(Reuters) – Packaging Corp of America reported fourth-quarter earnings listed below Wall Street approximates on Tuesday, injured by seasonally slower need from its paper items section.
The Lake Forest, Illinois- based firm materials paper and product packaging items for markets such as food and drinks, paper items and retail trading.
While need for product packaging products is recouping from a post-pandemic downturn, sticky rising cost of living and a careful customer belief have actually considered on sales.
The firm’s web sales increased virtually 11% to $2.15 billion in the quarter. Analysts, typically, approximated $2.13 billion, according to information put together by LSEG.
It reported a fourth-quarter modified earnings of $2.47 per share, compared to the price quotes of $2.53.
(Reporting by Utkarsh Shetti and Nathan Gomes in Bengaluru; Editing by Shilpi Majumdar and Alan Barona)
