Sonoco Earnings Surpass Estimates in Q3, Sales Decrease 2% Y/Y

Zacks11-05

Sonoco Products Company SON reported adjusted earnings per share (EPS) of $1.49 in third-quarter 2024, beating the Zacks Consensus Estimate of $1.44. The figure was within the company’s guidance of $...

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The figure was within the company’s guidance of $...</p>\n\n<a href=\"https://finance.yahoo.com/news/sonoco-earnings-surpass-estimates-q3-172800304.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sonoco Earnings Surpass Estimates in Q3, Sales Decrease 2% Y/Y</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSonoco Earnings Surpass Estimates in Q3, Sales Decrease 2% Y/Y\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-05 01:28 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/sonoco-earnings-surpass-estimates-q3-172800304.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Sonoco Products Company SON reported adjusted earnings per share (EPS) of $1.49 in third-quarter 2024, beating the Zacks Consensus Estimate of $1.44. The figure was within the company’s guidance of $...</p>\n\n<a href=\"https://finance.yahoo.com/news/sonoco-earnings-surpass-estimates-q3-172800304.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SON","symbol_name":"Sonoco Products Co","start_time":0,"source_url":"https://finance.yahoo.com/news/sonoco-earnings-surpass-estimates-q3-172800304.html","article_id":"2481558832","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/U45CrReyOBmRPBdkCWGGVw--~B/aD00MTM7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/742c2718f9ff3a297d02254acce5007b"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481558832","pubTimestamp":1730741280,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Sonoco Products Company SON reported adjusted earnings per share  of $1.49 in third-quarter 2024, beating the Zacks Consensus Estimate of $1.44. The figure was within the company’s guidance of $1.40-$1.60. The bottom line improved 2% from the prior-year quarter.Including one-time items, the company reported an EPS of 51 cents compared with the year-ago quarter’s $1.32.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Sonoco’s net sales were $1.68 billion, which missed the Zacks Consensus Estimate of $1.70 million. The top line fell 2% year over year, hurt by the divestiture of Protective Solutions and the thermoformed food packaging plant closure.Sonoco Products Company Price, Consensus and EPS Surprise. Sonoco Products Company price-consensus-eps-surprise-chart | Sonoco Products Company Quote. Sonoco projects the fourth-quarter 2023 adjusted EPS between $1.15 and $1.35.The company expects an adjusted EPS of $5.05-$5.25 for 2024, updated from the prior mentioned $5","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"SON":"Sonoco Products Co"},"translate_title":"Sonoco第三季度盈利超出预期，销售额同比下降2%","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SON":1},"content_text":"Sonoco Products Company SON reported adjusted earnings per share (EPS) of $1.49 in third-quarter 2024, beating the Zacks Consensus Estimate of $1.44. The figure was within the company’s guidance of $1.40-$1.60. The bottom line improved 2% from the prior-year quarter.Including one-time items, the company reported an EPS of 51 cents compared with the year-ago quarter’s $1.32.\nFind the latest EPS estimates and surprises on Zacks Earnings Calendar.Sonoco’s net sales were $1.68 billion, which missed the Zacks Consensus Estimate of $1.70 million. The top line fell 2% year over year, hurt by the divestiture of Protective Solutions and the thermoformed food packaging plant closure.\n\nSonoco Products Company Price, Consensus and EPS Surprise\n  \nSonoco Products Company price-consensus-eps-surprise-chart | Sonoco Products Company Quote\n\nSonoco’s Q3 Operational Update\nThe cost of sales was $1.32 billion, 2.2% lower than the year-earlier quarter. The gross profit in the reported quarter totaled $359 million, down 1.4% year over year. The gross margin was 21.4% compared with the year-ago quarter’s 21.3%.Selling, general and administrative expenses amounted to $191 million, up 4.4% year over year.Adjusted operating income was $211 million in the reported quarter compared with the prior-year quarter’s $213 million. The operating margin was 12.6%, down from the year-ago quarter’s 12.5%.\nSON’s Q3 Segmental Performance\nThe Consumer Packaging segment’s net sales were fairly flat year over year at $984 million. The impacts of lower pricing were partially offset by year-over-year volume growth in metal aerosol cans and flexible packaging. Operating profit amounted to $123 million, up 5% from the prior-year quarter.Net sales in the Industrial Paper Packaging segment were $585 million, reflecting a year-over-year rise of 1% due to higher selling prices. Operating profit totaled $70 million, reflecting a 6% year-over-year fall. The gains were partially offset by continued pressure from cost impacts.Sales for the All Other segment, which comprises protective, healthcare, retail and industrial plastics units, were $107 million, down 26% year over year. Operating profit for the segment totaled $17 million compared with the year-ago quarter’s $21 million.\nSonoco’s Q3 Cash Flow & Balance Sheet Updates\nSON reported cash and cash equivalents of $1.93 billion at the end of the third quarter of 2024 compared with $0.15 billion at the end of 2023. The company generated cash flow from operating activities of around $438 million in the first nine months of 2024 compared with $617 million in the prior-year period.As of Sept. 29, 2024, total debt was $4.8 billion, up $1.7 billion from Dec. 31, 2023.\nSON’s Q4 & 2024 Guidance\nSonoco projects the fourth-quarter 2023 adjusted EPS between $1.15 and $1.35.The company expects an adjusted EPS of $5.05-$5.25 for 2024, updated from the prior mentioned $5.00-$5.30. Adjusted EBITDA is expected between $1.05 billion and $1.09 billion. The operating cash flow for the year is expected between $650 million and $750 million.\nSonoco’s Price Performance\nSON shares have lost 3.9% in the past year against the industry’s growth of 27.2%.\nImage Source: Zacks Investment Research\n \nSON’s Zacks Rank\nThe company currently has a Zacks Rank #4 (Sell).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nSonoco’s Peer Performances in Q3\nPackaging Corporation of America PKG reported an adjusted EPS of $2.65 in the third quarter of 2024, beating the Zacks Consensus Estimate of earnings of $2.48. The bottom line was higher than the company’s earnings guidance of $2.45 per share and grew 29% year over year. The upside was driven by higher volume in both segments, and increased prices and mix in the Packaging segment, partially offset by lower prices and mix in the Paper segment.Sales in the third quarter rose 12.6% year over year to $2.18 billion due to higher volumes. The top line beat the Zacks Consensus Estimate of $2.09 billion.AptarGroup, Inc. ATR posted third-quarter 2024 adjusted EPS of $1.49, beating the Zacks Consensus Estimate of $1.43. The bottom line increased 6% year over year from $1.40 (including comparable exchange rates).Total sales grew 1.8% year over year to $909 million in the reported quarter. However, the reported figure missed the Zacks Consensus Estimate of $932 million. Core sales, excluding currency and acquisition effects, improved 2% year over year due to strong performances in the pharma and closures segments. We expected core sales to rise 4.7% in the quarter.Amcor Plc AMCR reported a first-quarter fiscal 2025 (ended Sept. 30, 2024) adjusted EPS of 16 cents, which met the Zacks Consensus Estimate. The bottom line grew 4% from the year-ago quarter.Total sales fell 2.6% year over year to $3.35 billion in the reported quarter. The downside was led by a 1% unfavorable impact of foreign exchange and a 1% impact of pass-through of lower raw material costs. The top line missed the Zacks Consensus Estimate of $3.57 billion.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nSonoco Products Company (SON) : Free Stock Analysis Report\nPackaging Corporation of America (PKG) : Free Stock Analysis Report\nAptarGroup, Inc. (ATR) : Free Stock Analysis Report\nAmcor PLC (AMCR) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2481558832"}