Sonoco Reports Third Quarter 2018 Results
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UPDATE: Sonoco (SON) Tops Q3 EPS by 4c, Revenues Miss; Updates FY18 EPS Guidance, Boosts FY18 Op. Cash Flow & FCF Guidance
October 18, 2018 6:48 AM EDT(Updated - October 18, 2018 6:49 AM EDT)
Sonoco (NYSE: SON) reported Q3 EPS of $0.86, $0.04 better than the analyst estimate of $0.82. Revenue for the quarter came in at $1.36 billion versus the consensus estimate of $1.38 billion.
Third Quarter Highlights
Third-quarter 2018 GAAP earnings per diluted share were $0.72, compared with $0.72 in 2017.Third-quarter 2018 GAAP earnings included after-tax restructuring and asset impairment charges of $15.0 million related to exiting a packaging center contract; plant closures; and non-base tax-related gains. In the third quarter of 2017, GAAP results included $3.8 million, after tax, in acquisition-related expenses and non-base tax-related charges.Base... More