Sonoco (SON) Beats Q2 Earnings Estimates

Group 1: Earnings Performance - Sonoco reported quarterly earnings of $1.28 per share, exceeding the Zacks Consensus Estimate of $1.26 per share, but down from $1.38 per share a year ago, representing an earnings surprise of 1.59% [1] - The company posted revenues of $1.62 billion for the quarter ended June 2024, missing the Zacks Consensus Estimate by 3.31% and down from $1.71 billion year-over-year [2] - Over the last four quarters, Sonoco has surpassed consensus EPS estimates three times, but has topped consensus revenue estimates only once [2] Group 2: Stock Performance and Outlook - Sonoco shares have declined approximately 4.8% since the beginning of the year, contrasting with the S&P 500's gain of 14% [3] - The company's current Zacks Rank is 5 (Strong Sell), indicating expectations of underperformance in the near future [6] - The consensus EPS estimate for the upcoming quarter is $1.43 on revenues of $1.73 billion, and for the current fiscal year, it is $5.08 on revenues of $6.7 billion [7] Group 3: Industry Context - The Containers - Paper and Packaging industry, to which Sonoco belongs, is currently ranked in the top 14% of over 250 Zacks industries, suggesting a favorable industry outlook [8] - Another company in the same industry, Amcor, is expected to report quarterly earnings of $0.21 per share, reflecting a year-over-year increase of 10.5% [9]