Sonoco Prods Q3 2024 Adj. EPS $1.49 Beats $1.45 Estimate, Sales $1.675B Miss $1.719B Estimate
Portfolio Pulse from Benzinga Newsdesk
Sonoco Products reported Q3 2024 earnings per share of $1.49, surpassing the analyst estimate of $1.45. However, their sales of $1.675 billion fell short of the expected $1.719 billion, marking a 2.05% decrease from the previous year.
October 31, 2024 | 8:11 pm
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Sonoco Products' Q3 2024 earnings per share exceeded expectations, but sales fell short, indicating mixed financial performance.
The earnings per share (EPS) beat suggests operational efficiency or cost management, which is positive. However, the sales miss and year-over-year decline indicate potential challenges in revenue generation. This mixed result may lead to neutral short-term stock movement as investors weigh the positive EPS against the negative sales performance.
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