Packaging Corp. of America, which makes containerboard and corrugated packaging products, said Monday it expects profit of 38 cents per share during the second quarter.

The guidance falls short of Wall Street expectations, with analysts polled by Thomson Financial expecting profit of 44 cents per share.

The company expects both higher containerboard production and corrugated product shipments in the second quarter. Its Tomahawk, Wis., and Filer City, Mich., medium mills will be down for their annual outage, costing about 2 cents per share. Prices for fuels, chemicals and freight are expected to be on average higher than the first quarter. The company will also see a 2-cents-per-share charge for debt refinancing and start-up costs for projects at the Filer City and Valdosta, Ga., mills.