Sonoco raises Q1 guidance

By Davit Kirakosyan

Sonoco Products (NYSE:) provided updated Q1/23 earnings guidance, expecting base (adjusted) EPS in the range of $1.30-$1.40, which is above the company’s previous guidance range of $1.15-$1.25.

Management expects improved results beyond previous projections, driven by increased productivity, lower-than-expected input costs, and higher demand than forecasted in certain products and end markets.