Sonoco (SON) Tops Q3 EPS by 4c, Guides Q4 In-Line

Sonoco (NYSE: SON) reported Q3 EPS of $0.72, $0.04 better than the analyst estimate of $0.68. Revenue for the quarter came in at $1.26 billion versus the consensus estimate of $1.26 billion.

Sonoco sees Q4 2014 EPS of $0.59-$0.64, versus the consensus of $0.64.

Commenting on the Company's third quarter results, President and Chief Executive Officer Jack Sanders said, "Our strategy to grow and optimize our balanced portfolio of businesses continued to gain traction in the quarter as consolidated sales and base earnings reached record levels when including the benefits from a legal settlement and lower than anticipated taxes. Excluding those favorable items, our businesses performed relatively well in the quarter as they benefitted from a positive price/cost relationship, modest improvements in manufacturing productivity and lower pension expense. Volume across most of our businesses was higher in the quarter, but earnings were partially impacted by a negative mix of business along with higher labor, maintenance and other operating costs."

For earnings history and earnings-related data on Sonoco (SON) click here.

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