{"success":true,"data":{"pressRelease":{"id":"176218","rtpr_id":"nGNX5bFfJq-20261021","ticker":"SON","exchange":"NYSE","all_tickers":["SON"],"title":"Sonoco Reports Third Quarter 2026 Results","author":"Globe Newswire","published_at":"2026-10-21T21:00:00.847Z","article_body":"HARTSVILLE, S.C., Oct. 21, 2026 (GLOBE NEWSWIRE) -- Sonoco Products Company\n(“Sonoco” or the “Company”) (NYSE: SON), a Mid-cap Value global\npackaging company, today reported financial results for the third quarter\nended September 27, 2026.\n\nSummary:\n* Net sales in the third quarter were $2.0 billion. Excluding divestitures,\nnet sales were essentially flat\n* Reported GAAP net loss of $(732) million, or $(7.36) diluted earnings per\nshare, reflecting a non-cash goodwill impairment charge of $(829) million\nattributable to the Consumer EMEA/APAC and Industrial APAC businesses,\ncompared to GAAP net income of $123 million, or $1.23 diluted earnings per\nshare, in the same period in 2025\n* Third quarter adjusted net income was $167 million or $1.67 per adjusted\ndiluted share, compared to $191 million or $1.92 per adjusted diluted share in\nthe same period in 2025\n* Generated operating cash flow of $285 million in the third quarter, and\nprovided $218 million of operating cash flow year-to-date, which was net of\napproximately $103 million in one-time taxes paid in 2026 on gains from the\nsales of the divested TFP and ThermoSafe businesses in 2025\n Third Quarter 2026 Consolidated Results \n (Dollars in millions except per share data) \n \n Three Months Ended Nine Months Ended \n GAAP Results September 27, 2026 September 28, 2025 Change September 27, 2026 September 28, 2025 Change \n Net sales (1) $ 2,042 $ 2,131 (4.2)% $ 5,604 $ 5,751 (2.6)% \n Net sales related to discontinued operations — — — 321 \n Operating (loss)/profit (1) (638 ) 195 (427.2)% (318 ) 497 (163.9)% \n Operating profit related to discontinued operations — — — 664 \n Net (loss)/income attributable to Sonoco (732 ) 123 (695.6)% (560 ) 671 (183.4)% \n EPS (diluted) (7.36 ) 1.23 (698.4)% (5.63 ) 6.74 (183.5)% \n\n\n\n \n Three Months Ended Nine Months Ended \n Non-GAAP Results (2) September 27, 2026 September 28, 2025 Change September 27, 2026 September 28, 2025 Change \n Adjusted operating profit (1) $ 268 $ 308 (13.1)% $ 711 $ 768 (7.4)% \n Adjusted EBITDA 352 386 (9.0)% 952 1,052 (9.5)% \n Adjusted net income attributable to Sonoco 167 191 (12.5)% 437 464 (5.8)% \n Adjusted EPS (diluted) 1.67 1.92 (13.0)% 4.38 4.66 (6.0)% \n (1)Excludes results of discontinued operations. \n (2)See the Company’s definitions of non-GAAP financial measures, explanations as to why they are used, and reconciliations to the most directly comparable GAAP financial measures later in this release. \n* Third quarter 2026 net sales of $2.0 billion were down (4.2)% compared to\nthe corresponding prior-year quarter, driven primarily by the November 3, 2025\ndivestiture of the ThermoSafe business. Net sales benefited from higher\nselling prices implemented to offset the effects of inflation and tariffs,\nwhich was partially offset by lower volume/mix. \n\n\n* GAAP operating loss for the third quarter was $(638) million, which includes\nnon-cash goodwill impairment charges of $(802) million and $(27) million,\nattributable to the Consumer Packaging segment’s EMEA/APAC businesses and\nthe Industrial Paper Packaging segment’s APAC business, respectively, for a\ntotal non-cash goodwill impairment charge of $(829) million. In addition to\nthis charge, solid productivity savings stemming from fixed cost reduction\ninitiatives and procurement savings were more than offset by significant\nprice/cost headwinds and lower volume/mix.\n\n\n* Effective tax rates on GAAP income from continuing operations before income\ntaxes and adjusted income from continuing operations before income taxes, were\n(6.4)% and 24.6%, respectively, in the third quarter, compared to 6.0% and\n22.9%, respectively, in the same period in 2025.\n“During the third quarter, our businesses faced a combination of external\nchallenges. Drought conditions across parts of Europe and the U.S. impacted\ncrop yields and pressured food can demand, while the impact of inflation on\nraw materials, freight, energy, and other operating costs exceeded our\nexpectations. Through strong productivity initiatives and rigorous cost\ncontrol, our teams were able to mitigate a significant portion of this impact\nand deliver resilient operating results,” said Howard Coker, President and\nChief Executive Officer.