RICHMOND, Virginia — MeadWestvaco Corp. (MWV) on Tuesday reported third-quarter earnings of $105 million.
On a per-share basis, the Richmond, Virginia-based company said it had profit of 61 cents. Earnings, adjusted for one-time gains and costs, came to 63 cents per share.
The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.
The packaging company posted revenue of $1.47 billion in the period, also surpassing Street forecasts. Analysts expected $1.44 billion, according to Zacks.
MeadWestvaco shares have climbed 12 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 6 percent. The stock has risen 5.5 percent in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research. MWV stock research report from Zacks.