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Sonoco Products Q2 adjusted earnings Beat Estimates

(RTTNews) - Sonoco Products (SON) revealed earnings for second quarter that declined from last year.

The company's earnings totaled $55.21 million, or $0.55 per share. This compares with $81.16 million, or $0.80 per share, in last year's second quarter.

Excluding items, Sonoco Products reported adjusted earnings of $80.13 million or $0.79 per share for the period.

Analysts had expected the company to earn $0.78 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 8.1% to $1.25 billion from $1.36 billion last year.

Sonoco Products earnings at a glance:

-Earnings (Q2): $80.13 Mln. vs. $96.47 Mln. last year. -EPS (Q2): $0.79 vs. $0.95 last year. -Analysts Estimate: $0.78 -Revenue (Q2): $1.25 Bln vs. $1.36 Bln last year.

-Guidance: Next quarter EPS guidance: $0.73 to $0.83

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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