Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Packaging Corporation of America (NYSE: PKG) and the best and worst performers in the industrial packaging industry.

Industrial packaging companies have built competitive advantages from economies of scale that lead to advantaged purchasing and capital investments that are difficult and expensive to replicate. Recently, eco-friendly packaging and conservation are driving customers preferences and innovation. For example, plastic is not as desirable a material as it once was. Despite being integral to consumer goods ranging from beer to toothpaste to laundry detergent, these companies are still at the whim of the macro, especially consumer health and consumer willingness to spend.

The 8 industrial packaging stocks we track reported a mixed Q3. As a group, revenues beat analysts’ consensus estimates by 0.8%.

In light of this news, share prices of the companies have held steady as they are up 3.6% on average since the latest earnings results.

Packaging Corporation of America (NYSE: PKG)

Founded in 1959, Packaging Corporation of America (NYSE: PKG) produces containerboard and corrugated packaging products as well as displays and package protection.

Packaging Corporation of America reported revenues of $2.31 billion, up 6% year on year. This print was in line with analysts’ expectations, but overall, it was a softer quarter for the company with a significant miss of analysts’ EPS estimates.

Commenting on reported results, Mark W. Kowlzan, Chairman and CEO, said, “We had a very strong quarter in the legacy PCA packaging business, with corrugated volume continuing to reflect cautious ordering patterns and improving throughout the quarter, with volume and price largely on plan. Export containerboard sales volume remained relatively low with continued trade uncertainty. Our containerboard mills continued to operate very efficiently and we ended the quarter at targeted containerboard inventory levels in the legacy PCA system. The Paper segment delivered another outstanding quarter on strong sales volume and operating performance at the International Falls mill.”

The market was likely pricing in the results, and the stock is flat since reporting. It currently trades at $206.86.

Read our full report on Packaging Corporation of America here, it’s free for active Edge members.

Best Q3: Crown Holdings (NYSE: CCK)

Formerly Crown Cork & Seal, Crown Holdings (NYSE: CCK) produces packaging products for consumer marketing companies, including food, beverage, household, and industrial products.

Crown Holdings reported revenues of $3.20 billion, up 4.2% year on year, outperforming analysts’ expectations by 1.5%. The business had an exceptional quarter with EPS guidance for next quarter exceeding analysts’ expectations and full-year EPS guidance exceeding analysts’ expectations.

The market seems happy with the results as the stock is up 5.7% since reporting. It currently trades at $100.64.

Is now the time to buy Crown Holdings? Access our full analysis of the earnings results here, it’s free for active Edge members.

Weakest Q3: International Paper (NYSE: IP)

Established in 1898, International Paper (NYSE: IP) produces containerboard, pulp, paper, and materials used in packaging and printing applications.

International Paper reported revenues of $6.22 billion, up 32.8% year on year, falling short of analysts’ expectations by 3.6%. It was a disappointing quarter as it posted a significant miss of analysts’ revenue estimates and a significant miss of analysts’ adjusted operating income estimates.

International Paper delivered the fastest revenue growth but had the weakest performance against analyst estimates in the group. As expected, the stock is down 9.8% since the results and currently trades at $39.88.

Read our full analysis of International Paper’s results here.

Sealed Air (NYSE: SEE)

Founded in 1960, Sealed Air Corporation (NYSE: SEE) specializes in the development and production of protective and food packaging solutions, serving a variety of industries.

Sealed Air reported revenues of $1.35 billion, flat year on year. This number beat analysts’ expectations by 2.7%. It was an exceptional quarter as it also logged an impressive beat of analysts’ sales volume estimates and an impressive beat of analysts’ adjusted operating income estimates.

Sealed Air pulled off the highest full-year guidance raise among its peers. The stock is up 22.3% since reporting and currently trades at $41.56.

Read our full, actionable report on Sealed Air here, it’s free for active Edge members.

Ball (NYSE: BALL)

Started with a $200 loan in 1880, Ball (NYSE: BLL) manufactures aluminum packaging for beverages, personal care, and household products as well as aerospace systems and other technologies.

Ball reported revenues of $3.38 billion, up 9.6% year on year. This print topped analysts’ expectations by 1.3%. Overall, it was a strong quarter as it also recorded a narrow beat of analysts’ revenue estimates and a narrow beat of analysts’ organic revenue estimates.

The stock is up 13.5% since reporting and currently trades at $53.48.

Read our full, actionable report on Ball here, it’s free for active Edge members.

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