Sonoco: Q1 Earnings Snapshot
HARTSVILLE, S.C. (AP) _ Sonoco Products Co. (SON) on Thursday reported first-quarter profit of $115.3 million.
On a per-share basis, the Hartsville, South Carolina-based company said it had net income of $1.17. Earnings, adjusted for costs related to mergers and acquisitions and amortization costs, came to $1.85 per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.74 per share.
The packaging maker posted revenue of $1.77 billion in the period, which met Street forecasts.
For the current quarter ending in July, Sonoco expects its per-share earnings to range from $1.20 to $1.30.
The company expects full-year earnings in the range of $5.25 to $5.45 per share.