Sonoco Products (SON) PT Raised to $47 at Jefferies

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Sonoco Reports Third Quarter 2016 Results

October 20, 2016 6:45 AM EDT

HARTSVILLE, S.C., Oct. 20, 2016 (GLOBE NEWSWIRE) -- Sonoco (NYSE: SON), one of the largest diversified global packaging companies, today reported financial results for its third quarter, ending October 2, 2016.

Third Quarter Highlights

Third quarter 2016 GAAP earnings per diluted share were $0.64, compared with $0.43 in 2015.Third quarter 2016 GAAP results included $0.08 per diluted share, after tax, in restructuring expenses related to plant closures and a goodwill impairment charge involving its industrial converting operations in Brazil. In the third quarter of 2015, GAAP results included $0.23 per diluted share, after tax, in foreign exchange-related asset impairment charges... More