Sonoco Prod Stock Price, News & Analysis

Sonoco (NYSE: SON), a leading global sustainable packaging company, has announced significant upcoming investor events. The Fourth Quarter and Full Year 2022 Earnings Call is scheduled for February 9, 2023, with a press release set to be issued on February 8, 2023. Additionally, Sonoco will present at the Bank of America Global Agriculture & Materials Conference on March 1, 2023, and will engage in one-on-one meetings with investors. On March 14, 2023, Sonoco will participate in the NYSE Materials Virtual Investor Access Day, offering further one-on-one meeting opportunities.

Founded in 1899, Sonoco generated approximately $5.6 billion in net sales in 2021, emphasizing its commitment to sustainability.

Sonoco (NYSE: SON) has achieved a Gold Medal rating from EcoVadis for the second consecutive year, placing it in the top 5% of over 100,000 global organizations. The Vice President of Environmental Sustainability, Elizabeth Rhue, emphasized the importance of sustainable practices in today’s market. Sonoco has also been recognized on Barron's ‘100 Most Sustainable Companies’ list for four years and ranked first in the Packaging Sector on Fortune's World's Most Admired Companies list for 2022. The company reported net sales of approximately $5.6 billion in 2021.

Sonoco (NYSE: SON) has appointed Steven L. Boyd to its Board of Directors as of December 9, 2022. Boyd brings over 35 years of experience in the Consumer Packaged Goods sector, having held leadership roles at Tate & Lyle, The Coca-Cola Company, and The Dial Corporation. His expertise in sales innovation and consumer products is expected to enhance Sonoco's strategic direction. Boyd will serve on the Audit Committee and the Employee and Public Responsibility Committee, aligning with Sonoco's commitment to social impact and sustainability.

On November 22, 2022, Sonoco ThermoSafe, a unit of Sonoco (NYSE:SON), announced a global lease agreement with LATAM Cargo for the Pegasus ULD® temperature-controlled shipping container. This agreement allows pharmaceutical freight forwarders to access the Pegasus ULD® directly through LATAM Cargo. The Pegasus ULD® is the first FAA and EASA-approved passive bulk temperature-controlled container, designed for efficient and cost-effective air freight handling. It features advanced materials and an integrated telemetry system for real-time data monitoring.

Sonoco, a leader in diversified packaging, is expanding its Sonopost® cornerpost manufacturing in Europe with a new facility in Bursa, Turkey, opening in November 2022. This move follows the establishment of its first Sonopost® operation in Sochaczew, Poland. The second facility will address the increasing demand for EPS-free packaging and enhance sustainable practices by providing protective packaging made from 100% recycled paperboard. Additionally, the Bursa plant will feature a design and testing lab to support customer packaging needs.

Sonoco Products Company has announced a definitive agreement to purchase the remaining equity interest in RTS Packaging, LLC from WestRock Company for $330 million. This acquisition, projected to close in early 2023, will grant Sonoco full ownership of RTS, which is expected to generate $270 million in sales and $50 million in EBITDA for the year ending 2022. Sonoco anticipates achieving $40 million in tax benefits and $16 million in synergies post-acquisition, aligning with its strategy to expand its sustainable packaging portfolio.

Sonoco Products Company (NYSE: SON) reported robust financial results for Q3 2022, achieving $1.89 billion in net sales, up 34% year-over-year. Operating profit surged 44% to $182 million, and diluted EPS rose 11% to $1.24. The company launched a new uncoated recycled paperboard machine and announced the Skjern Paper acquisition to enhance European production. Despite challenges from lower industrial volumes and currency impacts, Sonoco raised its full-year earnings guidance to $6.40-$6.50 per share, showcasing strong strategic pricing and acquisition performance.

The Board of Directors of Sonoco (NYSE: SON) has announced a quarterly dividend of $0.49 per share, scheduled for payment on December 9, 2022, to shareholders of record as of November 10, 2022. This marks the 390th consecutive quarter of dividend payments, dating back to 1925. At the closing price on October 18, 2022, this dividend represents a yield of approximately 3.14%. Future dividend declarations are subject to the Board's final determination.

Sonoco Alloyd has received pre-qualification to use the How2Recycle label on its EnviroSense® PaperBlister™ packaging. This innovative product, introduced in 2019, is fully recyclable and made from renewable resources, offering a sustainable alternative to traditional plastic blisters. The How2Recycle label enhances consumer understanding of recyclability and aids brands in achieving their sustainability goals. Sonoco aims to boost recycling initiatives and relevant packaging claims by 2025, leveraging this pre-qualification to streamline the packaging development process.