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Packaging Corporation of America (NYSE: PKG), Lake Forest, IL, reported sales for the fourth quarter of $736.6 million, an increase of 12.6 percent compared to the same period a year ago. Profit increased 54.4 percent to $61 million.
For the full year, sales were $2.8 billion, an increase of 8.5 percent year-over-year. Profit increased 3.7 percent to $163.8 million.
“Looking ahead to the first quarter,” CEO Mark W. Kowlzan said, “we expect lower containerboard production and higher operating costs compared to the fourth quarter with two less mill production days and annual maintenance downtime. We also expect higher energy costs with colder weather, and a pattern of extremely wet weather in the south is putting pressure on wood costs and availability."