(Reuters) – Packaging Corp of America reported fourth-quarter earnings listed beneath Wall Street approximates on Tuesday, injured by seasonally slower want from its paper objects part.
The Lake Forest, Illinois- primarily based agency supplies paper and product packaging objects for markets resembling meals and drinks, paper objects and retail buying and selling.
While want for product packaging merchandise is recouping from a post-pandemic downturn, sticky rising price of dwelling and a cautious buyer perception have truly thought-about on gross sales.
The agency’s net gross sales elevated just about 11% to $2.15 billion within the quarter. Analysts, usually, approximated $2.13 billion, in accordance with data put collectively by LSEG.
It reported a fourth-quarter modified earnings of $2.47 per share, in comparison with the value quotes of $2.53.
(Reporting by Utkarsh Shetti and Nathan Gomes in Bengaluru; Editing by Shilpi Majumdar and Alan Barona)
