Sonoco: Q1 Earnings Snapshot

Associated Press Finance
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HARTSVILLE, S.C. (AP) — HARTSVILLE, S.C. (AP) — Sonoco Products Co. (SON) on Monday reported first-quarter earnings of $148.3 million.

The Hartsville, South Carolina-based company said it had profit of $1.50 per share. Earnings, adjusted for one-time gains and costs, came to $1.40 per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.33 per share.

The packaging maker posted revenue of $1.73 billion in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $1.82 billion.

For the current quarter ending in June, Sonoco expects its per-share earnings to range from $1.45 to $1.55.

The company expects full-year earnings in the range of $5.70 to $6 per share.

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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

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