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Packaging Corporation of America (NYSE: PKG), Lake Forest, IL, reported first quarter sales of $1.53 billion, a 9.6 percent increase compared to the same period a year ago. Profit increased 13.2 percent to $117.4 million.
“Our results were driven by strong demand and higher prices for containerboard and corrugated products as well as from the benefits of our recent TimBar and Columbus Container acquisitions," said Mark W. Kowlzan, chairman and CEO. "We continued to implement our announced containerboard and corrugated products price increases throughout the quarter, which helped us offset higher inflation in many of our manufacturing and converting costs and higher freight costs."