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Sonoco Products Cuts FY19 Earnings Outlook - Quick Facts

While reporting financial results for the third quarter, packaging company Sonoco Products Co. (SON) on Thursday lowered its earnings guidance range for the full-year 2019 and provide earnings outlook for the fourth quarter.

For fiscal 2019, Sonoco now projects base earnings in a range of $3.50 to $3.54 per share, down from the previous guidance range of $3.52 to $3.62 per share. On average, 12 analysts polled by Thomson Reuters expect the company to report earnings of $3.55 per share for the year. Analysts' estimates typically exclude special items.

For the fourth quarter, Sonoco forecast base earnings in a range of $0.72 to $0.76 per share, compared to $0.84 per share in the year-ago period. The Street expects earnings of $0.84 per share for the quarter.

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