in the same quarter last year.
Adjusted per-share earnings--which stripped out costs primarily tied to facility closures--came in at $2.31. Analysts surveyed by FactSet expected adjusted per-share earnings of $2.21.
Revenue increased 8.2% to $2.14 billion, topping the $2.11 billion estimate that analysts modeled.
In the company's packaging unit, total shipments and shipments per day rose 2.5%. In its paper unit, sales volumes were down 7% from last year.
Chief Executive Mark Kowlzan said box demand was solid in the recent quarter, though he noted the company began to see some pullback in the middle of the quarter related to uncertainty stemming from global trade tensions.
Looking forward, Kowlzan anticipates "continued ambiguity relative to domestic and foreign tariff actions and their effect on global trade and our demand trends." As a result, the company is tempering its guidance to account for potential negative impacts to volumes and costs.
Packaging Corp guided for second-quarter earnings of $2.41 a share, missing the $2.63 that analysts polled by FactSet forecast.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
April 22, 2025 16:45 ET (20:45 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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