Sonoco Products Q1 Profit Increases, beats estimates

(RTTNews) - Sonoco Products (SON) announced a profit for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $148 million, or $1.50 per share. This compares with $115 million, or $1.17 per share, in last year's first quarter.

Excluding items, Sonoco Products reported adjusted earnings of $138 million or $1.40 per share for the period.

Analysts on average had expected the company to earn $1.32 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.3% to $1.73 billion from $1.77 billion last year.

Sonoco Products earnings at a glance (GAAP) :

-Earnings (Q1): $148 Mln. vs. $115 Mln. last year. -EPS (Q1): $1.50 vs. $1.17 last year. -Analyst Estimate: $1.32 -Revenue (Q1): $1.73 Bln vs. $1.77 Bln last year.

-Guidance: Next quarter EPS guidance: $1.45 to $1.55 Full year EPS guidance: $5.70 to $6.00