Sonoco Reports Third Quarter 2019 Results
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Sonoco (SON) Tops Q3 EPS by 6c, Revenues Miss; Offers Q4 & FY19 EPS Guidance Below Consensus
October 17, 2019 6:47 AM EDTSonoco (NYSE: SON) reported Q3 EPS of $0.97, $0.06 better than the analyst estimate of $0.91. Revenue for the quarter came in at $1.35 billion versus the consensus estimate of $1.38 billion.
Third Quarter Highlights
Third-quarter 2019 GAAP earnings per diluted share were $0.91, compared with $0.72 in 2018.Third-quarter 2019 GAAP earnings included net after-tax charges of $6.1 million related to restructuring actions, non-operating pension costs, acquisition-related costs and an environmental reserve release. In the third quarter of 2018, GAAP results included net after-tax charges of $14.8 million, for restructuring actions and asset impairment charges related to exiting a packaging center contract, plant... More