Sonoco Products Q1 Profit Decreases, Misses Estimates

(RTTNews) - Sonoco Products (SON) revealed a profit for first quarter that decreased from last year and missed the Street estimates.

The company's earnings came in at $54 million, or $0.55 per share. This compares with $65 million, or $0.66 per share, last year.

Excluding items, Sonoco Products reported adjusted earnings of $137 million or $1.38 per share for the period.

Analysts on average had expected the company to earn $1.41 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 30.6% to $1.709 billion from $1.309 billion last year.

Sonoco Products earnings at a glance (GAAP) :

-Earnings: $54 Mln. vs. $65 Mln. last year. -EPS: $0.55 vs. $0.66 last year. -Revenue: $1.709 Bln vs. $1.309 Bln last year.