Sonoco Reports Third Quarter 2020 Results
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Sonoco (SON) Reports In-Line Q3 EPS; Provides 4Q & FY20 EPS Guidance
October 22, 2020 6:49 AM EDTSonoco (NYSE: SON) reported Q3 EPS of $0.82, in-line with the analyst estimate of $0.82. Revenue for the quarter came in at $1.31 billion versus the consensus estimate of $1.32 billion.
Third Quarter Highlights
Third-quarter 2020 GAAP earnings per diluted share were $0.82, compared with $0.91 in 2019.Third-quarter 2020 GAAP earnings included net after-tax charges of $3.6 million related primarily to restructuring activity and non-operating pension costs mostly offset by a tax benefit related to anticipated divestiture activity. In the third quarter of 2019, GAAP earnings included net after-tax charges of $6.1 million related mostly to restructuring actions and non-operating pension costs... More