\n\n“Our Industrial Paper Packaging segment delivered another strong quarter,\nwith results essentially in line with the second quarter despite a challenging\noperating environment. Productivity improvements remained a key driver of\nperformance, while North America URB trade ton sales increased 10% year over\nyear and mill utilization remained strong at 94%. Segment volume/mix was\nmodestly positive, and additional URB pricing realized in September positions\nus to further offset inflationary pressures.”\n\n“Results in Consumer Packaging fell short of expectations, as volume/mix\ndeclined 3% year over year due primarily to adverse weather conditions and\nunfavorable price/cost dynamics. Encouragingly, international paper can\noperations performed well, with double-digit volume growth year over year\ndriven by sustained demand for snack products across emerging markets.”\n\nPaul Joachimczyk, Sonoco’s Chief Financial Officer, added, “Our businesses\nonce again generated strong operating cash flow in the third quarter,\ndelivering $285 million despite seasonal working capital headwinds.\nYear-to-date operating cash flow includes $103 million of one-time tax\npayments related to gains on our 2025 divestitures. We continued to strengthen\nour balance sheet during the quarter, reducing total debt and net debt by $162\nmillion and $176 million, respectively, while successfully refinancing an $800\nmillion term loan. The refinancing extends our maturity profile and enhances\nour financial flexibility, positioning us well to continue executing our\ncapital allocation priorities while maintaining our investment grade credit\nratings.”\n\nThird Quarter 2026 Segment Results\n(Dollars in millions except per share data)\n\nSonoco reports its financial results in two reportable segments: Consumer\nPackaging (“Consumer”) and Industrial Paper Packaging (“Industrial”).\n\nAs previously announced, effective January 1, 2026, results of the Company’s\nindustrial and specialty plastics business (“Industrial Plastics”), the\nonly business remaining in the All Other group of businesses following the\nNovember 2025 divestiture of ThermoSafe, are now included in the Industrial\nsegment. Therefore, the Company no longer provides results of the All Other\ngroup of businesses.\n\n Three Months Ended Nine Months Ended \n Consumer September 27, 2026 September 28, 2025 Change September 27, 2026 September 28, 2025 Change \n \n Net sales (1) $ 1,396 $ 1,438 (2.9)% $ 3,735 $ 3,732 0.1 % \n Segment operating profit (1) $ 179 $ 209 (14.6)% $ 456 $ 510 (10.6)% \n Segment operating profit margin (1) 12.8 % 14.5 % 12.2 % 13.7 % \n Segment Adjusted EBITDA (1, 2) $ 237 $ 260 (8.8)% $ 620 $ 663 (6.4)% \n Segment Adjusted EBITDA margin (1, 2) 17.0 % 18.0 % 16.6 % 17.8 % \n* Consumer segment net sales were down (2.9)%, as adverse weather conditions\nimpacted seasonal vegetable harvests in EMEA and Americas reducing metal cans\nvolumes. This headwind more than offset pricing actions implemented to recover\ninflation and tariff-related costs, along with the negative impact of foreign\nexchange.\n* Segment operating profit and adjusted EBITDA declined as strong productivity\nsavings and cost containment actions were more than offset by inflation-driven\nprice/cost headwinds and the previously described negative volume/mix.\n Three Months Ended Nine Months Ended \n Industrial September 27, 2026 September 28, 2025 Change September 27, 2026 September 28, 2025 Change \n \n Net sales (3) $ 646 $ 614 5.2 % $ 1,869 $ 1,819 2.7 % \n Segment operating profit (3) $ 88 $ 94 (6.2)% $ 247 $ 256 (3.7)% \n Segment operating profit margin 13.6 % 15.3 % 13.2 % 14.1 % \n Segment Adjusted EBITDA (2, 3 ) $ 122 $ 127 (4.6)% $ 344 $ 354 (2.9)% \n Segment Adjusted EBITDA margin (2 ) 18.8 % 20.8 % 18.4 % 19.4 % \n* Industrial segment net sales increased 5.2% to $646 million, primarily due\nto successful pricing actions implemented to help offset rising costs.