Published on 3 May 2024 on Zacks via Yahoo Finance
Sonoco (SON) Earnings Top Estimates in Q1, Lowers '24 View
Sonoco Products Company SON reported adjusted earnings per share of $1.12 in the first quarter of 2024, beating the Zacks Consensus Estimate of $1.08. The figure was within the company’s guidance of $1.05-$1.15. The bottom line fell 20% from the prior-year quarter.Including one-time items, the company reported earnings of 66 cents, which compared unfavorably with the year-ago quarter’s $1.50.Sonoco’s net sales were $1.64 billion, missing the Zacks Consensus Estimate of $1.69 billion. The top line fell 5% year over year on lower pricing. Overall volumes remained flat as lower volumes offset the gains from acquisitions.
Sonoco Products Company Price, Consensus and EPS Surprise