The Lake Forest-based company saw earnings drop to $2.15 a share from $2.67 a year ago. On an adjusted basis, the firm hit $2.35 a share, narrowly outpacing the $2.31 consensus estimate from FactSet analysts. Revenue growth remained robust, climbing from $2.17 billion in the previous year, largely buoyed by a 24% surge in total corrugated-product shipments when including the acquisition of the Greif business.

Chief Executive Mark Kowlzan pointed to a divergent outlook for the coming months. While the company expects sustained demand within its core packaging segment, the paper division faces a mix of lower volumes and elevated pricing, exacerbated by scheduled maintenance outages. Looking ahead to the third quarter, the company projected adjusted earnings of $2.91 a share, falling slightly short of the $2.94 anticipated by market analysts.