On the Oct. 22 call, Packaging Corporation of America (PCA) Chief Financial Officer Kent Pflederer said the Greif integration was producing synergies at a $40 million-to-$50 million run rate.
PCA forecast fourth-quarter earnings of $2.81 per share before special items. Pflederer also discussed other integration gains and the reliability and costs of the Greif mills.
Corrugated-product shipments were 10.6% higher than a year earlier. The company’s adjusted earnings for the quarter were $3.04 per share, versus $2.73 a year earlier. Greif operations represented 24 cents of the total 31-cent improvement.
PCA expects higher fourth-quarter costs for freight, recycled fiber and wood fiber, among other factors.
