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Sonoco: 1Q Earnings Snapshot

HARTSVILLE, S.C. (AP) _ Sonoco Products Co. (SON) on Thursday reported first-quarter earnings of $73.7 million.

The Hartsville, South Carolina-based company said it had net income of 73 cents per share. Earnings, adjusted for restructuring costs and non-recurring costs, were 85 cents per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 80 cents per share.

The packaging maker posted revenue of $1.35 billion in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $1.37 billion.

For the current quarter ending in July, Sonoco expects its per-share earnings to range from 93 cents to 99 cents.

The company expects full-year earnings in the range of $3.52 to $3.62 per share.

Sonoco shares have climbed 15 percent since the beginning of the year. The stock has climbed 22 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SON at https://www.zacks.com/ap/SON