\n* Segment operating profit and adjusted EBITDA declined as pricing actions and\nproductivity initiatives were more than offset by rising raw material, freight\nand energy costs. Operating margin remained resilient at 13.6%, compared with\nthe second quarter but down from a record 2025 third quarter, while adjusted\nEBITDA margin was 18.8%.\n(1 )Excludes results of discontinued operations.\n(2 )Segment adjusted EBITDA and adjusted EBITDA margin are non-GAAP financial\nmeasures. See the Company’s reconciliations of these non-GAAP financial\nmeasures to the most directly comparable GAAP financial measures later in this\nrelease.\n(3 )Net sales, segment operating profit, and segment adjusted EBITDA for the\nthree months ended September 28, 2025 include results from Industrial Plastics\nof $29 million, $4 million, and $5 million, respectively, previously included\nin All Other, to provide clearer year-over-year comparisons.\n\nBalance Sheet and Cash Flow Highlights\n* The Company maintained strong liquidity of $1.3 billion at September 27,\n2026, consisting of $1.1 billion of available borrowing capacity under its\nrevolving credit facility and cash on hand.\n* Cash and cash equivalents were $183 million as of September 27, 2026,\ncompared to $378 million, as of December 31, 2025.\n* Total debt and net debt were $4.3 billion and $4.1 billion, respectively, as\nof September 27, 2026, primarily reflecting seasonal working capital\nrequirements within the Company's metal packaging business.\n* Year-to-date cash flow from operating activities for the period ended\nSeptember 27, 2026 provided $218 million, compared to $277 million in the\nsame period of 2025. The main drivers of the year-over-year change in\noperating cash flow were a one-time payment of taxes in 2026 on the gains from\nthe 2025 divestitures of the TFP and ThermoSafe businesses and the seasonal\nneed for working capital for the Company’s metal packaging business.\n* Capital expenditures, net of proceeds from sales of fixed assets, for 2026\nwere $175 million, compared to $248 million last year.\n* Free Cash Flow for the period ended September 27, 2026 improved to $43\nmillion compared to $29 million in the same period in 2025, reflecting the\nfactors impacting operating cash flow discussed above.\n* The Company returned $159 million to shareholders through dividends during\nthe first nine months of 2026, compared to $156 million in the prior year\nperiod.\n* On September 25, 2026, Sonoco amended a credit agreement, resulting in the\naddition of $800 million in new term loan facilities. The Company drew $500\nmillion from the new facilities to refinance an existing $500 million term\nloan which was to mature in 2028. The Company retained $300 million in\ndelayed-draw term loan capacity, which it can use within 12 months.\nGuidance((1) )        \n\nRevised Full-Year 2026\n* Net Sales: $7.20 billion to $7.40 billion\n* Adjusted EPS((2)): Targeting diluted earnings per share between $5.30 to\n$5.50\n* Adjusted EBITDA((2)): Targeting $1.20 billion to $1.25 billion\n* Cash flow from operating activities: Guidance adjusted to $600 million to\n$650 million, including the effect of payments of prior year taxes on gains\nfrom divestitures and restructuring costs\nCommenting on Sonoco’s outlook, Howard Coker said, “While our\nthird-quarter performance fell short of our expectations, we are taking\ntargeted actions through our Profitability Performance Plan to further reduce\ncosts, improve productivity and address the impact of inflationary pressures.\nWe believe these efforts will better position the Company when market\nconditions improve. We remain confident in our value-added packaging strategy,\nour market-leading portfolio of industrial and consumer assets, and the\nability of our customer- and quality-focused employees to execute through\neconomic cycles.”\n\nJoachimczyk added, “In the fourth quarter of 2026, we expect continued\nstrong performance from our Industrial segment, supported by continued robust\nURB demand in North America. We also anticipate more stable performance from\nour Consumer segment, driven by continued growth in international paper cans\nand a more balanced performance in aerosol and food can volumes. Finally,\nrecovering raw material, freight, energy, and other operating costs remains a\nkey priority as we close out 2026 and head into 2027.”