February 9, 2017 / 12:47 PM / 7 months ago

BRIEF-Sonoco reports Q4 earnings per share $1.04

Feb 9 (Reuters) - Sonoco Products Co -

* Sonoco reports fourth quarter and full-year 2016 results

* Q4 core earnings per share $0.62

* Q4 gaap earnings per share $1.04

* Q4 sales $1.14 billion versus I/B/E/S view $1.2 billion

* Q4 earnings per share view $0.63 -- Thomson Reuters I/B/E/S

* Sees Q1 2017 core earnings per share $0.55 to $0.63

* Full-Year 2017 base earnings has been revised to $2.66 to $2.76 per share, down $.02 from previous guidance issued in early december

* Full-Year 2017 base earnings has been revised to $2.66 to $2.76 per diluted share

* Q1 earnings per share view $0.67 -- Thomson Reuters I/B/E/S

* FY2017 earnings per share view $2.79 -- Thomson Reuters I/B/E/S

* Quarterly operating profit in our consumer packaging segment declined 15.4 percent from prior-year quarter

* Q4 base earnings hurt by divestiture, fewer days, negative manufacturing productivity, higher labor, maintenance and other operating costs

* Quarterly gross profit margins were essentially flat year-over-year, despite rising raw material costs

* Year-over-year improvement in gaap earnings in Q4 driven by net after-tax gain of $49.3 million on disposal of blowmolding operations

* Q4 2016 paper and industrial converted products sales were $412 million, down from $431 million in 2015 Source text for Eikon: Further company coverage:

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