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Sonoco: 3Q Earnings Snapshot

HARTSVILLE, S.C. (AP) _ Sonoco Products Co. (SON) on Thursday reported third-quarter net income of $72.4 million.

On a per-share basis, the Hartsville, South Carolina-based company said it had profit of 72 cents. Earnings, adjusted for one-time gains and costs, came to 86 cents per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 82 cents per share.

The packaging maker posted revenue of $1.36 billion in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $1.38 billion.

For the current quarter ending in December, Sonoco expects its per-share earnings to range from 75 cents to 81 cents.

The company expects full-year earnings in the range of $3.28 to $3.34 per share.

Sonoco shares have fallen roughly 1 percent since the beginning of the year. The stock has climbed nearly 3 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