Welcome to our dedicated page for Sonoco Prod news (Ticker: SON), a resource for investors and traders seeking the latest updates and insights on Sonoco Prod stock.
Sonoco Products Company (NYSE: SON) is a global packaging company focused on value-added, sustainable metal and fiber consumer and industrial packaging. As a long-established issuer with stock listed on the New York Stock Exchange, Sonoco regularly publishes news that is relevant to investors, analysts and stakeholders following SON shares.
News about Sonoco often centers on quarterly and annual financial results, where the company reports net sales, operating profit, adjusted operating profit, adjusted EBITDA and segment performance for its Consumer Packaging and Industrial Paper Packaging businesses. These releases frequently include management commentary on price/cost dynamics, productivity initiatives, acquisitions such as the Metal Packaging EMEA (Eviosys) business, and divestitures of non-core operations.
Another recurring theme in Sonoco’s news flow is its portfolio transformation. The company has issued announcements about the sale of its Thermoformed and Flexibles Packaging and global Trident businesses and the agreement and completion of the sale of its ThermoSafe temperature-assured packaging unit to an affiliate of Arsenal Capital Partners. These items explain how Sonoco is simplifying its portfolio into two core global segments and using net proceeds to reduce debt and leverage.
Sonoco also issues dividend declarations, highlighting its 100-year history of dividend payments and decades of consecutive annual dividend increases. Additional releases cover capital investments, such as expanding production capacity in the adhesives and sealants market, and organizational updates, including changes to the Consumer Packaging structure and leadership appointments in EMEA/APAC and the Americas.
Investors and observers can use Sonoco’s news stream to follow developments in its global metal and fiber packaging operations, track progress on its transformation strategy, and understand how management views market conditions and future priorities.
Sonoco (NYSE: SON) has announced a quarterly dividend increase to $0.53 per share, raising the annual payout to $2.12 from $2.08. The dividend will be paid on June 10, 2025, to shareholders of record on May 9, 2025.
This marks Sonoco's 100th consecutive year of dividend payments, representing the 400th consecutive quarter since 1925. It's also the company's 42nd consecutive year of dividend increases. The current dividend yield is approximately 4.8%, more than double the S&P Mid-Cap 400 Index yield.
The company has generated $1.7 billion in operating cash flow over the past two years, which has been invested in growth and productivity improvements. While focusing on reducing leverage following the Eviosys acquisition, Sonoco maintains its commitment to shareholder returns through dividends.
Sonoco (NYSE: SON) has completed the sale of its Thermoformed and Flexibles Packaging business (TFP) to TOPPAN Holdings for approximately $1.8 billion on a cash-free and debt-free basis. The company will use the $1.5 billion in after-tax proceeds to reduce leverage.
The transaction involves the transfer of approximately 4,500 TFP employees to Toppan. This strategic move aligns with Sonoco's transformation goals toward becoming a simpler, stronger, and more sustainable company, with a focused portfolio in sustainable metal and fiber consumer and industrial packaging.
Goldman Sachs & Co. served as lead financial advisor to Sonoco, with RBC Capital Markets, as additional financial advisor. The company will report its first quarter 2025 financial results on April 29, 2025.
Sonoco Products Company (NYSE: SON) has achieved a significant recognition by being named one of America's Most Trustworthy Companies, securing the 11th position in the Transport, Logistics and Packaging sector. The ranking, compiled through a partnership between Newsweek and Statista, evaluated 700 companies across 23 industries.
The assessment was based on an independent survey of 25,000 U.S. respondents, generating over 100,000 evaluations from consumers, employees, and investors. Howard Coker, president and CEO, emphasized the company's founding principle from 1899: 'People Build Businesses by Doing the Right Thing,' which continues to guide their mission in innovative packaging solutions.
Notable companies joining Sonoco on the list include established brands like Fidelity, Harley-Davidson, GE, and Marriott International, as well as emerging companies such as In-N-Out Burger and Publix.
Sonoco (NYSE: SON) has announced a €60 per metric ton price increase for all grades of core board and paperboard in Europe, effective April 7, 2025. The price adjustment comes in response to two major challenges:
1. A general shortage of Old Corrugated Containers (OCC), the primary raw material in core board production, with rising prices in March and expected increases in April and beyond. The shortage is exacerbated by OCC exports from Europe tightening local supply.
2. Persistent high energy costs across Europe, with low gas storage levels and the need to replenish reserves over summer unlikely to support meaningful cost reductions.
