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

Sonoco Products

01/05/2024 04:19

* Sonoco Products Co  SON.N  reported quarterly adjusted
earnings
of $1.12​​ per share for the quarter ended in March, lower than
the same quarter last year, when the company reported EPS of
$1.40.  The mean expectation of six analysts for the quarter was
for earnings of $1.05 per share. Wall Street expected results to
range from 96 cents to $1.12 per share.
    * Revenue fell 5.3% to $1.64 billion from a year ago;
analysts
expected $1.67 billion. 
    * Sonoco Products Co's reported EPS for the quarter was 66
cents​.
    * The company reported quarterly net income of $65.18
million.
    * Sonoco Products Co shares had fallen by 1.0% this
quarter and
gained 2.5% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 12.2%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 3 "strong buy" or "buy," 4
"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 $65.00 
This summary was machine generated from LSEG data May 1 at 03:18
a.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
 Mar. 31 2024                     1.12           
 Dec. 31 2023      1.04           1.02           Missed
 Sep. 30 2023      1.23           1.46           Beat
 Jun. 30 2023      1.48           1.38           Missed