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Last $41.33 USD
Change Today -0.04 / -0.10%
Volume 490.3K
SON On Other Exchanges
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As of 8:04 PM 07/30/15 All times are local (Market data is delayed by at least 15 minutes).

sonoco products co (SON) Key Developments

Sonoco Products Co. Provides Earnings Guidance for the Second and Six Months Ended June 28, 2015 and Third Quarter of 2015; Revises Earnings Guidance for the Year 2015

Sonoco Products Co. reported preliminary earnings results for the second quarter and year-to-date periods ended June 28, 2015. Base net income attributable to the company (base earnings) for second quarter 2015 is estimated to be $0.66 per diluted share. GAAP net income attributable to the company in the second quarter is estimated to be $62.8 million, or $0.61 per diluted share. Base earnings in the second quarter are estimated to be $67.9 million, or $0.66 per diluted share. Net sales for the second quarter are estimated to be $1.25 billion. Gross profit is estimated to be $241 million in the second quarter and gross profit as a percent of sales is estimated to be a better-than-expected 19.3%. Cash generated from operations in the second quarter was estimated to be $115 million. The 2015 second quarter effective tax rate on GAAP and base earnings is estimated to be 28.6% and 32.3%, respectively. The company previously provided second quarter base earnings guidance of $0.64 to $0.69 per diluted share. Cash generated from operations in the second quarter was estimated to be $115 million. Net capital expenditures were $45 million, during the quarter. Free cash flow for the quarter was estimated to be $35 million. Income before interest and income taxes is expected to be $97.373 million. Base income before interest and income taxes is expected to be $109.521 million. For the first six months of 2015, net sales are estimated to be $2.46 billion. Net income attributable to the company for the first six months of 2015 is estimated to be $147.7 million, or $1.44 per diluted share. Earnings in the first half of 2015 benefitted from after-tax gains of $21.1 million, or $0.20 per diluted share, from the reversal of reserves related to the Fox River environmental litigation; and $16.8 million, or $0.16 per diluted share, from the sale of two metal ends and closures plants; and $0.03 from the reversal of tax reserves. These positive items were partially offset by $15.6 million, or $0.15 per diluted share, in after-tax charges related to plant consolidations, global restructuring activities, and acquisition and other costs. As a result, base earnings for the first half of 2015 are estimated to be $122.0 million, or $1.19 per diluted share. Gross profit is estimated to be $461 million for the first half of 2015. For the first six months of 2015, cash generated from operations was estimated to be $173 million. Net capital expenditures are estimated to be $85 million, during the first half of 2015. Free cash flow for the first half of 2015 was estimated to be $21 million. Income before interest and income taxes is expected to be $221.458 million. Base income before interest and income taxes is expected to be $201.870 million. The company has updated full-year 2015 guidance to $2.48 to $2.58 per diluted share, which is lower than previous guidance due to higher than expected pension expense, a delay in achieving certain acquisition synergies and changing market conditions. The company's previous guidance for the year was $2.60 to $2.70 per diluted share. The company's 2015 guidance reflects an expectation of a 32% effective tax rate for the year. Free cash flow is expected to be approximately $140 million in 2015, unchanged from previous estimates. The company expects third quarter 2015 base earnings to be in the range of $0.65 to $0.70 per diluted share.

Sonoco Products Seeks Acquisitions

Sonoco Products Co. (NYSE:SON) is looking for acquisitions. Barry Saunders, Senior Vice President and Chief Financial Officer of Sonoco Products, said, "Our appetite for acquisition remains as it always has. We're focused on where we want to grow. We've set flexibles. We're looking at protective solutions for growth opportunities. As well for acquisition, we're looking at Brazil, Southeast Asia, and continuing to run the process inside out. We know what we want, so we are going and finding those companies as we did with Graffo is how we're driving that forward."

Sonoco Declares Quarterly Common Stock Dividend Payable on September 10, 2015

Sonoco declared a $0.35 per share quarterly common stock dividend, unchanged from the dividend paid in the previous quarter. The dividend will be paid on September 10 to shareholders of record as of July 14.

Sonoco Products Co. Presents at Deutsche Bank 6th Annual Global Industrials and Basic Materials Conference 2015, Jun-03-2015 03:00 PM

Sonoco Products Co. Presents at Deutsche Bank 6th Annual Global Industrials and Basic Materials Conference 2015, Jun-03-2015 03:00 PM. Venue: The Westin Chicago River North, 320 North Dearborn Street, Chicago, IL 60654, United States. Speakers: Barry L. Saunders, Chief Financial Officer, Principal Accounting Officer and Senior Vice President, M. Jack Sanders, Chief Executive Officer, President, Director and Member of Executive Committee, Roger P. Schrum, Vice President of Investor Relations & Corporate Affairs.

Sonoco Products Co. Presents at Macquarie's Triple M: Global Metals, Mining & Materials Conference 2015, Jun-10-2015

Sonoco Products Co. Presents at Macquarie's Triple M: Global Metals, Mining & Materials Conference 2015, Jun-10-2015 . Venue: Omni Berkshire Place, 21 East 52nd Street (Between Madison & 5th Avenues), New York, NY 10022, United States.

 

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Industry Analysis

SON

Industry Average

Valuation SON Industry Range
Price/Earnings 15.5x
Price/Sales 0.8x
Price/Book 2.8x
Price/Cash Flow 15.3x
TEV/Sales 0.5x
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