NORTHBROOK, Ill. (AP) _ KapStone Paper and Packaging Corp. (KS) on Wednesday reported third-quarter net income of $34.2 million.
The Northbrook, Illinois-based company said it had profit of 35 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, came to 51 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
The maker of paper container and packaging products posted revenue of $807.6 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $856.2 million.
KapStone shares have dropped 30 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $20.60, a fall of 29 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KS at http://www.zacks.com/ap/KS
Keywords: KapStone Paper, Earnings Report
Automated Insights, source Associated Press News