Sonoco Products Q2 Profit Increases, But Misses Estimates

(RTTNews) - Sonoco Products (SON) reported earnings for its second quarter that Increased from the same period last year but missed the Street estimates.

The company's bottom line totaled $493 million, or $4.96 per share. This compares with $91 million, or $0.92 per share, last year.

Excluding items, Sonoco Products reported adjusted earnings of $136 million or $1.37 per share for the period.

Analysts on average had expected the company to earn $1.49 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 49.3% to $1.910 billion from $1.279 billion last year.

Sonoco Products earnings at a glance (GAAP) :

-Earnings: $493 Mln. vs. $91 Mln. last year. -EPS: $4.96 vs. $0.92 last year. -Revenue: $1.910 Bln vs. $1.279 Bln last year.

-Guidance: Full year EPS guidance: $6.00