Sonoco Products Q2 Profit Decreases, But Beats Estimates

(RTTNews) - Sonoco Products (SON) announced a profit for second quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $91 million, or $0.92 per share. This compares with $115 million, or $1.16 per share, in last year's second quarter.

Excluding items, Sonoco Products reported adjusted earnings of $127 million or $1.28 per share for the period.

Analysts on average had expected the company to earn $1.24 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 4.8% to $1.623 billion from $1.705 billion last year.

Sonoco Products earnings at a glance (GAAP) :

-Earnings (Q2): $91 Mln. vs. $115 Mln. last year. -EPS (Q2): $0.92 vs. $1.16 last year. -Revenue (Q2): $1.623 Bln vs. $1.705 Bln last year.

-Guidance: Full year EPS guidance: $5.00 to $5.30