Quarterly ResultApr 28, 2026, 08:34 AM
SON Q1 Net Income +24.2% to $67.6M; EPS $0.68; Restructuring Continues
AI Summary
SONOCO PRODUCTS CO (SON) reported a significant increase in net income and EPS for Q1 2026, with net income attributable to Sonoco rising 24.2% to $67.6 million and basic EPS from continuing operations up 36% to $0.68. This occurred despite a slight 1.9% decrease in net sales to $1.68 billion. The company continued its restructuring efforts, incurring $15.1 million in charges, and noted ongoing goodwill impairment risk for certain reporting units.
Key Highlights
- SON Q1 net income attributable to Sonoco increased 24.2% to $67.6 million.
- Basic EPS from continuing operations rose 36% to $0.68.
- Net sales decreased 1.9% to $1.68 billion.
- Net cash used by operating activities increased to $367.9 million.
- Restructuring/Asset impairment charges, net, increased to $15.1 million.
- Declared quarterly dividends of $0.53 and $0.54 per share.
- Goodwill of SMP EMEA and Global Paper Products APAC units at risk of impairment.
- Consumer Packaging restructuring charges increased to $9.1 million.
Price Impact
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