Wall Street is expecting higher profit for Sonoco Products Company when the company reports its third quarter results on Thursday, October 16, 2014. The consensus estimate is calling for profit of 68 cents a share, a rise from 63 cents per share a year ago.
For the fiscal year, analysts are projecting earnings of $2.48 per share. Revenue is projected to be 3% above the year-earlier total of $1.23 billion at $1.26 billion for the quarter. For the year, revenue is expected to come in at $4.95 billion.
Over the last four quarters, income has increased 10% on average year-over-year. In the fourth quarter, the company saw its greatest gain in income, when it increased 28% from the year-earlier quarter.
The company has seen improved revenue in the last two quarters. In the second quarter, revenue increased 2% to $1.25 billion from the year earlier quarter. In the first quarter, the figure rose 1%.
Sonoco Products is a manufacturer of industrial and consumer packaging products and a provider of packaging services. Crown Holdings, Inc., also in the containers and packaging industry, will report earnings on Thursday, October 16, 2014. Analysts are expecting earnings of $1.22 per share for Crown Holdings, up 8% from last year's earnings of $1.13 per share. Other companies in the containers and packaging industry with upcoming earnings release dates include: Silgan Holdings, Bemis and Sealed Air.
Earnings estimates provided by Zacks.
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