Oct 22 (Reuters) - Packaging Corp of America ( PKG )

reported a third-quarter profit and revenue exceeding Wall

Street estimates on Tuesday, driven by price increases in its

paper and packaging segments.

The Lake Forest, Illinois-based company makes packaging

products for customers in industries such as food and beverages,

paper products, and retail trade sectors.

Packaging Corp's quarterly adjusted profit came in at $2.65

per share, surpassing average analysts' estimates of $2.50 per

share, according to data compiled by LSEG.

Increased consumer spending and higher pricing power

benefits companies like Packaging Corp as demand for its

products improves following a post-pandemic slowdown.

Total revenue for the third quarter ended September 30 rose

nearly 13% to $2.18 billion, compared with estimates of $2.09

billion.

"Very strong demand throughout the quarter led to

all-time quarterly records for container board production, total

box shipments and shipments per day," said CEO Mark Kowlzan.

Its packaging segment saw per day shipments rise 5.8%

sequentially, with corrugated products shipments increasing

11.1% from a year ago.

However, Kowlzan noted that total shipments for the

corrugated business in the next quarter could be affected by two

fewer shipping days and hurricane damage to the strawberry crops

in Florida.

He also indicated a sequential decline in shipments in

the paper segment, although demand in the packaging segment is

expected to remain strong.

The company forecast fourth-quarter adjusted profits of

$2.47 per share, slightly above the LSEG compiled mean of $2.46

per share.