\n\n((1))Although the Company believes the assumptions reflected in the range of\nguidance are reasonable, given the uncertainty regarding the future\nperformance of the overall economy, the effects of tariffs, trade policy and\ninflation, the challenges in global supply chains, potential changes in raw\nmaterial prices, other costs, and the Company’s effective tax rate, as well\nas other risks and uncertainties, including those related to the integration\nof Eviosys and those described below, actual results could vary substantially.\nFurther information can be found in the section entitled “Forward-looking\nStatements” in this release.\n\n((2) )Full year 2026 GAAP guidance is not provided in this release due to the\nlikely occurrence of one or more of the following, the timing and magnitude of\nwhich we are unable to reliably forecast without unreasonable efforts:\nrestructuring costs and restructuring-related impairment charges,\nacquisition/divestiture-related costs, gains or losses from the sale of\nbusinesses and the income tax effects of these items and/or other income\ntax-related events. These items could have a significant impact on the\nCompany’s future GAAP financial results. Accordingly, quantitative\nreconciliations of Adjusted EPS and Adjusted EBITDA guidance to the nearest\ncomparable GAAP measures have been omitted in reliance on the exception\nprovided by Item 10 of Regulation S-K.        \n\nAbout Sonoco\nSonoco (NYSE: SON) is a Mid-cap Value global packaging company. With sales of\n$7.5 billion from continuing operations in 2025, the Company has approximately\n22,000 employees working in 265 operations in 37 countries, serving some of\nthe world’s best-known brands. Guided by our purpose of Better Packaging.\nBetter Life., we strive to foster a culture of innovation, collaboration and\nexcellence to provide solutions that better serve all our stakeholders and\nsupport a more sustainable future. A Fortune 500 company, Sonoco was proudly\nnamed one of the World’s Most Admired Companies by Fortune in 2026 as well\nas one of America’s Most Trustworthy and Responsible Companies by Newsweek\nand USA Today’s Climate Leaders in 2025. For more information on the\nCompany, visit our website at www.sonoco.com. \n\nForward-looking Statements\n\nStatements included herein that are not historical in nature, are intended to\nbe, and are hereby identified as “forward- looking statements” for\npurposes of the safe harbor provided by Section 21E of the Securities Exchange\nAct of 1934, as amended. In addition, the Company and its representatives may\nfrom time to time make other oral or written statements that are also\n“forward-looking statements.” Words such as “achieve,”\n“anticipate,” “believe,” “can,” “continue,” “continuing,”\n“could,” “deliver,” “enhance,” “expect,” “forecast,”\n“focus,” “future,” “goal,” “guidance,” “improvement,”\n“likely,” “may,” “might,” “ongoing,” “outlook,”\n“plan,” “position,” “projected,” “remain,” “seek,”\n“should,” “strategy,” “target,” “will,” “would,”\n“working,” or the negative thereof, and similar expressions identify\nforward-looking statements.\n\nForward-looking statements in this communication include statements regarding,\nbut not limited to: the Company’s future operating and financial\nperformance, including full year 2026 outlook and the anticipated drivers\nthereof and cash flow in 2026; the expected benefits of refinancing debt,\nincluding the Company’s ability to continue executing on its capital\nallocation priorities while maintaining its investment grade credit ratings;\nthe Company’s ability to reduce costs, improve productivity and address the\nimpact of inflationary pressures, including through its profitability\nperformance plan, and the expected benefits thereof; the Company’s ability\nto execute through economic cycles, including as a result of its packaging\nstrategy, its portfolio of industrial and consumer assets, and the ability of\nits customer- and quality-focused employees; the continued strong performance\nof the Company’s Industrial segment in the fourth quarter of 2026 and the\nanticipated drivers thereof; the performance of the Company’s Consumer\nsegment and the anticipated drivers thereof; the continued focus on recovering\nraw material, freight, energy and other operating costs; and the effects of\nthe changing macroeconomic and geopolitical environment, including trade\npolicies and tariffs, market conditions, inflation and interest costs on the\nCompany, its supply chain and its customers, and the Company’s ability to\nmanage risks related thereto.