Sonoco Products Boosts FY22 Outlook As Q2 Adj. EPS Tops Estimates

RTTNews | 1124 dias atrás
Sonoco Products Boosts FY22 Outlook As Q2 Adj. EPS Tops Estimates

(RTTNews) - Packaging company Sonoco Products Co. (SON) reported Thursday that second-quarter net income attributable to the company was $131.67 million or $1.33 per share, compared to a net loss of $334.07 million or $3.34 per share in the year-ago quarter.

Excluding items, base earnings for the quarter were $1.76 per share, compared to $0.93 per share in the prior-year quarter.

Net sales for the quarter grew 38 percent to $1.91 billion from $1.38 billion in the same quarter last year.

On average, seven analysts polled by Thomson Reuters expected the company to report earnings of $1.67 per share on net sales of $1.91 billion for the quarter. Analysts' estimates typically exclude special items.

Looking ahead, Sonoco expects base earnings for the third quarter in a range of $1.35 to $1.45 per share.

For fiscal 2022, the company now projects base earnings in a range of $6.20 to $6.30 per share, up from the prior guidance range of $5.25 to $5.45 per share.

The Street is looking for earnings of $1.67 per share for the quarter and $5.71 per share for fiscal 2022.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

Etiquetas: SON
read more
Sensex, Nifty Rally On GST Reforms Push

Sensex, Nifty Rally On GST Reforms Push

Indian shares rose sharply on Monday after Prime Minister Narendra Modi unveiled plans of the biggest tax overhaul since 2017 over the weekend, boosting stocks across sectors like auto, financial, real estate, consumer and cement.
RTTNews | 11 minutos atrás
Eurozone Trade Surplus Declines Sharply In June

Eurozone Trade Surplus Declines Sharply In June

The euro area trade surplus declined sharply in June as exports remained weak amid a rebound in imports, official data revealed on Monday. The trade balance registered a surplus of EUR 7.0 billion compared to May's surplus of EUR 16.5 billion, Eurostat reported. Compared to last year, the surplus contracted by EUR 13.7 billion from EUR 20.7 billion.
RTTNews | 17 minutos atrás
Thai Economic Growth Slows In Q2

Thai Economic Growth Slows In Q2

Thailand's economy grew at a softer pace in the second quarter largely due to the slowdown in tourist arrivals, official data revealed on Monday. Gross domestic product expanded 2.8 percent year-on-year in the second quarter, slower than the 3.2 percent growth posted in the first quarter, the National Economic and Social Development Council said.
RTTNews | 1 h 8 min atrás
Asian Shares Rise As Alaska Talks Show Progress

Asian Shares Rise As Alaska Talks Show Progress

Asian stocks rose broadly on Monday as investors reacted to ongoing U.S.-Russia talks on Ukraine and looked ahead to upcoming Federal Reserve Jerome Powell's Jackson Hole speech for clues on whether the U.S. central bank will cut interest rates next month. The summit between U.S. President Donald Trump and Russian President Putin in Alaska yielded no concrete agreements, but Russia agreed to "game-changing" security guarantees for Ukraine, helping inject new momentum into stalled efforts to end the Russia-Ukraine war.
RTTNews | 1 h 50 min atrás
Yen Falls Amid Risk-on Mood

Yen Falls Amid Risk-on Mood

The Japanese yen weakened against other major currencies in the Asian session on Monday as Asian stock markets traded higher, amid expectations of the three-year-plus war between Russia and Ukraine ending soon, with U.S. President Donald Trump saying he and Russian President Putin discussed land transfers and security guarantees for Ukraine and had "largely agreed".
RTTNews | 4 h 36 min atrás
Yen Falls Against Majors

Yen Falls Against Majors

The Japanese yen weakened against other major currencies in the Asian session on Monday.
RTTNews | 4 h 46 min atrás