Sonoco Prod Stock Price, News & Analysis

Sonoco Protective Solutions has launched two new sustainable packaging options, the EnviroSense FiberMax™ Bulk Box and Master Roll, targeting heavy and high-value products. These 100% recyclable solutions offer enhanced protection, reduce storage space, and lower costs—up to 50% cheaper than wooden crates. The FiberMax Bulk Box is designed for products weighing thousands of pounds, while the Master Roll is suitable for roll-form materials. This innovation aligns with Sonoco's commitment to sustainability and reflects their ongoing efforts to develop eco-friendly solutions.

Sonoco ThermoSafe has launched the EOS™ line of fully curbside recyclable temperature controlled packaging in the U.S. This innovative packaging system addresses the need for reliable curbside recyclability in life sciences and perishable products. Unlike competitors, EOS uses recyclable materials that meet municipal recycling guidelines. Made from 100% post-industrial paper fiber, EOS supports a circular economy by potentially transforming scrap materials into new products. The line aims to provide trusted recyclable solutions for global clients in pharmaceuticals and food sectors.

Sonoco has launched a new, patent-pending roll-feed, cut and seal machine for medical packaging applications utilizing Tyvek. This machine enhances production efficiency by reducing operator error, lowering tooling costs, and increasing sealing speeds and quality. It is compatible with various Tyvek materials and incorporates an automatic feeder to improve production rates. The machine's design allows for recycling of Tyvek scrap, aligning with Sonoco's sustainability goals. This innovation reflects Sonoco's commitment to improving packaging solutions in the medical industry.

Sonoco ThermoSafe, part of Sonoco (NYSE:SON), announced a Master Lease Agreement with AirBridge Cargo Airlines to supply the Pegasus ULD™, the first FAA-approved passive bulk temperature-controlled container for pharmaceuticals. This innovative, lighter design enhances damage resistance and integrates a telemetry system for real-time monitoring of temperature and environmental factors. Yulia Celetaria from AirBridgeCargo highlighted the benefits of the Pegasus ULD™ in ensuring safe healthcare logistics, while Bourji Mourad emphasized its cost-effectiveness for transporting critical medications.

On November 1, 2020, Sonoco (NYSE: SON) appointed Rob Dillard as Vice President, Corporate Development, and Rick Johnson as Vice President and Chief Information Officer. Dillard brings extensive experience from previous roles at Domtar and Stanley Black and Decker, alongside a strong background in capital markets. Johnson, previously the CIO at HNI and with a history at Johnson Controls, will continue to advance Sonoco's global IT and digital strategy. Sonoco, founded in 1899, reports annualized net sales of approximately $5.4 billion and employs around 23,000 people worldwide.

Sonoco (NYSE: SON) reported third-quarter 2020 results showing GAAP earnings per diluted share of $0.82, down from $0.91 in 2019. Net sales decreased to $1.31 billion, a 3.1% decline year-over-year. Base earnings were $0.86 per diluted share, below the previous year's $0.97. Despite restructuring-related charges affecting profits, cash flow from operations surged to $489.5 million. The company announced fourth-quarter guidance of $0.70 to $0.80 per diluted share and expects full-year cash flows between $643 million and $663 million. CEO Howard Coker expressed optimism about gradual improvements in demand.

Sonoco (NYSE: SON) announced an 8% price increase for all paperboard tubes and cores, effective November 23, 2020, across the United States and Canada. This move aims to offset recent increases in paperboard prices and inflationary costs that the company cannot absorb. Sonoco is the leading producer of paper-based tubes and cores in North America, serving various industries including paper and films. With annual net sales of around $5.4 billion and a workforce of 23,000 across 36 countries, Sonoco emphasizes sustainable practices in its operations.

On October 19, 2020, Sonoco (NYSE: SON) declared a quarterly dividend of $0.43 per share, set to be paid on December 10, 2020, to shareholders recorded as of November 10, 2020. This marks the company's 382nd consecutive dividend payment since 1925 and reflects 37 years of dividend increases. The current dividend yield stands at 3.1%, significantly above the S&P 500 average. With annual net sales around $5.4 billion and a commitment to sustainability, Sonoco continues to be a leader in the packaging sector.

Sonoco Announces Board Changes

On October 19, 2020, Sonoco (NYSE: SON) elected Eleni Istavridis to its Board of Directors. Concurrently, Harry A. Cockrell decided not to stand for reelection at the upcoming Annual General Meeting in April 2021. Istavridis brings over 20 years of experience in banking and manufacturing, particularly in Asia, having held senior roles at Bank of New York Mellon and Deutsche Bank. She is set to stand for shareholder election in April 2021. Sonoco is recognized for its diverse packaging solutions, with annual sales around $5.4 billion.