Sonoco Products Company said fiscal Q2 sales rose 2.9% to $1.24 billion from the year-ago period and topped the CapIQ mean for $1.22 billion. GAAP EPS in the quarter ended July 2 were $0.43, up from $0.55 a year ago, while base earnings were $0.71 per share. Estimates were for $0.70.
Q3 base earnings are seen between $0.71 to $0.77 and FY base earnings between $2.73 to $2.80. The Street is at $0.77 for Q3 and $2.76 for the year.