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 leader in diversified packaging solutions serving consumer goods, industrial, and retail markets. This news hub provides investors and industry professionals with comprehensive coverage of Sonoco's strategic developments, operational updates, and sustainability initiatives.
Track critical updates including quarterly earnings reports, packaging innovation announcements, sustainability achievements, and strategic partnerships. Our curated collection features official press releases, market analyses, and regulatory filings to help stakeholders monitor Sonoco's position in the competitive packaging sector.
Key focus areas include advancements in recyclable materials, manufacturing efficiency improvements, and expansion of the company's global supply chain capabilities. Regular updates cover Sonoco's progress in meeting environmental goals while maintaining its leadership in paperboard containers and protective packaging solutions.
Bookmark this page for real-time updates on SON's business performance, including developments in food-safe packaging technologies and industrial packaging applications. Stay informed about this packaging innovator's responses to evolving market demands and regulatory changes affecting the global container industry.
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.
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.
