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How Has Packaging Corporation of America Performed in 3Q16?

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Oct. 21 2016, Updated 8:06 a.m. ET

Price movement

Packaging Corporation of America (PKG) has a market cap of $8.0 billion. It rose 2.1% to close at $85.54 per share on October 19, 2016. The stock’s weekly, monthly, and year-to-date (or YTD) price movements were 4.0%, 7.2%, and 39.3%, respectively, on the same day. PKG is trading 5.1% above its 20-day moving average, 7.8% above its 50-day moving average, and 30.7% above its 200-day moving average.

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Related ETF and peers

The iShares Global Timber & Forestry ETF (WOOD) invests 4.9% of its holdings in PKG. The ETF tracks the 25 largest publicly listed companies that own or manage forests and timberlands. The YTD price movement of WOOD was 4.1% on October 19.

The market caps of PKG’s competitors are as follows:

  • International Paper (IP) — $19.9 billion
  • WestRock (WRK) — $12.3 billion
  • Domtar (UFS) — $2.4 billion

Performance of Packaging Corporation of America in 3Q16

Packaging Corporation of America reported 3Q16 net sales of $1.48 billion, a rise of 0.90% over the net sales of $1.47 billion in 3Q15. Sales of the packaging and paper segments rose 2.0% and 0.31%, respectively, between 3Q15 and 3Q16. The company’s gross profit margin and operating margin fell ten basis points and 100 basis points, respectively.

Its net income and EPS (earnings per share) fell to $118.2 million and $1.26, respectively, in 3Q16, compared with $126.3 million and $1.31 in 3Q15. It reported EBITDA (earnings before interest, tax, depreciation, and amortization) excluding special items of $298.9 million in 3Q16, a fall of 0.03% from 3Q15.

PKG’s capital spending fell 12.8%, and its cash balance rose 49.7% between 3Q15 and 3Q16. Next, we’ll look at Crown Holdings (CCK).

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