Sonoco Products Q3 Profit Increases, But Misses Estimates

(RTTNews) - Sonoco Products (SON) announced a profit for its third quarter that Increased from the same period last year but missed the Street estimates.

The company's bottom line totaled $122.91 million, or $1.23 per share. This compares with $50.92 million, or $0.51 per share, last year.

Excluding items, Sonoco Products reported adjusted earnings of $191.17 million or $1.92 per share for the period.

Analysts on average had expected the company to earn $1.93 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 57.4% to $2.131 billion from $1.354 billion last year.

Sonoco Products earnings at a glance (GAAP) :

-Earnings: $122.91 Mln. vs. $50.92 Mln. last year. -EPS: $1.23 vs. $0.51 last year. -Revenue: $2.131 Bln vs. $1.354 Bln last year.

-Guidance: Full year EPS guidance: $5.65 - $5.75