Sonoco Updates Guidance

(RTTNews) - Sonoco (SON) has narrowed its full-year guidance to the upper-half of the previously disclosed full-year guidance range. The company now expects full-year base earnings per diluted share to be in a range of $3.50 to $3.60. The company previously provided full-year 2021 guidance in the range of $3.40 to $3.60. Sonoco expects second quarter base earnings per share to be in a range of $0.82 to $0.88.

Adjusted to exclude items, first quarter base earnings per share was $0.90, compared to $0.94, last year. On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $0.85, for the quarter. Analysts' estimates typically exclude special items. GAAP earnings per share were $0.71, compared to $0.80.

First quarter net sales were $1.35 billion, up 3.8 percent from $1.30 billion, prior year. Analysts expected revenue of $1.33 billion, for the quarter.