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Sonoco Products Company (NYSE: SON), founded in 1899, is a global leader in providing consumer and industrial packaging solutions. With annualized net sales of approximately $4.8 billion, Sonoco operates in more than 300 facilities across 33 countries, employing around 20,000 people. The company is distinguished by its diverse range of packaging products and services, including paperboard containers, tubes and cores, convenience closures, thermoformed plastic packaging, and engineered molded and extruded plastic products. Sonoco also offers protective, temperature, and retail assurance packaging, serving some of the world’s most recognizable brands in 85 nations.
Recent Achievements and Projects: Over its 100-year-plus history, Sonoco has built a broad portfolio of industrial and consumer packaging solutions, including flexible and rigid plastics, reels and spools, pallets, and composite cans. The company has consistently raised its dividend each year for more than three decades, underscoring its financial stability and commitment to shareholders.
Notable Financial Performance: Sonoco reports its financial results in two primary segments: Consumer and Industrial. The company’s robust financial health is often highlighted in its quarterly and annual reports, showcasing its ability to adapt and thrive in varying market conditions.
Strategic Partnerships: A recent notable partnership includes a Virtual Power Purchase Agreement (VPPA) with ENGIE North America for the Big Sampson Wind Project in Texas. This agreement aims to supply approximately 140 megawatts of electricity per year, meeting about 48% of Sonoco’s U.S. electricity needs by 2025. This move aligns with Sonoco’s commitment to reducing global Scope 1 and Scope 2 emissions by 25% by 2030 from a 2020 baseline.
Awards and Recognitions: Sonoco’s commitment to corporate citizenship and sustainability has earned it numerous accolades, including being listed on the Dow Jones Sustainability Index and named one of America’s Most Responsible Companies by Newsweek. The company was also ranked first in the Packaging sector on Fortune’s World’s Most Admired Companies list for 2022 and included in Barron’s 100 Most Sustainable Companies for the fourth consecutive year.
Investor Relations: Sonoco actively engages with its investors and stakeholders through events like Investor Day, where detailed presentations and Q&A sessions with the executive leadership team offer insights into the company’s strategic direction and financial outlook. A live audio webcast and supporting materials are typically made available on the company’s Investor Relations website.
For more information about Sonoco, visit their official site at www.sonoco.com.
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
Sonoco (NYSE: SON) has announced its quarterly common stock dividend of $0.52 per share, payable on March 10, 2025, to shareholders of record as of February 26, 2025. This marks the company's 399th consecutive quarterly dividend payment and represents the 41st consecutive year of dividend increases. The dividend payment tradition dates back to 1925, spanning 99 years of consistent shareholder returns. Based on Sonoco's stock closing price on February 11, 2025, the dividend yield stands at approximately 4.4%, which is more than double the S&P 500 Index's dividend yield.
Sonoco (NYSE: SON) has announced its quarterly common stock dividend of $0.52 per share, payable on March 10, 2025, to shareholders of record as of February 26, 2025. This marks the company's 399th consecutive quarterly dividend payment, maintaining a 99-year tradition dating back to 1925. The announcement also represents Sonoco's 41st consecutive year of increasing its annualized dividend. Based on the February 11, 2024 closing price, the dividend yield stands at approximately 4.4%, which is more than double the S&P 500 Index's dividend yield.
Sonoco Products Company (NYSE: SON) has announced the election of Scott A. Clark to its Board of Directors as an independent member. Clark, 59, brings 28 years of executive experience from Michelin, where he most recently served as Executive Vice President and Member of Michelin's Group Executive Committee.
Clark's experience includes serving as Chairman and President of Michelin North America and holding various operations and marketing leadership roles across the U.S., France, and Singapore. His career began in consumer-packaged goods marketing at Ralston Purina and Ralcorp Holdings.
The new board member holds a BS in accounting and an MBA in marketing from Washington University's John M. Olin School of Business. He has previously served on boards including TBC , Michelin North America, and industry associations.
Sonoco Products Company (NYSE: SON) has received pre-qualification for How2Recycle® 'Check Locally' label for its EnviroCan® Metal Bottom rigid paper container. The product features a container body made of 100% recycled fiber (90% post-consumer) and a steel bottom, combining sustainability with product safety.
According to a Life Cycle Assessment, recycling this container has a 23.5% lower global warming potential compared to landfilling steel. The metal bottom is made of steel, which sees over 70 million tons of scrap recycled at domestic mills annually, with more than 80% of steel products produced from recycled materials.
The How2Recycle label provides clear recycling instructions for US and Canadian consumers, representing Sonoco's commitment to developing sustainable packaging solutions. The EnviroCan Metal Bottom is available in various sizes for different packaging needs, from snack containers to industrial packages.
Sonoco Products Company (NYSE: SON), a global leader in sustainable packaging, has scheduled its fourth quarter and full year 2024 earnings release for Tuesday, February 18, 2025, after market close. The company will hold a conference call to discuss the results on Wednesday, February 19, 2025, at 8:30 a.m. Eastern Time.
Interested participants can access the live audio webcast and supporting materials through Sonoco's Investor Relations website. A replay of the webcast will be available for at least 30 days following the call. Telephone participants must pre-register to receive unique dial-in details and PIN via email.
Sonoco Products Company (NYSE: SON) announced key leadership changes effective January 3, 2025. Jerry Cheatham, a 36-year finance veteran, has been appointed interim Chief Financial Officer, replacing Rob Dillard. The company is conducting a search for a permanent CFO.
John Florence, current General Counsel and Secretary, has received additional operational responsibilities over the North America Paper division, combining it with the Converted Paper Products division into a single operating unit representing over $1.4 billion in annual net sales in 2023.
Roger Schrum has been named interim Head of Investor Relations, replacing Lisa Weeks, who will depart in January 2025. The company will announce its Q4 and full-year 2024 results on February 18, 2025.
TOPPAN Holdings (TYO: 7911) has agreed to acquire Sonoco's Thermoformed & Flexible Packaging (TFP) business for approximately $1.8 billion on a cash-free and debt-free basis. The acquisition combines Sonoco TFP's robust sales network and customer base in the Americas with TOPPAN Group's technical expertise in global packaging.
Sonoco's TFP, which generated approximately $1.3 billion in revenue in 2023, is a leading provider of thermoformed and flexible packaging serving food, retail, and medical verticals. The transaction is expected to close in the first half of 2025, subject to regulatory approvals.
This acquisition aligns with TOPPAN Group's strategy to become a global leader in sustainable packaging solutions and represents a significant milestone in their global expansion plans.
Sonoco Products Company (NYSE: SON) has announced an agreement to sell its Thermoformed and Flexibles Packaging (TFP) business to TOPPAN Holdings Inc. for approximately $1.8 billion on a cash-free and debt-free basis. The transaction is expected to close in the first half of 2025, subject to regulatory approvals. The net proceeds will be used to repay existing debt.
This strategic move aims to simplify Sonoco's portfolio, streamline organizational structure, and enable more focused capital investments in their remaining industrial paper and consumer packaging businesses. The company will work with Toppan to ensure a smooth transition for employees, customers, and suppliers.
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