Sonoco: Q1 Earnings Snapshot
By AP News
Published - May 01, 2023, 05:39 PM ET
Last Updated - Jun 22, 2023, 12:19 AM EDT
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.
