Recent Updates — SON
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.
On September 25, 2026, Sonoco Products Company entered into a first amendment to its credit agreement, establishing new term loan facilities totaling $800 million. The company borrowed $500 million on the closing date, consisting of a $400 million Tranche A term loan maturing December 31, 2029, and a $100 million draw from a $400 million delayed-draw Tranche B facility maturing December 31, 2031. The proceeds were used to refinance an existing $500 million syndicated term loan scheduled for August 2028 maturity. Sonoco retains the right to borrow the remaining $300 million of the Tranche B facility in up to three draws over the next 12 months, with future use intended for additional debt refinancing.
Sonoco Products Company announced an organizational restructuring of its Global Consumer Packaging businesses under a single integrated leadership structure reporting to Ernest Haynes, who was named President of this segment generating approximately $5.2 billion in annual sales. Sean Cairns, President of Sonoco EMEA/APAC, is departing the company after 17 years with Sonoco and 30 years in the industry. The Global Consumer Packaging segment comprises roughly 98 operations in 25 countries and employs 11,250 people serving major consumer brands. Sonoco Products Company operates as a global leader in value-added, sustainable metal and paper consumer and industrial packaging.
Sonoco Products Company reported second quarter 2026 results with net sales of $1.9 billion, down 1.3% year-over-year, and adjusted diluted earnings per share of $1.51. The company reaffirmed its full-year 2026 guidance for sales, adjusted EBITDA, adjusted EPS, and operating cash flow. Sonoco Products Company is a global packaging company providing various packaging solutions for consumer and industrial segments.