date:Sep 13, 2012
Sonoco has lowered its earnings guidance for the third quarter of 2012 due to unscheduled downtime and lower than anticipated volumes.
Unrelated operating problems at three North American uncoated recycled paperboard mills resulted in more down days than expected and excess costs.
The firm also attributed the outlook reduction to lower than expected volumes in many of its consumer and industrial packaging units.
The company expects Q3 2012 base earnings per diluted share to be $.51 to $.53,