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Packaging Corporation of America (NYSE: PKG), Lake Forest, IL, reported second-quarter sales of $1.5 billion, an increase of 83.5 percent year-over-year. Profit increased 50.2 percent to $99.6 million.
“We had an outstanding quarter driven by strong corrugated products volume, higher prices and lower costs," said CEO Mark Kowlzan. "Synergy realization from the Boise acquisition at both our mills and box plants was also ahead of our projections as we continued to implement a broad range of actions to improve productivity and reduce costs."
For the first six months of the year, sales were $2.9 billion, up 81.3 percent over the prior-year period. Profit increased 47.5 percent to $189.6 million.