Sonoco (SON) Tops Q4 EPS by 2c; Approves $100M Common Stock Buyback

Sonoco (NYSE: SON) reported Q4 EPS of $0.64, $0.02 better than the analyst estimate of $0.62. Revenue for the quarter came in at $1.27 billion versus the consensus estimate of $1.28 billion.

Sonoco’s Board of Directors has authorized management, at its discretion, to immediately begin repurchasing up to $100 million of the Company’s outstanding common stock through open market purchases. Based on the February 10, 2016, stock price of $40.41, if fully utilized this authorization would reduce the Company’s outstanding share count by approximately 2.5 million shares. In addition, the Board restored the Company’s residual common stock repurchase authorization to its original 5 million shares.

GUIDANCE:

Sonoco sees Q1 2016 EPS of $0.57-$0.62, versus the consensus of $0.59.

Sonoco sees FY2016 EPS of $2.64-$2.74, versus the consensus of $2.69.

For earnings history and earnings-related data on Sonoco (SON) click here.

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