Packaging Corp. sees Q4 EPS $1.15, consensus $1.16
"Looking ahead to the fourth quarter," chairman and CEO Mark Kowlzan said, "we expect seasonally lower volumes for containerboard and corrugated products, which includes four less shipping days, as well as a seasonally less rich mix in corrugated products, compared to the third quarter. However, we will have three months of TimBar activity in the fourth quarter versus only one month in the third quarter. In addition, we did announce a price increase of $50 per ton effective October 1st to our containerboard customers as well as a price increase to our corrugated products customers. We expect seasonally lower volumes and a less rich mix in white papers and, with colder weather, wood and fuel costs are expected to be seasonally higher along with some price inflation on recycled fiber. Our annual outage costs also will be higher with the scheduled maintenance work at our Filer City, Michigan containerboard mill. Considering these items, we expect fourth quarter earnings of $1.15 per share. In addition, as previously announced, we are on track to close the acquisition of Columbus Container during the fourth quarter."