Vertical Group Downgrades Sonoco Products (SON) to Sell

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Go back to Vertical Group Downgrades Sonoco Products (SON) to Sell

Sonoco Reports Second Quarter 2016 Results

July 21, 2016 6:45 AM EDT

HARTSVILLE, S.C., July 21, 2016 (GLOBE NEWSWIRE) -- Sonoco (NYSE: SON), one of the largest diversified global packaging companies, today reported financial results for its second quarter, ending July 3, 2016.

Second Quarter Highlights

Second quarter 2016 GAAP earnings per diluted share were $0.55, compared with $0.63 in 2015.Second quarter 2016 GAAP results included $0.18 per diluted share, after tax, in asset impairment and restructuring expenses largely related to the divestiture of a paper mill in France and a retail packaging business in Puerto Rico, along with other previously announced restructuring actions. In... More