Sonoco (SON) Reports In-Line Q3 EPS; Provides 4Q & FY20 EPS Guidance

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Sonoco Reports Third Quarter 2020 Results

October 22, 2020 6:45 AM EDT

HARTSVILLE, S.C., Oct. 22, 2020 (GLOBE NEWSWIRE) -- Sonoco (NYSE: SON), one of the largest diversified global packaging companies, today reported financial results for its third quarter ended September 27, 2020.

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... More