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