Sonoco Prods Q3 2023 Adj EPS $1.46 Beats $1.23 Estimate, Sales $1.71B Miss $1.74B Estimate
Portfolio Pulse from totan@benzinga.com
Sonoco Prods (NYSE:SON) reported Q3 2023 earnings of $1.46 per share, beating the analyst consensus estimate of $1.23 by 18.7%. However, the company's quarterly sales of $1.71 billion missed the analyst consensus estimate of $1.74 billion by 1.72%. Compared to the same period last year, earnings decreased by 8.75% and sales decreased by 9.52%.
October 31, 2023 | 9:04 pm
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Sonoco Prods reported better-than-expected Q3 2023 earnings but missed on sales. Earnings and sales both decreased compared to the same period last year.
While Sonoco Prods beat earnings estimates, which could have a positive impact on the stock, it missed on sales and reported a decrease in both earnings and sales compared to the same period last year. This mixed report could lead to neutral short-term price movement.
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