Sonoco Products (NYSE: SON ) reported earnings on April 18. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Sonoco Products missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue dropped slightly. Non-GAAP earnings per share dropped. GAAP earnings per share grew.
Gross margins shrank, operating margins dropped, net margins increased.
Sonoco Products logged revenue of $1.18 billion. The 11 analysts polled by S&P Capital IQ expected revenue of $1.21 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.50. The 13 earnings estimates compiled by S&P Capital IQ forecast $0.53 per share. Non-GAAP EPS of $0.50 for Q1 were 3.8% lower than the prior-year quarter's $0.52 per share. GAAP EPS of $0.47 for Q1 were 12% higher than the prior-year quarter's $0.42 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 17.4%, 50 basis points worse than the prior-year quarter. Operating margin was 7.3%, 50 basis points worse than the prior-year quarter. Net margin was 4.1%, 50 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $1.22 billion. On the bottom line, the average EPS estimate is $0.58.
Next year's average estimate for revenue is $4.86 billion. The average EPS estimate is $2.29.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 121 members out of 131 rating the stock outperform, and 10 members rating it underperform. Among 45 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 44 give Sonoco Products a green thumbs-up, and one give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Sonoco Products is hold, with an average price target of $33.09.
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