Sonoco Products Company (SON) announced that it commenced a strategic review of its Thermoformed & Flexible Packaging ("TFP") business. This move is in sync with SON's ongoing strategy to streamline its portfolio and focus on fewer bigger and core businesses to generate improved returns and lower debt levels. Overview of Sonoco's TFP Business The TFP business is part of Sonoco's Consumer Packaging segment. The segment's products consist of rigid packaging (paper, metal and plastic) and flexible packaging. I ...

HARTSVILLE, S.C., Sept. 04, 2024 (GLOBE NEWSWIRE) -- Sonoco Products Company ("Sonoco" or the "Company") (NYSE: SON), a global leader in high-value sustainable packaging, today announced that it has initiated a review of strategic alternatives for the Company's Thermoformed & Flexible Packaging ("TFP") business, a part of the Company's Consumer Packaging segment. Exploring alternatives for the TFP business is expected to accelerate Sonoco's portfolio simplification strategy, improve pro forma leverage and f ...

Group 1: Earnings Performance - Sonoco reported quarterly earnings of $1.28 per share, exceeding the Zacks Consensus Estimate of $1.26 per share, but down from $1.38 per share a year ago, representing an earnings surprise of 1.59% [1] - The company posted revenues of $1.62 billion for the quarter ended June 2024, missing the Zacks Consensus Estimate by 3.31% and down from $1.71 billion year-over-year [2] - Over the last four quarters, Sonoco has surpassed consensus EPS estimates three times, but has topped consensus revenue estimates only once [2] Group 2: Stock Performance and Outlook - Sonoco shares have declined approximately 4.8% since the beginning of the year, contrasting with the S&P 500's gain of 14% [3] - The company's current Zacks Rank is 5 (Strong Sell), indicating expectations of underperformance in the near future [6] - The consensus EPS estimate for the upcoming quarter is $1.43 on revenues of $1.73 billion, and for the current fiscal year, it is $5.08 on revenues of $6.7 billion [7] Group 3: Industry Context - The Containers - Paper and Packaging industry, to which Sonoco belongs, is currently ranked in the top 14% of over 250 Zacks industries, suggesting a favorable industry outlook [8] - Another company in the same industry, Amcor, is expected to report quarterly earnings of $0.21 per share, reflecting a year-over-year increase of 10.5% [9]

HARTSVILLE, S.C., July 31, 2024 (GLOBE NEWSWIRE) -- Sonoco Products Company ("Sonoco" or the "Company") (NYSE: SON), one of the largest sustainable global packaging companies, today reported financial results for its second quarter ended June 30, 2024. Summary: Achieved GAAP net income attributable to Sonoco of $91 million, Adjusted EBITDA of $262 million, diluted earnings per share of $0.92 and diluted Adjusted earnings per share of $1.28 Generated strong productivity of $51 million during the second quart ...

Core Insights - The Phase 1b study of SON-080 demonstrated its potential as a treatment for chemotherapy-induced peripheral neuropathy (CIPN), showing promising safety and tolerability profiles [12][8][5] - SON-080, a low dose recombinant human Interleukin-6 (rhIL-6), is being developed to address the significant unmet medical need for effective treatments for CIPN and diabetic peripheral neuropathy (DPN) [11][8] Group 1: Study Design and Results - The SB211 study was a double-blind, randomized, controlled trial conducted in Australia, evaluating the safety, pharmacokinetics (PK), pharmacodynamics (PD), and initial efficacy of SON-080 in patients with persistent CIPN [5][12] - A total of 9 patients were randomized into two SON-080 dose groups and a placebo group, with a treatment period of 12 weeks followed by an additional 12 weeks of follow-up [13] - Preliminary results indicated a trend toward improved quality of life and pain scores in patients receiving SON-080 compared to placebo, with benefits persisting after treatment cessation [3][12] Group 2: Safety and Tolerability - SON-080 was well-tolerated at both 20 µg and 60 µg doses, significantly lower than the maximum tolerated dose established in previous studies [2][12] - The most common treatment-related adverse event was mild injection site erythema, with fatigue reported more frequently at the higher dose [2][12] - No significant pro-inflammatory cytokine response was observed, and any increases in serum amyloid alpha were deemed benign [10][12] Group 3: Future Development and Market Potential - The company plans to advance SON-080 into a Phase 2 study focusing on its neuroprotective and neuro-regenerative effects in DPN, a condition with high prevalence and unmet medical need [8][12] - The management expressed intentions to seek partnerships to facilitate the commercialization of SON-080, highlighting the potential market opportunity in treating neuropathies associated with cancer and diabetes [8][9]

