Packaging Corp Of America (PKG) released its first quarter results on Wednesday, April 28, 2021. The company reported net earnings of $1.75 per share for the first quarter ending March 31, 2021. Earnings for this past quarter were up 17 percent compared to the same period a year ago.
Packaging Corporation of America was founded in 1867 and is headquartered in Lake Forest, Illinois. Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through Packaging and Paper segments.
Packaging Corp Of America's revenue decreased 3 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 27.92% for the first quarter compared to the same period in the previous year, and operating margins increased to 14.31% over the same period. Net earnings for past trailing twelve months were $483.4 million, down 25% from the prior year.
Moving on to the balance sheet, Packaging Corp Of America’s cash levels jumped 43% for the third quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, increased 2.63% this past year. The current ratio for Packaging Corp Of America now stands at 3.51. The company increased shares outstanding by 0.19%.
Shares of PKG are currently trading around $145.37. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 28.53 and price to book ratio of 4.24.
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This article was written by Value Investing News (https://www.valueinvestingnews.com) on Thursday, April 29, 2021.