PKG Q3 adj EPS $2.83 beats $2.80 guidance; Q4 guided at $2.22

PACKAGING CORP OF AMERICA

2022-Q3 EPS reported $8.70 revenue$6,499,600,000

GAAP EPS $2.80, adjusted EPS $2.83; net income $262M; sales $2.1B vs $2.0B a year ago.
Packaging shipments fell 6.0% YoY; containerboard inventory up 11K tons vs Q3 2021.
CEO cites significant cost inflation and packaging demand below expectations despite price hikes.
Q4 guidance of $2.22 per share, citing lower demand, higher costs, and fewer shipping days.

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