Packaging Corp.: Q1 Earnings Snapshot
April 26, 2021
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LAKE FOREST, Ill. (AP) Packaging Corp. of America (PKG) on Monday reported first-quarter earnings of $166.5 million.
The Lake Forest, Illinois-based company said it had net income of $1.75 per share. Earnings, adjusted for non-recurring costs, were $1.77 per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.47 per share.
The maker of containerboard and corrugated packaging products posted revenue of $1.81 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $1.74 billion.
Packaging Corp. shares have risen roughly 4% since the beginning of the year. In the final minutes of trading on Monday, shares hit $143.15, an increase of 66% in the last 12 months.
Packaging Corporation of America (NYSE:PKG) - Earnings Preview for Packaging Corp of America
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In Part II of this newsletter, we continue our review of significant developments, cases, and verdicts in 2020.
Misappropriation
Illinois
The State of Illinois follows the “inevitable disclosure” doctrine under the Illinois Trade Secrets Act and in analyzing misappropriation of trade secrets claims under the Defend Trade Secrets Act. Under the doctrine, a plaintiff can pursue a claim for misappropriation or enjoin it by establishing that the defendant “could not operate or function” in her new position without relying on the trade secrets.
In
Packaging Corp., the district court granted a motion to dismiss the misappropriation of trade secrets claims because the complaint did not sufficiently allege facts that made it plausible to infer the defendant disclosed plaintiff’s trade secrets. Mere allegations that it is possible plaintiff disclosed trade secrets is insufficient. Plaintiff’s complaint must all
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