2023-07-31 23:23:25 ET
- Sonoco Products press release ( NYSE: SON ): Q2 Non-GAAP EPS of $1.38 misses by $0.08 .
- Revenue of $1.71B (-10.5% Y/Y) misses by $150M .
- Consumer net sales were $924 million as volumes were generally impacted by destocking trends among our customers and inflationary pricing pressures within retail.
- Industrial net sales decreased 20% to $585 million due to volume and mix weakness in global demand for paper and converted paper products.
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Sonoco Products Non-GAAP EPS of $1.38 misses by $0.08, revenue of $1.71B misses by $150M