>>> Sonoco Products reports EPS in-line, revs in-line; guides Q1 EPS below conse

Sonoco Products reports EPS in-line, revs in-line; guides Q1 EPS below consensus; guides FY14 EPS in-line

Reports Q4 (Dec) earnings of $0.58 per share, excl items, in-line with the Capital IQ Consensus Estimate consensus of $0.58; revenues rose 3.3% year/year to $1.21 bln vs the $1.21 bln consensus.

Co issues downside guidance for Q1, sees EPS of $0.50-0.54 vs. $0.57 Capital IQ Consensus Estimate.
Co issues in-line guidance for FY14, sees EPS of $2.43-2.53 vs. $2.52 Capital IQ Consensus Estimate.

The Co's revised target guidance reflects a net $.21 per share, or 9.1% improvement over 2013 base earnings driven by expected modest growth in volume/mix, lower pension expense, productivity improvements and a slightly positive price/cost relationship. Partially offsetting these improvements are expected higher depreciation and other operating costs and a higher effective tax rate. Included in the above guidance is the Co's previously announced plan to repurchase ~2 million shares of common stock in 2014, which, if fully implemented, would add ~$.02 to earnings per diluted share for the year.