HARTSVILLE, S.C. (AP) — HARTSVILLE, S.C. (AP) — Sonoco Products Co. (SON) on Tuesday reported first-quarter earnings of $54.4 million.
On a per-share basis, the Hartsville, South Carolina-based company said it had profit of 55 cents. Earnings, adjusted for one-time gains and costs, were $1.38 per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.39 per share.
The packaging maker posted revenue of $1.71 billion in the period, also missing Street forecasts. Four analysts surveyed by Zacks expected $2.11 billion.
Sonoco expects full-year earnings in the range of $6 to $6.20 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SON at https://www.zacks.com/ap/SON
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