Sonoco Reports Second Quarter 2020 Results

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Go back to Sonoco Reports Second Quarter 2020 Results

UPDATE: Sonoco (SON) Tops Q2 EPS by 1c, Revenues Miss; Provides 3Q EPS Outlook

July 16, 2020 6:49 AM EDT

(Updated - July 16, 2020 6:50 AM EDT)

Sonoco (NYSE: SON) reported Q2 EPS of $0.79, $0.01 better than the analyst estimate of $0.78. Revenue for the quarter came in at $1.25 billion versus the consensus estimate of $1.32 billion.

Second Quarter Highlights

Second-quarter 2020 GAAP earnings per diluted share were $0.55, compared with $0.80 in 2019.Second-quarter 2020 GAAP earnings included net after-tax charges of $24.9 million related primarily to operational restructuring activity and non-operating pension costs. In the second quarter of 2019, GAAP earnings included net after-tax charges of $15.3 million related mostly to restructuring actions and non-operating pension costs.Base net income... More