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.


More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.