Operating problems at three mills led Sonoco to lower 3Q guidance

摘要

Unscheduled downtime at three Sonoco recycled paperboard operations led to a 19% decline in its base earnings third quarter guidance from SO.62-0.66 to $0.51-0.53, the company said. The problems caused 171 days of mill downtime compared with 100 days planned for the quarter. The company also reported excess costs and lower than anticipated volumes in many of its consumer and industrial packaging businesses. Among the operational issues, a worker that died at the company's mill complex in Hartsville, SC, on Sept. 3 led to a shutdown of the three mills and seven paper machines at Hartsville, one PM for a full week, a company official told PPl Pulp & Paper Week.