Packaging Corp of America rises on Q3 results beat
** Packaging Corp of America's shares PKG.N rise ~4% to $225.00 after the bell
** Co posts Q3 profit and revenue exceeding Wall Street estimates, driven by price increases in its paper and packaging segments
** Q3 adjusted profit came in at $2.65 per share, surpassing average analysts' estimates of $2.50 per share, according to data compiled by LSEG.
** Q3 revenue rose 13% to $2.18 bln, compared with estimates of $2.09 bln
** CEO Mark Kowlzan says total shipments for the corrugated business in Q4 could be affected by two fewer shipping days, hurricane damage to the strawberry crops in Florida
** Sees sequential decline in shipments in the paper segment, although demand in the packaging segment is expected to remain strong
** Co forecast Q4 adjusted profits of $2.47 per share, slightly above the LSEG compiled mean of $2.46 per share
** As of last close, stock had risen 33% YTD
Reporting by Aatreyee Dasgupta
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