Sonoco Prods Q1 2024 Adj EPS $1.12 Beats $1.05 Estimate, Sales $1.638B Miss $1.675B Estimate
Portfolio Pulse from Benzinga Newsdesk
Sonoco Products Company (SON) reported Q1 2024 adjusted EPS of $1.12, surpassing the $1.05 estimate, but its sales of $1.638B fell short of the $1.675B estimate. This represents a 20% decrease in earnings and a 5.32% decrease in sales from the same period last year.
April 30, 2024 | 8:46 pm
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Sonoco Products Company reported a mixed Q1 2024 performance with earnings exceeding expectations but sales missing estimates, indicating a year-over-year decline in both metrics.
The mixed results with an earnings beat but a sales miss could lead to neutral market sentiment in the short term. The decrease in both earnings and sales year-over-year might concern investors, but the earnings beat could offset some negative sentiment.
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