Packaging Corp. of America reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported net income of $61 million or $0.63 diluted earnings per share on net sales of $736.6 million against net income of $39.5 million or $0.41 diluted earnings per share on net sales of $654.3 million a year ago. Income before interest and taxes was $98.4 million and income before taxes was $89 million against income before interest and taxes of $67.8 million and income before taxes of $58.5 million a year ago. The $0.21 per share increase in earnings, excluding special items, was driven by higher containerboard and corrugated products price and mix ($0.12), higher volume ($0.09) and lower costs for recycled fiber ($0.04) and energy ($0.02). These items were partially offset by higher costs for labor and benefits ($0.05).

For the year, the company reported net income of $163.8 million or $1.68 diluted earnings per share on net sales of $2,843.9 million against net income of $158 million or $1.57 diluted earnings per share on net sales of $2,620.1 million a year ago. Income before interest and taxes was $443.4 million and income before taxes was $380.5 million against income before interest and taxes of $272.7 million and income before taxes of $243.5 million a year ago. The $0.45 per share increase in earnings was driven by higher volume ($0.33) and price and mix ($0.06), lower costs for energy ($0.17), recycled fiber ($0.12) and chemicals ($0.05) and a lower share count ($0.05).