Core Viewpoint - The upcoming earnings report for Sonoco is anticipated to show a year-over-year decline in earnings despite higher revenues, with the actual results being crucial for stock price movement [2][20]. Company Summary: Sonoco - The consensus revenue estimate for Sonoco is $1.74 billion, reflecting a 2.2% increase from the previous year [3]. - The consensus EPS estimate has been revised down by 1.71% over the last 30 days, indicating a reassessment by analysts [3]. - Sonoco currently holds a Zacks Rank of 4, suggesting a less favorable outlook [6][17]. - The Most Accurate Estimate for Sonoco is the same as the Zacks Consensus Estimate, resulting in an Earnings ESP of 0%, complicating predictions for an earnings beat [16][17]. - In the last reported quarter, Sonoco exceeded EPS expectations by 3.70%, posting earnings of $1.12 per share against an expectation of $1.08 [7]. Industry Summary: AptarGroup - AptarGroup is expected to report earnings of $1.36 per share, indicating a year-over-year increase of 10.6%, with revenues projected at $925.42 million, up 3.3% from the previous year [21]. - The consensus EPS estimate for AptarGroup has remained unchanged, but a lower Most Accurate Estimate results in an Earnings ESP of -1.29% [9]. - AptarGroup has consistently beaten consensus EPS estimates in the last four quarters, although its current Zacks Rank is 3, indicating a hold position [22].

HARTSVILLE, S.C., July 17, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Sonoco (NYSE: SON) has declared a $0.52 per share quarterly common stock dividend. This dividend will be paid on September 10, 2024, to shareholders of record as of August 9, 2024. About Sonoco According to Howard Coker, President and Chief Executive Officer, this is the 397th consecutive quarter and 99th year, dating back to 1925, that the Company has paid dividends to shareholders, and is the 41st consecutive year the Company ha ...

HARTSVILLE, S.C., July 17, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Sonoco (NYSE: SON) has declared a $0.52 per share quarterly common stock dividend. This dividend will be paid on September 10, 2024, to shareholders of record as of August 9, 2024. According to Howard Coker, President and Chief Executive Officer, this is the 397th consecutive quarter and 99th year, dating back to 1925, that the Company has paid dividends to shareholders, and is the 41st consecutive year the Company has increased i ...

Standalone Sonoco brazzo/iStock via Getty Images Sonoco was founded in 1899 in South Carolina and, through several innovations, new products and new processes, had grown to a billion-dollar company by the late 1980s. Inventions of the Sonotube, UltraSeal, Smartseal and all paper Pringles packaging meant that the company grew to a $7 billion revenue base. The sustainable packaging manufacturer employs about 22,000 workers across 300 facilities, with operations seen in 33 countries. The business is largely a ...

Sonoco Products Company (SON) has announced that it has agreed to buy Eviosys, Europe's leading manufacturer of food cans, ends and closures, from KPS Capital Partners for approximately $3.9 billion. This buyout will strengthen SON's metal core metal packaging business and global presence while enhancing sustainability efforts. The company has identified more than $100 million of synergies that are expected to be realized within two years of closing. Eviosys: A Strategic Fit The addition of Eviosys' highly ...