Thu, Jul. 16, 11:09 AM
- Sonoco Products (SON -4.4%) is sharply lower after reporting Q2 earnings and revenues that failed to meet Wall Street expectations.
- SON issues downside guidance for Q3, seeing EPS of $0.65-$0.70 vs. $0.72 analyst consensus estimate, and lowers full-year 2015 guidance, seeing EPS of $2.48-$2.58 vs. an earlier outlook of $2.60-$2.70 and below $2.64 consensus.
- SON also says it is reviewing financial results for a contract packaging center in Mexico due to the discovery of overstatements to prior periods earnings, which likely will result in changes to financial statements dating back to Q1 2012.
Sep. 10, 2012, 6:05 PMSonoco Products (SON) -3.3% AH after lowering Q3 EPS guidance, primarily due to operating problems at some North American uncoated recycled paperboard mills which have led to unscheduled downtime and related excess costs. SON also withdraws full-year guidance, citing lower than expected volumes in many of its consumer and industrial packaging businesses. | Sep. 10, 2012, 6:05 PM | 1 Comment
Jul. 24, 2012, 10:24 AMSonoco Products (SON +1.8%) is upgraded to Neutral from Sell at Goldman with a new $33 price target. The firm expects volume declines in SON’s consumer (composite cans) and industrial (tubes/cores) segments will moderate in H2 given easing Y/Y comparisons, SON’s EPS profile has proven more resilient than forecast, and shares are now fairly valued. | Jul. 24, 2012, 10:24 AM | Comment!
Jan. 20, 2012, 12:57 PMSonoco Products (SON -5.1%) drops after saying its Q4 and FY11 profit will likely miss estimates, due in part to higher taxes. For Q4, the company now expects earnings of $0.45 - $0.47 per share, below previous estimates of $0.59 - $0.63. For the full year, the company sees $2.28 - $2.30, below its prior guidance for earnings of $2.41 to $2.46. | Jan. 20, 2012, 12:57 PM | Comment!
Dec. 2, 2011, 2:56 PMSonoco Products (SON +0.9%) gives an upbeat sales forecast for next year, easily exceeding analyst forecasts on higher demand and a boost from its recently completed acquisition of protective-packaging provider Tegrant Corp. The company expects sales to grow to roughly $5B in 2012, well ahead of analysts' estimates for $4.6B, while FY12 earnings are anticipated to be in the range of $2.47 - $ 2.57 per share. | Dec. 2, 2011, 2:56 PM | Comment!
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Sonoco Products Co provides consumer packaging, industrial products, protective packaging and packaging supply chain services. The Company's products include flexible packaging, high density film products, and folding cartons.
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