\n\nSuch forward-looking statements are based on current expectations, estimates\nand projections about our industry, management’s beliefs and certain\nassumptions made by management. Such information includes, without limitation,\ndiscussions as to guidance and other estimates, perceived opportunities,\nexpectations, beliefs, plans, strategies, goals and objectives concerning our\nfuture financial and operating performance. These statements are not\nguarantees of future performance and are subject to certain risks,\nuncertainties and assumptions that are difficult to predict.\n\nTherefore, actual results may differ materially from those expressed or\nforecasted in such forward-looking statements.\n\nSuch risks, uncertainties and assumptions include, without limitation, those\nrelated to: the Company’s ability to execute on its strategy, including with\nrespect to the integration of the Eviosys operations, divestitures, cost\nmanagement, productivity improvements, restructuring and capital expenditures,\nand achieve the benefits it expects therefrom; conditions in the credit\nmarkets; the ability to retain key employees and successfully integrate\nEviosys; the ability to realize estimated cost savings, synergies or other\nanticipated benefits of the Eviosys acquisition, or that such benefits may\ntake longer to realize than expected; diversion of management’s attention;\nthe potential impact of the consummation of the Eviosys acquisition on\nrelationships with clients and other third parties; lower-than-projected\nfinancial performance of the Company’s European business, including as a\nresult of loss or reduction in business from key customers, changes in our\npricing model, or adverse changes in the macroeconomic or competitive\nenvironment in European markets; risks related to the impairment of goodwill\nand other intangibles; the operation of new manufacturing capabilities; the\nCompany’s ability to achieve anticipated cost and energy savings; the\navailability, transportation and pricing of raw materials, energy and\ntransportation, including the impact of changes in tariff or other trade\npolicies or sanctions and escalating trade wars, and the impact of war,\ngeneral regional instability and other geopolitical tensions (such as the\nongoing conflicts between Russia and Ukraine and in the Middle East, the\npotential escalation of tensions between China and Taiwan and recent events in\nVenezuela), and the Company’s ability to continue to pass raw material,\nenergy and transportation price increases and surcharges through to customers\nor otherwise manage these commodity pricing risks; the costs of labor; the\neffects of inflation, changes related to tariffs or other trade policies and\nglobal regulations, as well as the overall uncertainty surrounding\ninternational trade relations; fluctuations in consumer demand, volume\nsoftness, and other macroeconomic factors on the Company and the industries in\nwhich it operates and that it serves; the impact of changing laws and\nregulations, in the United States, on the Company; the Company’s ability to\nmeet its environmental, sustainability and similar goals and other social and\ngovernance goals, including challenges in implementation thereof; natural\ndisasters, severe weather events, and other unexpected disruptions to facility\noperations; and the other risks, uncertainties and assumptions discussed in\nthe Company’s filings with the Securities and Exchange Commission, including\nits most recent reports on Forms 10-K and 10-Q, particularly under the heading\n“Risk Factors.” The Company undertakes no obligation to publicly update or\nrevise forward-looking statements, whether as a result of new information,\nfuture events or otherwise. In light of these risks, uncertainties and\nassumptions, the forward-looking events discussed herein might not occur.