Core Viewpoint - Sonoco Products Company has appointed Andrea White as Chief Human Resources Officer, recognizing her extensive experience and leadership within the company [1][3]. Company Overview - Sonoco, founded in 1899, is a global leader in sustainable packaging, operating as a multi-billion-dollar enterprise with approximately 28,000 employees across 315 operations in 40 countries [4]. - The company focuses on value-added metal and fiber consumer and industrial packaging, serving well-known global brands [4]. - Sonoco emphasizes a culture of innovation, collaboration, and excellence, aiming for a sustainable future [4]. Leadership Background - Andrea White, 50, has been with Sonoco for 18 years, starting as a Reliability Engineer and progressing through various roles, including Global Maintenance Excellence Manager and Vice President of Global Operational Excellence [2]. - In 2022, she was appointed Vice President of Global Human Resources before her recent promotion to Chief Human Resources Officer [2]. - White holds a Bachelor of Science in Textile Engineering from N.C. State University and is certified in Lean Manufacturing [3].

Employee and Talent Management - As of December 31, 2024, Sonoco had approximately 28,000 full-time equivalent employees, including about 6,500 from the Eviosys acquisition[45] - Sonoco's Global Talent Acquisition and Organizational Development team aims to manage the employee lifecycle through continuous training and succession planning[52] - The company has made significant progress in talent acquisition during 2024 despite a challenging labor market[47] Safety and Injury Rates - Injury rates in 2024 were stable year over year, with decreases in total injuries, high potential injuries, and serious injuries compared to 2023[50] - The company achieved a 97% completion rate on its annual safety improvement plans as of December 31, 2024[50] Sustainability Initiatives - Sonoco's sustainability goals include reducing greenhouse gas emissions, energy and water usage, and the use of single-use plastics[39] - The company is focused on developing products made from renewable materials and materials that can be recycled or composted[40] - Sonoco's Global Sustainability team became part of the Legal & Compliance department to enhance focus on sustainability efforts[38] Corporate Culture and Ethics - The company emphasizes a culture of accountability and aims to conduct business in a fair, ethical, and responsible manner[39] - Sonoco's executive compensation program is designed to align incentives with the achievement of the company's strategic plan and operating objectives[53]

Core Insights - Sonnet BioTherapeutics Holdings, Inc. presented data at the 2025 AACR:IO Conference, showcasing its Fully Human Albumin Binding (FHAB®) platform for targeted immunotherapy [2][3] - The FHAB platform enhances tumor targeting and retention, potentially improving the efficacy of immunotherapeutic drugs [4][5] Company Overview - Sonnet is a clinical-stage biotechnology company focused on developing targeted immunotherapeutic drugs using its proprietary FHAB platform [9][10] - The lead program, SON-1010, is designed to treat advanced solid tumors and is currently in a Phase 1/2a study in combination with atezolizumab for platinum-resistant ovarian cancer [10] Technology and Mechanism - The FHAB platform links cytokines to a fully human albumin-binding domain, allowing for prolonged half-life and improved pharmacokinetics [4][6] - SON-1010, a recombinant human interleukin-12 (rhIL-12), is engineered to enhance immune responses by targeting the tumor microenvironment [8][10] Clinical Development - Ongoing studies include SON-1010 monotherapy, co-administration with checkpoint inhibitors, and alternating with chemotherapy to enhance therapeutic effects [6][7] - In December 2024, clinical benefit was reported in 48% of patients treated with SON-1010 at the highest dose [6] Future Prospects - The company plans to announce additional data from ongoing studies in 2025, indicating a commitment to advancing its clinical programs [5][6] - SON-1210, another candidate in development, aims to combine IL-12 with IL-15 for enhanced efficacy in treating solid tumors [10]

Company Overview - Sonoco Products, based in Hartsville, SC, is a leading provider of consumer packaging, industrial products, protective packaging, and packaging supply chain services, with a focus on manufacturing paperboard primarily from recycled materials [12]. Investment Ratings - Sonoco is rated as a 1 (Strong Buy) on the Zacks Rank, indicating strong potential for investment [12]. - The company has a VGM Score of A, reflecting its attractiveness across various investment styles [12][13]. Value Metrics - Sonoco has a Value Style Score of A, supported by favorable valuation metrics, including a forward P/E ratio of 7.57, which is appealing to value investors [13]. - The Zacks Consensus Estimate for fiscal 2025 has increased by $0.31 to $6.11 per share, indicating positive earnings revisions [13]. Earnings Performance - Sonoco has demonstrated an average earnings surprise of 2%, suggesting a consistent ability to exceed earnings expectations [13].

