logo
Plus   Neg
Share
Email

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Auto giant General Motors' (GM) Chevrolet unveiled its new stunning Corvette Stingray 2020. Stingray 2020, the eighth generation of the Chevrolet Corvette, has received the biggest change since its initial launch in 1953. The new 2020 Corvette is a mid-engine vehicle, which is its engine is behind... Amazon.com's Prime Day has brought a smile to the face of some photographers who may have grabbed their best deals of their lives. The e-commerce giant accidentally discounted a wide range of premium camera gear for Prime Day earlier this week, which may have proved costly for it. Thanks to a pricing error, some lucky customers were able to buy premium camera gear bundles for below $100. Women's clothing chain Dress Barn Inc. said it started store-closing or inventory clearance event sales at the 53 stores it plans to close by the end of August. The company expects to close all its stories by end of 2019. It also released a list of the nine stores closing in July and the stores closing in August. Dressbarn has hired Gordon Brothers Retail Partners to help with the store closures.
Follow RTT