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

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

Sonoco Reports Second Quarter 2020 Results

July 16, 2020 6:45 AM EDT

HARTSVILLE, S.C., July 16, 2020 (GLOBE NEWSWIRE) -- Sonoco (NYSE: SON), one of the largest diversified global packaging companies, today reported financial results for its second quarter ended June 28, 2020, and provided an update related to the impact of the COVID-19 pandemic on the Company.

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... More