Core Viewpoint - Sonoco Products Company reported mixed financial results for the fourth quarter of 2024, with adjusted EPS slightly missing estimates and net sales falling short of expectations, while the company continues to navigate challenges from acquisitions and divestitures [1][3][13]. Financial Performance - Adjusted EPS for Q4 2024 was $1.17, missing the Zacks Consensus Estimate of $1.18, but within the company's guided range of $1.15 to $1.35. Including the impact of the Eviosys acquisition, adjusted EPS was $1.00, down 2% from $1.02 in the previous year [1][2]. - Net sales for Q4 were $1.36 billion, missing the Zacks Consensus Estimate of $1.75 billion, but reflecting a 2% year-over-year increase from the adjusted figure of $1.34 billion in the prior year [3][4]. - The cost of sales increased by 3% year-over-year to $1.08 billion, leading to a gross profit of $283 million, which is a 1.7% decline from the previous year. The gross margin decreased to 20.8% from 21.6% [5]. - Adjusted operating income fell by 5% to $127 million, with an operating margin of 9.3%, down from 10.1% in the prior year [5]. Segment Performance - The Consumer Packaging segment saw net sales rise by 18% year-over-year to $705 million, driven by Eviosys sales and volume growth, with adjusted EBITDA of $100 million, up 9% [7]. - The Industrial Paper Packaging segment reported net sales of $571 million, a 4% decline year-over-year, but adjusted segment EBITDA grew by 11.9% to $102 million [8]. - The All Other segment experienced a significant 40% drop in sales to $88 million, with adjusted EBITDA falling to $8 million from $23 million in the previous year [9]. Cash Flow and Balance Sheet - At the end of 2024, Sonoco had cash and cash equivalents of $431 million, up from $139 million at the end of 2023, and generated operating cash flow of approximately $834 million [10][11]. - Total debt increased to around $7 billion from $3 billion as of December 31, 2023 [11]. Strategic Moves - Sonoco has agreed to sell its Thermoformed and Flexibles Packaging business and global Trident business to TOPPAN Holdings, Inc. for approximately $1.8 billion, aiming to use proceeds to reduce debt levels [12]. 2024 Performance and Guidance - For the full year 2024, adjusted EPS declined by 7% to $4.89, missing the consensus estimate of $5.08, while revenues decreased by 2.5% to $5.3 billion [13]. - The company projects adjusted EPS for 2025 to be between $6.00 and $6.20, with adjusted EBITDA expected between $1.3 billion and $1.4 billion [14]. Stock Performance - Sonoco's shares have decreased by 15.6% over the past year, contrasting with the industry's growth of 9.6% [15].

Sonoco Products Company (NYSE:SON) Q4 2024 Earnings Conference Call February 19, 2024 8:30 AM ET Company Participants Roger Schrum - Interim Head, Investor Relations and Communications Howard Coker - President and CEO Jerry Cheatham - Interim CFO Rodger Fuller - COO Conference Call Participants George Staphos - Bank of America Bryan Burgmeier - Citi Matt Roberts - Raymond James Mark Weintraub - Seaport Research Partners Mike Roxland - Truist Securities Richard Carlson - Wells Fargo Operator Thank you for st ...

