Sonoco: 4Q Earnings Snapshot
HARTSVILLE, S.C. (AP) _ Sonoco Products Co. (SON) on Thursday reported fourth-quarter profit of $77.7 million.
On a per-share basis, the Hartsville, South Carolina-based company said it had profit of 77 cents. Earnings, adjusted for one-time gains and costs, were 84 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.
The packaging maker posted revenue of $1.36 billion in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $1.37 billion.
For the year, the company reported profit of $313.6 million, or $3.10 per share. Revenue was reported as $5.39 billion.
For the current quarter ending in April, Sonoco expects its per-share earnings to range from 77 cents to 83 cents.
The company expects full-year earnings in the range of $3.47 to $3.57 per share.
Sonoco shares have risen 14 percent since the beginning of the year. The stock has increased 21 percent in the last 12 months.