(RTTNews) – Sonoco Products (SON) reported third-quarter earnings that rose from last year and beat Street estimates.
The company’s profit was $131 million, or $1.32 per share. This compares with $122 million, or $1.24 per share, in the third quarter of last year.
Excluding items, Sonoco Products reported adjusted earnings of $145 million, or $1.46 per share, for the period.
Analysts on average expected the company to earn $1.23 per share, according to figures from Thomson Reuters. Analyst estimates generally exclude exceptional items.
The company’s revenue fell 9.5% to $1.71 billion this quarter, compared to $1.89 billion last year.
Sonoco Products earnings at a glance (GAAP):
-Earnings (Q3): $131 million. vs. $122 million. last year. -EPS (Q3): $1.32 vs. $1.24 last year. – Analyst estimate: $1.23 – Revenue (Q3): $1.71 billion vs. $1.89 billion last year.
-Accompaniment: Next quarter EPS guidance: $1.01 to $1.16 Full year EPS guidance: $5.25 to $5.40
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