Core Insights - Sonoco Products Company reported a net loss of $43 million for Q4 2024, a significant decline from a net income of $81 million in Q4 2023, resulting in a diluted EPS of $(0.44) compared to $0.82 in the prior year [5][10][34] - The company generated strong operating cash flow of $834 million in 2024, although this was a decrease from $883 million in 2023 [19] - Sonoco's full-year 2025 guidance projects cash flow from operating activities to be between $800 million and $900 million, with adjusted net income growth expected to be around 20% year-over-year [18][20] Financial Performance - For Q4 2024, net sales were $1.363 billion, a 2% increase from $1.336 billion in Q4 2023, driven by low single-digit volume gains and partial sales from the Eviosys acquisition [4][10] - The operating profit for Q4 2024 was $56 million, down 46% from $103 million in Q4 2023, primarily due to higher acquisition-related costs [4][10] - Adjusted operating profit for Q4 2024 was $127 million, a 5% decrease from $134 million in Q4 2023 [6][10] Segment Performance - The Consumer Packaging segment saw net sales increase by 18% in Q4 2024, reaching $705 million, attributed to the Eviosys acquisition and volume growth in rigid paper containers [11][13] - The Industrial Paper Packaging segment reported net sales of $571 million, a 4% decline from $593 million in Q4 2023, impacted by lower sales related to recycling operations [12][14] - The "All Other" segment experienced a 40% decline in net sales to $88 million in Q4 2024, reflecting the sale of the Protexic business [15] Strategic Developments - Sonoco completed the acquisition of Eviosys, enhancing its global leadership in sustainable metal packaging [5][8] - The company announced the divestiture of its Thermoformed and Flexibles Packaging business to TOPPAN Holdings for approximately $1.8 billion [5][20] - Sonoco aims to achieve a two-year synergy target of $100 million from the Eviosys integration [20] Cash Flow and Capital Expenditures - Free Cash Flow for 2024 was $456 million, down from $600 million in 2023 [19] - The company invested a record $378 million in capital expenditures for growth and productivity projects during 2024 [5][19] Guidance and Outlook - Sonoco expects adjusted EPS for 2025 to be in the range of $6.00 to $6.20, with adjusted EBITDA projected between $1.3 billion and $1.4 billion [19][20] - The company is focused on reducing leverage to a target of 3.0X to 3.3X Net Debt/Adjusted EBITDA by the end of 2026 [20]

Company Performance - Sonoco reported quarterly earnings of $1.17 per share, missing the Zacks Consensus Estimate of $1.18 per share, but showing an increase from $1.02 per share a year ago, representing an earnings surprise of -0.85% [1] - The company posted revenues of $1.36 billion for the quarter ended December 2024, missing the Zacks Consensus Estimate by 22.13%, and down from $1.64 billion year-over-year [2] - Over the last four quarters, Sonoco has surpassed consensus EPS estimates three times but has not beaten consensus revenue estimates [2] Stock Outlook - Sonoco shares have underperformed the market, losing about 2.2% since the beginning of the year compared to the S&P 500's gain of 4% [3] - The company's earnings outlook is crucial for investors, with current consensus EPS estimates at $1.37 on $2.11 billion in revenues for the coming quarter and $6.25 on $8.51 billion in revenues for the current fiscal year [7] Industry Context - The Containers - Paper and Packaging industry, to which Sonoco belongs, is currently in the bottom 26% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that the industry outlook can significantly impact Sonoco's stock performance [5][8]

Sonoco Reports Fourth Quarter and Full Year 2024 Results Hartsville, S.C., U.S. - Sonoco Products Company ("Sonoco" or the "Company") (NYSE: SON), a global leader in high- value sustainable packaging, today reported financial results for its fourth quarter and fiscal year ended December 31, 2024. References in today's news release to consolidated "net sales," "operating profit," and "adjusted operating profit," and Consumer Packaging segment "segment operating profit" and "segment adjusted EBITDA" along wit ...

HARTSVILLE, S.C., Feb. 18, 2025 (GLOBE NEWSWIRE) -- Sonoco Products Company ("Sonoco" or the "Company") (NYSE:SON), a global leader in high-value sustainable packaging, today reported financial results for its fourth quarter and fiscal year ended December 31, 2024. References in today's news release to consolidated "net sales," "operating profit," and "adjusted operating profit," and Consumer Packaging segment "segment operating profit" and "segment adjusted EBITDA" along with the corresponding year-over-ye ...