A month has gone by since the last earnings report for Sonoco (SON) . Shares have added about 4.4% in that time frame, underperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Sonoco due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. Sonoco Earnings Top Estimates in Q1, Lowers '24 View Sonoco ...

About Sonoco Contact: Lisa Weeks lisa.weeks@sonoco.com Technical support is in high demand, particularly for shelf-life testing and package performance. Sonoco specifically offers expertise in Package Performance & Integrity Testing, Real-time Shelf-Life Testing, Electrochemical Corrosion Testing, among others. Additionally, Sonoco offers customized training opportunities accommodating large groups and facilitating comprehensive education on can manufacturing processes to accelerate production ramps, increa ...

HARTSVILLE, S.C., May 30, 2024 (GLOBE NEWSWIRE) -- Sonoco Products Company ("Sonoco") (NYSE: SON), one of the largest sustainable global packaging companies, today announced the grand opening of a new multi-million-dollar, state-of-the-art center at 2850 Charter Street in Columbus, Ohio. The 11,000 square foot facility includes modern laboratories, prototyping equipment, training rooms, and collaboration spaces. The opening of the Sonoco Metal Packaging Technical & Engineering Center demonstrates the compan ...

Core Insights - Sonoco Products Company is experiencing growth in its consumer packaging business despite volume declines due to lower consumer spending, with shares gaining 4.7% over the past year compared to the industry's 15.5% growth [1] Strategic Actions Aid Margins - The consumer packaging segment is benefiting from the Metal Packaging acquisition and aggressive pricing strategies to combat inflation [3] - Strong recovery in pricing and cost management, along with the Ball Metalpack acquisition, is expected to positively impact 2024 results [3][4] Focus on Growth & Innovation - Sonoco aims to achieve an annual EBITDA of $1 billion by 2026 through increased investment in core businesses and capital allocation [5] - The company plans to enhance returns on invested capital via organic investments and strategic acquisitions [5][6] Strategic Acquisitions Drive Performance - The acquisition of Ball Metalpack for $1.35 billion enhances Sonoco's sustainable packaging portfolio and is expected to yield tax benefits of $180 million [7][8] - The acquisition of Skjern for $88 million expands production capacity and positions Sonoco in the growing sustainable paper market in Europe [9] Near-Term Concerns - Declining volumes due to reduced consumer purchases may negatively impact margins, alongside pressures from raw material and energy costs [10] - Supply chain disruptions and increased SG&A expenses are anticipated to affect performance in 2024 [10]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or Washington, D.C. 20549 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-11261 Sonoco Products Company (Exact name of registrant as specified in its charter) (843) 383-7000 (Registrant's telephone number, including ...

Sonoco Products Company (NYSE:SON) Q1 2024 Earnings Conference Call May 1, 2024 9:00 AM ET Company Participants Lisa Weeks - Vice President of Investor Relations Howard Coker - President & Chief Executive Officer Rob Dillard - Chief Financial Officer Rodger Fuller - Chief Operating Officer Conference Call Participants Ghansham Panjabi – Baird George Staphos - Bank of America Securities Mark Weintraub - Seaport Research Partners Gabe Hajde - Wells Fargo Gregory Andreopoulos - Citi Operator Good day and thank ...

April 30, 2024 Sonoco Reports First Quarter 2024 Results Hartsville, S.C., U.S. - Sonoco Products Company ("Sonoco" or the "Company") (NYSE: SON), one of the largest sustainable global packaging companies, today reported financial results for its first quarter ended March 31, 2024. Summary: -more- • Generated $166 million of operating cash flow and $80 million of Free Cash Flow • Achieved net income attributable to Sonoco of $65 million, Adjusted EBITDA of $245 million, diluted earnings per share of $0.66 a ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-11261 SONOCO PRODUCTS COMPANY (Exact name of registrant as specified in its charter) South Carolina (State or other jurisdiction of incorporati ...

Financial Data and Key Metrics Changes - Full year 2023 net sales decreased to $6.78 billion, impacted by destocking and an elongated cycle in industrial, although net sales grew at a 10% compounded annual growth rate since 2021 due to strategic pricing, new product wins, and acquisitions [4][10][107] - Q4 2023 net sales declined to $1.64 billion, with a 3.4% decrease in volumes and a negative price impact of 2.3% due to index-based pricing [5][97] - Adjusted EBITDA grew from $770 million in 2021 to $1.067 billion in 2023, with an adjusted EBITDA margin of 15.7%, a 190 basis point increase from 2021 [32][105] Business Line Data and Key Metrics Changes - Rigid Paper Containers sales declined low single digits due to mid single-digit volume declines, while Flexible sales were flat as new customer gains offset low legacy customer volumes [6] - Industrial operating profit decreased to $62 million, with a margin of 10.4%, while Consumer operating profit decreased to $83 million, maintaining a margin of 9.7% [14][34] - All other sales decreased 7% to $187 million, but operating profit increased to $22 million due to strong productivity and positive price cost [14] Market Data and Key Metrics Changes - Industrial volumes decreased low single digits due to lower demand in key markets, with prices decreasing mid-single digits due to index-based pricing actions [99][112] - Consumer volumes are expected to grow low single digits, while industrial volumes are projected to experience limited recovery [100][114] Company Strategy and Development Direction - The company is focused on portfolio simplification and alignment with core businesses, including the expected sale of the Protective Solutions business [17] - Increased capital expenditures are directed towards long-term growth and profitability projects, with expectations for record productivity in 2024 and beyond [15][111] - The integration of flexible and thermoforming businesses is aimed at creating a larger scaled platform, enhancing market position and operational efficiency [40][58] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future performance despite challenges, noting that 2023 was the second-best financial performance in the company's history [10][107] - The company anticipates modestly negative volume in consumer due to cautious customer behavior, but expects recovery in industrial volumes as conditions normalize [15][114] - Price cost is expected to be negative in the first quarter due to rising input costs and timing of pricing updates, but improvements are anticipated throughout the year [37][120] Other Important Information - The company returned capital to shareholders and increased its annual dividend for the 40th consecutive year [31] - Record operating cash flow of $883 million and free cash flow of $600 million were generated in 2023 [106] Q&A Session Summary Question: What is the impact of price cost on profitability for 2024? - Management anticipates a drag of $0.50 to $0.55 in Q1 due to price cost dynamics, with industrial expected to have a $35 million impact [22] Question: How has the competitive landscape changed in the consumer segment? - Management noted no material share loss, with some share gains, but overall demand remains weak across the consumer segment [73] Question: What is the expected impact of the divestiture of Protective Solutions on guidance? - The divestiture is expected to be $0.10 dilutive to EPS on a full-year basis, with closure anticipated by the end of Q1 [121]

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