Sonoco Products (SON) announced a profit for third quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $51 million, or $0.51 per share. This compares with $131 million, or $1.32 per share, in last year's third quarter.

Excluding items, Sonoco Products reported adjusted earnings of $148 million or $1.49 per share for the period.

Analysts on average had expected the company to earn $1.45 per share. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.0% to $1.676 billion from $1.710 billion last year.