Sonoco Products Co reports results for the quarter ended in January - Earnings Summary

Sonoco Products

01/08/2024 24:25

* Sonoco Products Co  SON.N  reported quarterly adjusted
earnings
of $1.28​​ per share for the quarter ended in January, lower
than the same quarter last year, when the company reported EPS
of $1.38.  The mean expectation of seven analysts for the
quarter was for earnings of $1.24 per share. Wall Street
expected results to range from $1.09  to $1.30 per share.
    * Revenue fell 4.8% to $1.62 billion from a year ago;
analysts
expected $1.69 billion. 
    * Sonoco Products Co's reported EPS for the quarter was 92
cents​.
    * The company reported quarterly net income of $90.81
million.
    * Sonoco Products Co shares had risen by 4.9% this
quarter and
lost 4.8% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 3.3%
in the last three months.​ 
    * In the last 30 days, three analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 5 "strong buy" or "buy," 3
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the paper
packaging
peer group is also "buy"

Wall Street's median 12-month price target for Sonoco Products
Co is $60.50 
This summary was machine generated from LSEG data July 31 at
11:25 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jan. 1 0001       1.24           1.28           Beat
 Mar. 31 2024      1.05           1.12           Beat
 Jan. 1 0001       1.04           1.02           Missed
 Sep. 30 2023      1.23           1.46           Beat