SON

Sonoco Products Q3 Profit Increases, beats estimates

(RTTNews) - Sonoco Products (SON) reported a profit for its third quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $131 million, or $1.32 per share. This compares with $122 million, or $1.24 per share, in last year's third quarter.

Excluding items, Sonoco Products reported adjusted earnings of $145 million or $1.46 per share for the period.

Analysts on average had expected the company to earn $1.23 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 9.5% to $1.71 billion from $1.89 billion last year.

Sonoco Products earnings at a glance (GAAP) :

-Earnings (Q3): $131 Mln. vs. $122 Mln. last year. -EPS (Q3): $1.32 vs. $1.24 last year. -Analyst Estimate: $1.23 -Revenue (Q3): $1.71 Bln vs. $1.89 Bln last year.

-Guidance: Next quarter EPS guidance: $1.01 to $1.16 Full year EPS guidance: $5.25 to $5.40

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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