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Sonoco Narrows 2018 Base Earnings Guidance - Quick Facts

Sonoco (SON) announced full-year 2018 base earnings per diluted share are expected to be in a range of $3.28 to $3.34, which narrows the previous estimate of $3.27 to $3.37 per diluted share. The company anticipates additional lost production and higher supply chain costs associated with Hurricane Florence could impact base fourth-quarter results by up to $0.03 per diluted share; of which, $0.02 per diluted share is included in the fourth-quarter base earnings guidance.

Full-year 2018 operating cash flow and free cash flow guidance has been raised to a range of $580 million to $600 million and $230 million to $250 million, respectively. Previous operating cash flow and free cash flow guidance was a range of $570 million to $590 million and $190 million to $210 million, respectively.

Sonoco expects fourth-quarter 2018 base earnings to be in the range of $0.75 to $0.81 per diluted share. Base earnings in the fourth quarter of 2017 were $0.72 per diluted share.

For the third-quarter, adjusted base earnings were $87.4 million, or $0.86 per diluted share, compared with $76.6 million, or $0.76 per diluted share, in 2017. Net sales were $1.36 billion, up 3.0 percent from $1.32 billion in 2017.

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