Benzinga | Jul 16, 2020 07:27AM EDT

Recap: Sonoco Products Q2 Earnings

Shares of Sonoco Products (NYSE:SON) moved higher by 0.1% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share were down 16.84% over the past year to $0.79, which beat the estimate of $0.78.

Revenue of $1,245,000,000 decreased by 8.46% from the same period last year, which missed the estimate of $1,320,000,000.

Guidance

Sonoco projects Q3 base EPS to be in a range of $0.73 to $0.83.

Price Action

Company's 52-week high was at $65.11

Company's 52-week low was at $37.30

Price action over last quarter: Up 7.48%

Company Overview

Over its 100-year-plus history, Sonoco Products has steadily assembled a diverse portfolio of industrial and consumer packaging product offerings such as flexible and rigid plastics, reels and spools, pallets, and composite cans. The company serves a variety of consumer and industrial end markets throughout North America. Sonoco has raised its dividend each year for more than 30 years.