MeadWestvaco profit beats Wall Street

NEW YORK (Reuters) - MeadWestvaco Co (MWV.N) reported on Wednesday second-quarter profit above Wall Street estimates, helped by strong results at its packaging resources and specialty chemicals segments.

For the second quarter, the packaging producer reported net income of $50 million, or 29 cents per share, compared with a profit of $125 million, or 72 cents per share, a year before.

Excluding restructuring charges, the company earned 35 cents a share. On that basis, analysts were expecting a profit of 33 cents a share, according to Thomson Reuters I/B/E/S.

Sales rose 8 percent to $1.55 billion, but fell short of estimates of $1.57 billion.

Shares of the Glen Allen, Virginia-based company closed at $24.76 Tuesday on the New York Stock Exchange.

(Reporting by Adveith Nair, editing by Gerald E. McCormick)