Sonoco Reports Strong Second Quarter 2018 Results
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Sonoco (SON) Tops Q2 EPS by 7c, Revenues Beats; Boosts FY18 EPS Guidance
July 19, 2018 6:49 AM EDTSonoco (NYSE: SON) reported Q2 EPS of $0.93, $0.07 better than the analyst estimate of $0.86. Revenue for the quarter came in at $1.37 billion versus the consensus estimate of $1.34 billion.
Second Quarter Highlights
Second-quarter 2018 GAAP earnings per diluted share were $0.88, compared with $0.43 in 2017.Second-quarter 2018 GAAP earnings included after-tax charges of $4.4 million related to restructuring and acquisition-related expenses. In the second quarter of 2017, GAAP results included $28.7 million, after tax, in charges for lump-sum pension settlement distributions, restructuring-related activities and acquisition expenses.Base net income attributable to Sonoco (base earnings) for second quarter 2018 was $0.93 per diluted... More