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Packaging Corporation of America (NYSE: PKG), Lake Forest, IL, reported sales of $671 million in the first quarter, up 7 percent over sales in the first quarter of 2011. Profit was $18 million, compared to $37 million a year ago.
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Corrugated products shipments were up 8.3 percent compared to last year’s first quarter, and outside sales of containerboard were essentially equal to last year.
Containerboard production was 640,000 tons, up 38,000 tons over the first quarter of 2011. PCA ended the quarter with its containerboard inventories about 11,000 tons above year-end 2011 levels.
PCA operates four paper mills and 72 corrugated products plants in 26 states across the country.