Sonoco Reports First Quarter 2019 Results
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Sonoco (SON) Tops Q1 EPS by 5c, Revenues Miss; Raises FY19 EPS Mid-Point Guidance Above Consensus
April 18, 2019 6:47 AM EDTSonoco (NYSE: SON) reported Q1 EPS of $0.85, $0.05 better than the analyst estimate of $0.80. Revenue for the quarter came in at $1.35 billion versus the consensus estimate of $1.37 billion.
First-quarter 2019 GAAP earnings per diluted share were $0.73, compared with $0.73 in 2018.First-quarter 2019 GAAP earnings included after-tax charges of $12.5 million related to restructuring actions as well as non-operating pension costs. In the first quarter of 2018, GAAP results included net after-tax charges of $0.4 million, as after-tax restructuring charges were mostly offset by a tax benefit from the U. S. Tax Cuts and Jobs Acts of 2017.Base... More