Sonoco Announced Updated First Quarter 2022 Financial Guidance

SEATTLE (Scrap Monster): Hartsville, S.C.-based Sonoco announced updated first-quarter 2022 earnings guidance.

Considering year-to-date results and an updated forecast for the remainder of the first quarter, Sonoco expects first-quarter 2022 earnings to be in a range of $0.80 to $0.90 per diluted share. The company expects first-quarter 2022 base earnings to be in a range of $1.70 and $1.80 per diluted share, significantly higher by approximately 35% from the previously communicated guidance range of $1.25 and $1.35 per diluted share, said the company press release.

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Sonoco expects operating results to be significantly better than previously expected, mainly on account of strong price and cost recovery across most of its business. The operating results will also benefit from recent acquisition of Ball Metalpack as well as stronger than expected demand, especially from Consumer Packaging segment.

The company will report its first-quarter financial results before the NYSE opens for trading on Thursday, April 21, 2022. A conference call and webcast to review the results will be host at 11 a.m. ET on that day. A telephonic replay of the call will be available starting at 2 p.m. ET on Thursday, April 21, 2022 through May 1, 2022.