Packaging Corporation of America (NYSE: PKG), Lake Forest, IL, reported sales for the second quarter of $712.5 million, a 7 percent increase over the same period a year ago. Profit increased 14 percent to $45.2 million.
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For the first six months, sales were $1.3 billion, a 6.8 percent increase year-over-year. Profit decreased 17.9 percent to $63 million.
Corrugated products shipments were up 6.6 percent compared to last year’s second quarter. This increase included 3.6 percent from box plant acquisitions.
Containerboard production was 638,000 tons, up 5.3 percent over the second quarter of 2011. PCA ended the quarter with its containerboard inventories about 1,000 tons below the end of the first quarter.
“We had another strong quarter with record corrugated products shipments, highly productive mill operations, and lower than expected mill costs,” CEO Mark W. Kowlzan said. “Pricing for corrugated products and domestic containerboard remained steady, export prices were higher and mix improved compared to the first quarter.”
PCA operates four paper mills and 72 corrugated products plants in 26 states.
