Sonoco Prod Stock Price, News & Analysis

Sonoco Products Company (NYSE: SON) has updated its first-quarter 2023 earnings guidance, forecasting base earnings of $1.30 to $1.40 per diluted share, exceeding previous estimates of $1.15 to $1.25. This positive revision is attributed to improved productivity, lower input costs, and higher demand in certain markets. Sonoco will release detailed financial results on May 1, 2023, followed by a conference call on May 2, 2023, at 8:30 a.m. ET. Founded in 1899, Sonoco reported net sales of approximately $7.3 billion in 2022 and is recognized for its commitment to sustainable packaging solutions.

Sonoco (NYSE: SON) announces that Elizabeth Rhue, Vice President of Global Environmental, Sustainability, & Technical Services, has been recognized in Waste360's 2023 40 Under 40 awards. This accolade highlights her contributions in sustainability and waste management over her 18-year tenure at Sonoco. Rhue has been instrumental in advancing the company’s sustainability strategies, including zero landfill initiatives. Sonoco emphasizes its commitment to global sustainable packaging and recognizes her leadership as crucial for achieving sustainability goals. The awards ceremony will be held at WasteExpo, May 1-4, 2023, in New Orleans.

Sonoco (NYSE: SON) has declared a quarterly dividend of $0.49 per share, payable on March 10, 2023, to shareholders of record by February 22, 2023.

This marks the 391st consecutive quarter of dividend payments, a record dating back to 1925. The company has increased its dividend for 39 consecutive years, showcasing strong financial performance and commitment to returning value to shareholders. The last dividend increase occurred in March 2022, with further adjustments expected to be discussed in the April board meeting.

Sonoco Products Company (NYSE: SON) reported record financial results for the fourth quarter and full year 2022, highlighted by a 16% revenue increase in Q4 and a 30% annual growth in net sales, reaching $7.3 billion, driven by strategic pricing and successful acquisitions, including Metal Packaging. GAAP earnings per share (EPS) rose by 48% in Q4 to $0.98 and by 65% for the full year to $4.72. The company also reaffirmed its commitment to ESG initiatives. Although cash flow from operating activities improved, total debt rose significantly due to acquisition financing. Guidance for Q1 2023 estimates base EPS between $1.15 to $1.25.

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.