KB Home (NYSE: KBH) has appointed Robert R. Dillard as Executive Vice President and Chief Financial Officer, effective March 31, 2025. Dillard joins from Sonoco Products Company where he served as CFO, overseeing net sales of $5.3 billion in 2024.
Dillard brings diverse experience, having previously held positions as President of Domtar Personal Care Europe and President of Stanley Hydraulics at Stanley Black & Decker. Chairman and CEO Jeffrey Mezger highlighted Dillard's combined operations and finance expertise, emphasizing his proven leadership and focus on driving profitability and returns.
Sonoco Products Company (NYSE: SON) has released its 2024 Annual Report to shareholders, highlighting a transformative year marked by strategic changes. The company announced two major developments: the acquisition of Eviosys, Europe's leading food cans manufacturer, and the sale of its Thermoforming and Flexible Packaging operations to TOPPAN Holdings Inc.
CEO Howard Coker emphasized 2024 as a milestone year in transforming Sonoco into a simpler, stronger, and more sustainable company. The company has positioned itself as a global leader in sustainable metal and fiber Consumer and Industrial Packaging.
The company's 2025 Annual General Meeting is scheduled for April 16, 2025, at 11 a.m. ET at the Performing Arts Center at Coker University, Hartsville, S.C. Additionally, Sonoco will announce its first quarter 2025 financial results on April 29, 2025, after market close, followed by a management conference call on April 30, 2025, at 8:30 a.m. ET.
Sonoco (NYSE: SON) has announced significant price increases across its paper packaging products. The company will implement a $70 per ton price increase for all grades of uncoated recycled paperboard (URB) in the United States and Canada, effective April 10, 2025.
Additionally, Sonoco will raise prices for all converted paperboard products by a minimum of 8%, effective April 15, 2025. This increase affects paperboard tubes, cores, cones, partitions, protective packaging, and other specialty products.
The company cites continued inflation in input costs and tightening market conditions as reasons for the price adjustments. Sonoco is also transitioning to value-based pricing, moving away from old corrugated container price mechanisms to better reflect market conditions and operational costs.
Sonoco Products Company (NYSE: SON) has announced the appointment of Andrea White as Chief Human Resources Officer, who has also been elected as a corporate officer by the Company's Board of Directors. White, 50, joins the Company's Executive Committee and reports directly to Howard Coker, President and CEO.
With an 18-year tenure at Sonoco, White started as a Reliability Engineer and progressed through various roles including Global Maintenance Excellence Manager and Director of Global Sonoco Performance System and Organizational Development. In 2022, she became Vice President of Global Operational Excellence, overseeing Commercial Excellence and IT, before advancing to Vice President of Global Human Resources.
White holds a BS in Textile Engineering from N.C. State University (1996), is certified in Lean Manufacturing, and serves on the Florence Darlington Technical College Foundation Board.
Sonoco Products Company (NYSE: SON) reported its Q4 and fiscal year 2024 results, marking significant strategic developments. The company completed the acquisition of Eviosys, Europe's leading food cans manufacturer, on December 4, 2024, and entered an agreement to sell TFP to TOPPAN Holdings for $1.8 billion.
Key Q4 2024 results include:
- Net sales increased 2% to $1.4 billion
- GAAP net loss of $(43) million, or $(0.44) per diluted share
- Adjusted net income of $100 million, or $1.00 per diluted share
- Adjusted EBITDA of $247 million, up 4.6% year-over-year
For full-year 2024, the company generated operating cash flow of $834 million and Free Cash Flow of $456 million. Looking ahead to 2025, Sonoco projects:
- Adjusted EPS guidance of $6.00 to $6.20
- Operating cash flow of $800-900 million
- Adjusted EBITDA of $1,300-1,400 million
- Approximately 20% growth in adjusted net income
Sonoco (NYSE: SON) reported Q4 and full-year 2024 results, highlighting significant strategic moves including the acquisition of Eviosys and agreement to sell TFP to TOPPAN for $1.8 billion. Q4 showed mixed performance with:
- Net sales increased 2% to $1.4 billion
- GAAP net loss of $(43) million, or $(0.44) per diluted share
- Adjusted net income of $100 million, or $1.00 per diluted share
- Strong operating cash flow of $834 million for 2024
- Adjusted EBITDA of $247 million, up 4.6% year-over-year
For 2025, Sonoco projects approximately 20% growth in adjusted net income, with guidance for:
- Adjusted EPS of $6.00 to $6.20
- Operating cash flow of $750-850 million
- Adjusted EBITDA of $1,300-1,400 million