Sonoco Products Q3 Profit Decreases, But Beats Estimates

(RTTNews) - Sonoco Products (SON) announced a profit for third quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $51 million, or $0.51 per share. This compares with $131 million, or $1.32 per share, in last year's third quarter.

Excluding items, Sonoco Products reported adjusted earnings of $148 million or $1.49 per share for the period.

Analysts on average had expected the company to earn $1.45 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.0% to $1.676 billion from $1.710 billion last year.

Sonoco Products earnings at a glance (GAAP) :

-Earnings (Q3): $51 Mln. vs. $131 Mln. last year. -EPS (Q3): $0.51 vs. $1.32 last year. -Revenue (Q3): $1.676 Bln vs. $1.710 Bln last year.