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July 21, 2014
17:06 EDTPKGPackaging Corp. reports Q2 EPS ex-items $1.16, consensus $1.11
Reports Q2 revenue $1.47B, consensus $1.46B. In the packaging segment, EBITDA in Q2, excluding special items, was $259M on sales of $1.15B. Corrugated products shipments were up 4.8% compared to Q1, and excluding Boise, PCA shipments were up 5.5% in total and 3.8% per workday compared to Q2 last year. With strong internal demand, PCA reduced its outside sales of containerboard by 8,000 tons compared to last year’s Q2. Containerboard production was 846,000 tons, up 25,000 tons compared to Q1. In the paper segment, EBITDA in Q2, excluding special items, was $45M on sales of $295M. Office paper shipments were down 2%, or 4,000 tons, compared to last year’s Q2, and printing and converting and pressure sensitive paper shipments decreased by 26,000 tons as a result of 4Q13 paper machine closures at the International Falls, Minnesota mill.
News For PKG From The Last 14 Days
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January 28, 2015
09:59 EDTPKGOn The Fly: Analyst Upgrade Summary
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07:01 EDTPKGPackaging Corp. upgraded to Buy from Neutral at DA Davidson
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January 27, 2015
12:28 EDTPKGOn The Fly: Midday Wrap
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09:17 EDTPKGOn The Fly: Pre-market Movers
HIGHER: Silicon Image (SIMG), up 23% after signing agreement to be acquired by Lattice Semiconductor (LSCC)... USA Technologies (USAT), up 5% following nationwide roll-out of new Apple Pay points... TE Connectivity (TEL), up 3.9% following a Wall Street Journal report that the company is close to a deal with Commscope (COMM)... Select Comfort (SCSS), up 1% after being upgraded to Buy from Hold at Stifel. DOWN AFTER EARNINGS: Microsoft (MSFT), down 8.2%... Caterpillar (CAT), down 7.8%... Packaging Corp (PKG), down 8.3%... Peabody Energy (BTU), down 5.3%... Freeport-McMoRan (FCX), down 5.7%... Polaris Industries (PII), down 2.1%... United Technologies (UTX), down 2.3%... Procter & Gamble (PG), down 2.6%.
06:21 EDTPKGGraphic Packaging, Packaging Corp. could be targets, says Citigroup
Citigroup believes the merger between Rock-Tenn (RKT) and MeadWestvaco (MWV) makes sense and that the combined company has 16% upside potential from current levels. Citi believes the $300M synergy target could prove conservative and raised its price target for Rock-Tenn shares to $77 from $72. It thinks smaller players in the Paper & Forest products space, Graphic Packaging (GPK) and Packaging Corp. (PKG), could be potential takeover targets either for an acquirer or for a merger following the Rock-Tenn/MeadWestvaco deal. Citi views International Paper (IP) as a potential acquirer.
January 26, 2015
18:28 EDTPKGOn The Fly: After Hours Movers
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17:15 EDTPKGPackaging Corp. sees Q1 EPS $1.07-$1.10, consensus $1.26
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17:14 EDTPKGPackaging Corp. reports Q4 adjusted EPS $1.16, consensus $1.17
Reports Q4 revenue $1.434B, consensus $1.49B.
15:30 EDTPKGNotable companies reporting after market close
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January 23, 2015
08:19 EDTPKGBofA/Merrill paper/forest products analyst hold analyst/industry conference call
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January 22, 2015
10:03 EDTPKGOn the Fly: Analyst Downgrade Summary
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06:08 EDTPKGPackaging Corp. downgraded to Market Perform from Outperform at BMO Capital
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