Packaging Corp of America Q3 revenue misses estimates on lower volumes
) Corp of America on Monday reported third-quarter revenue that missed estimates, and also posted a decline in profit hit by lower volumes for both packaging and paper segments.
For the fourth quarter, the company expects pricing to remain weak in both the packaging and paper segments. Revenue in the packaging segment declined to $1.76 billion from $1.94 billion last year, while that in paper segment fell to $157.9 million from $165.3 million.
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