Packaging Corporation of America (PKG)

International Paper tops quarterly sales on higher prices, demand rebound

Packaging company International Paper beat Wall Street's expectations for first-quarter sales on Thursday, capitalizing on higher prices, improved production and a rebound in demand for its products. Initially buoyed by a surge in online shopping during the pandemic, paper and packaging firms faced a slowdown when economies reopened. Peer Packaging Corp of America reported a quarterly revenue beat on Tuesday from higher pricing, improved production and a recovery in demand for its corrugated packaging products.