Earnings ·
Sonoco reports Q3 GAAP loss of $7.36 per share on $829M goodwill impairment
SONSonoco Products Co
Sonoco Products Company reported a third-quarter net loss attributable to shareholders of $732 million, or $7.36 diluted earnings per share, driven by an $829 million non-cash goodwill impairment charge in its Consumer EMEA/APAC and Industrial APAC businesses. Adjusted net income was $167 million, or $1.67 per adjusted diluted share, down from $191 million in the prior-year period. Net sales declined 4.2% to $2.0 billion, impacted by the divestiture of ThermoSafe and lower volumes due to adverse weather conditions. The company also provided revised full-year 2026 guidance, targeting adjusted EPS between $5.30 and $5.50 and operating cash flow of $600 million to $650 million. Sonoco is a global packaging company providing industrial and consumer packaging solutions.