Packaging Corp 1st-qtr beats on higher corrugated products volumes
April 17 (Reuters) - Packaging Corp of America's quarterly results beat analysts' expectations on higher volumes of its corrugated products.
First-quarter net income fell to $18 million, or 18 cents per share, from $37.4 million, or 37 cents per share, last year.
Excluding items, the company earned 42 cents.
Revenue rose 7 percent to $671 million.
Corrugated products shipments were up 8.3 percent for the quarter.
Analysts expected earnings of 40 cents on revenue of $659.65 million, according to Thomson Reuters I/B/E/S.
Shares of the Lake Forest, Illinois-based company closed at $29.21 on Tuesday on the New York Stock Exchange.