SONOCO PRODUCTS CO

Sonoco Products Co. reported a net loss of $(732) million, or $(7.36) per diluted share, for the third quarter of 2026, primarily due to a non-cash goodwill impairment charge of $(829) million. Adjusted net income was $167 million, or $1.67 per adjusted diluted share, a decrease from the prior year. Net sales for the quarter were $2.0 billion, down 4.2% year-over-year. The company also revised its full-year 2026 guidance.

Sonoco Products Company announced a significant update to the organizational structure of its Global Consumer Packaging businesses, consolidating them under a single integrated leadership. Ernest Haynes has been appointed President of Global Consumer Packaging, overseeing the company's largest global business with $5.2 billion in annual sales. This restructuring is intended to enhance operational efficiency, collaboration, and innovation. Additionally, Sean Cairns, President of Sonoco EMEA/APAC, is departing the company.

Sonoco Products Company announced continued investment to expand its Wood Reels manufacturing and assembly footprint. The company has invested over $25 million since 2024 to meet surging demand for power and communications cable packaging, driven by AI data center growth and power grid modernization. These investments have increased manufacturing capacity and footprint by more than 30% across its Hartselle, Alabama, and Jefferson, Texas sites.

Sonoco Products Company reported Q2 2026 diluted EPS from continuing operations of $1.05, a significant increase from $0.69 in Q2 2025, despite a slight decrease in net sales to $1.89 billion. For the first six months of 2026, diluted EPS from continuing operations rose to $1.73, while net sales were $3.56 billion. The company incurred $17.07 million in restructuring and asset impairment charges during the first half of the year and declared a quarterly dividend of $0.54 per share.

Sonoco Products Company reported second-quarter 2026 financial results, with adjusted diluted EPS increasing by 10.2% to $1.51 and adjusted net income rising 10.6% to $151 million. Net sales were $1.9 billion, a 1.3% decrease, primarily due to the ThermoSafe business divestiture. The company achieved a record operating cash flow of $301 million and reaffirmed its full-year 2026 guidance for sales, adjusted EBITDA, adjusted EPS, and operating cash flow, despite a significant GAAP net income decline compared to the prior year which included a large divestiture gain.

Sonoco Products Company's Board of Directors has declared a quarterly common stock dividend of $0.54 per share. This dividend is payable on September 10, 2026, to shareholders of record as of August 10, 2026. This marks the 405th consecutive quarter the company has paid dividends and the 43rd consecutive year of annual dividend increases, offering an approximate 4.0% yield.

Sonoco Products Company announced a price increase for its uncoated recycled paperboard (URB) and converted paperboard products. Effective July 8, 2026, URB prices will rise by $60 per ton in the U.S. and Canada, while converted paperboard products will see a 7% increase. The company cited robust demand, strong mill utilization, and elevated inflationary pressures as reasons for the necessary adjustments to cover increased operating costs and ensure reliable supply.

Sonoco Products Company released its 2025 Corporate Sustainability Report, detailing significant progress in renewable energy and sustainable business practices. The report highlights the completion of the company's transformation in 2025, establishing market-leading franchises in metal and paper packaging. Sonoco achieved a reduction of approximately 15,000 metric tons of CO₂e emissions through 17 energy efficiency projects and reiterated its commitment to reduce Scope 1 and 2 emissions by 25% by 2030 and Scope 3 by 13.5%.

Aditya Gandhi, Sonoco's Chief Accounting Officer, informed the company of his resignation, effective May 29, 2026. His departure was not due to any disagreements with the company's operations, policies, or accounting practices. Paul Joachimczyk, the current Chief Financial Officer, will temporarily take over the responsibilities of principal accounting officer until a successor is appointed.

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.