Packaging Corporation of America (NYSE: PKG), Lake Forest, IL, reported sales for the first quarter of $755 million, up 12 percent from the first quarter of 2012. Profit increased 240 percent to $61 million.
Mark Kowlzan, CEO, said, “We had an outstanding quarter in all aspects of our operations with higher pricing and strong volume driving all-time records for sales, corrugated products shipments and earnings per share. Corrugated products demand was stronger than we expected throughout the quarter, and our mills ran extremely well, allowing us to meet the strong demand while building needed containerboard inventory to help support our mill maintenance outages in the second quarter.”
PCA had sales of $2.8 billion in 2012. The company operates four U.S. paper mills and 71 U.S. corrugated products plants.