\n\nReferences to our Website Address\n\nReferences to our website address and domain names throughout this release are\nfor informational purposes only, or to fulfill specific disclosure\nrequirements of the Securities and Exchange Commission’s rules or the New\nYork Stock Exchange Listing Standards. These references are not intended to,\nand do not, incorporate the contents of our website by reference into this\nrelease.\n\nEarnings Conference Call Webcast\nSonoco’s management will host a conference call to discuss its third quarter\n2026 results on Thursday, October 22, 2026, at 8:00 a.m. Eastern Time. The\nCompany will provide prepared remarks, a presentation and host a\nquestion-and-answer session during the call. A live audio webcast of the call\nalong with supporting materials will be available on the Sonoco Investor\nRelations website at https://investor.sonoco.com/. A webcast replay will be\navailable on the Company’s website for at least 30 days following the call.\n\n \n Time: Thursday, October 22, 2026, at 8:00 a.m. Eastern Time \n \n Audience To listen via telephone, please register in advance at: \n Dial-In: https://events.q4inc.com/analyst/818434126?pwd=xd1mxKQr \n \n After registration, all telephone participants will receive the dial-in number along with a unique PIN number that can be used to access the call. \n \n Webcast Link: https://events.q4inc.com/attendee/616781198 \n\n\n\nContact Information: \nRoger Schrum\nHead of Investor Relations and Communications\nroger.schrum@sonoco.com \n843-339-6018\n\n CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) \n (Dollars and shares in thousands except per share data) \n \n Three Months Ended Nine Months Ended \n September 27, 2026 September 28, 2025 September 27, 2026 September 28, 2025 \n Net sales $ 2,041,575 $ 2,131,108 $ 5,603,502 $ 5,750,777 \n Cost of sales 1,636,255 1,663,757 4,460,177 4,523,462 \n Gross profit 405,320 467,351 1,143,325 1,227,315 \n Selling, general and administrative expenses 186,841 220,966 588,626 648,804 \n Restructuring/Asset impairment charges, net 856,435 48,388 873,501 71,721 \n (Loss)/Gain on divestiture of business — (3,031 ) 775 (9,297 ) \n Operating (loss)/profit (637,956 ) 194,966 (318,027 ) 497,493 \n Non-operating pension costs 2,749 3,054 8,165 9,157 \n Interest expense 46,665 61,243 136,637 181,637 \n Interest income 5,223 4,634 17,938 16,104 \n Other expense, net (8,271 ) (7,541 ) (26,770 ) (20,617 ) \n (Loss)/Income from continuing operations before income taxes (690,418 ) 127,762 (471,661 ) 302,186 \n Provision for income taxes 44,138 7,717 93,199 68,364 \n (Loss)/Income before equity in earnings of affiliates (734,556 ) 120,045 (564,860 ) 233,822 \n Equity in earnings of affiliates, net of tax 2,689 3,020 5,642 7,211 \n Net (loss)/income from continuing operations (731,867 ) 123,065 (559,218 ) 241,033 \n Net income from discontinued operations — — — 429,720 \n Net (loss)/income (731,867 ) 123,065 (559,218 ) 670,753 \n Net (income)/loss from continuing operations attributable to noncontrolling interests (235 ) (147 ) (389 ) 17 \n Net (loss)/income attributable to Sonoco $ (732,102 ) $ 122,918 $ (559,607 ) $ 670,770 \n \n Weighted average common shares outstanding – diluted 99,502 99,648 99,432 99,519 \n \n Diluted (loss)/earnings from continuing operations per common share $ (7.36 ) $ 1.23 $ (5.63 ) $ 2.42 \n Diluted earnings from discontinued operations per common share — — — 4.32 \n Diluted (loss)/earnings attributable to Sonoco per common share $ (7.36 ) $ 1.23 $ (5.63 ) $ 6.74 \n Dividends per common share $ 0.54 $ 0.53 $ 1.61 $ 1.58 \n\n\n\n CONDENSED STATEMENTS OF INCOME FOR DISCONTINUED OPERATIONS (Unaudited) \n (Dollars and shares in thousands except per share data) \n \n Three Months Ended Nine Months Ended \n September 28, 2025 September 28, 2025 \n \n Net sales $ — $ 320,678 \n Cost of sales — 250,854 \n Gross profit — 69,824 \n Selling, general, and administrative expenses — 31,607 \n Restructuring/Asset impairment charges, net — 426 \n Gain on divestiture of business — 625,773 \n Operating profit — 663,564 \n Other expense, net — 182 \n Interest expense — 24,911 \n Interest income — 281 \n Income from discontinued operations before income taxes — 638,752 \n Provision for income taxes — 209,032 \n Net income from discontinued operations — 429,720 \n Net income from discontinued operations attributable to noncontrolling interests — — \n Net income attributable to discontinued operations $ — $ 429,720 \n Weighted average common shares outstanding – diluted 99,648 99,519 \n Diluted earnings from discontinued operations per common share $ — $ 4.32 \n\n\n\n FINANCIAL SEGMENT INFORMATION (Unaudited) \n (Dollars in thousands) \n \n Three Months Ended Nine Months Ended \n September 27, 2026 September 28, 2025 September 27, 2026 September 28, 2025 \n Net sales: \n Consumer Packaging $ 1,396,012 $ 1,438,246 $ 3,734,926 $ 3,731,872 \n Industrial Paper Packaging 645,563 613,611 1,868,576 1,818,804 \n Total reportable segments 2,041,575 2,051,857 5,603,502 5,550,676 \n All Other — 79,251 — 200,101 \n Net sales $ 2,041,575 $ 2,131,108 $ 5,603,502 $ 5,750,777 \n \n \n Operating profit: \n Consumer Packaging $ 178,563 $ 208,985 $ 455,917 $ 510,109 \n Industrial Paper Packaging 87,973 93,773 246,598 256,038 \n Segment operating profit 266,536 302,758 702,515 766,147 \n All Other — 14,386 — 29,511 \n Corporate \n Restructuring/Asset impairment charges, net (856,435 ) (48,388 ) (873,501 ) (71,721 ) \n Amortization of acquisition intangibles (45,633 ) (49,034 ) (135,523 ) (135,188 ) \n Gain/(Loss) on divestiture of business — (3,031 ) 775 (9,297 ) \n Acquisition, integration, and divestiture-related costs (2,161 ) (9,318 ) (10,582 ) (47,745 ) \n Other operating charges, net (263 ) (12,407 ) (1,711 ) (34,214 ) \n Operating (loss)/profit $ (637,956 ) $ 194,966 $ (318,027 ) $ 497,493 \n\n2025 consolidated “net sales,” “operating profit,” and Consumer\nPackaging “segment operating profit” do not include results of the\nCompany’s Thermoformed and Flexibles Packaging business and global Trident\nbusiness (collectively, “TFP”), which was sold in April 2025 and is\naccounted for as discontinued operations in periods prior to the sale.\n\n\n\n CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) \n (Dollars in thousands) \n \n Nine Months Ended \n September 27, 2026 September 28, 2025 \n \n Net (loss)/income $ (559,218 ) $ 670,753 \n Net loss/(gain) on divestiture of business, disposition of assets, and asset impairments 842,991 (601,304 ) \n Depreciation and amortization 390,982 382,623 \n Pension and postretirement plan contributions, net of non-cash expense (5,309 ) (3,589 ) \n Changes in working capital (304,721 ) (299,650 ) \n Changes in tax accounts (93,987 ) 127,412 \n Other operating activity (53,190 ) 651 \n Net cash provided by operating activities 217,548 276,896 \n \n Purchases of property, plant and equipment, net (174,905 ) (248,251 ) \n Proceeds from the sale of business, net (1) (13,076 ) 1,814,899 \n Cost of acquisitions, net of cash acquired (2) — 16,528 \n Net debt repayments (50,598 ) (1,938,409 ) \n Cash dividends (159,182 ) (155,767 ) \n Payments for share repurchases (7,192 ) (10,580 ) \n Other (outflow)/inflow, including effects of exchange rates on cash (7,892 ) 47,490 \n Net decrease in cash and cash equivalents (195,297 ) (197,194 ) \n Cash and cash equivalents at beginning of period 378,398 443,060 \n Cash and cash equivalents at end of period $ 183,101 $ 245,866 \n (1)2026 includes payments of $15,211 and $1,865 to the buyers of TFP and ThermoSafe, respectively, for final net working capital settlements on these 2025 divestitures. \n (2)2025 includes a cash receipt of $16,528 for the final net working capital settlement related to the 2024 acquisition of Eviosys. \n\n\n\n CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) \n (Dollars in thousands) \n September 27, 2026 December 31, 2025 \n Assets \n Current Assets: \n Cash and cash equivalents $ 183,101 $ 378,398 \n Trade accounts receivable, net of allowances 1,117,958 842,810 \n Other receivables 152,736 178,755 \n Inventories, net 1,204,570 1,121,009 \n Prepaid expenses 149,661 125,352 \n Total Current Assets 2,808,026 2,646,324 \n Property, plant and equipment, net 2,658,234 2,797,800 \n Goodwill 1,646,258 2,511,611 \n Other intangible assets, net 2,485,874 2,683,474 \n Right of use asset-operating leases 307,740 307,450 \n Deferred income taxes and other assets 228,809 215,675 \n Total Assets $ 10,134,941 $ 11,162,334 \n Liabilities and Equity \n Current Liabilities: \n Payable to suppliers, accrued expenses and other payables $ 1,803,816 $ 1,861,904 \n Notes payable and current portion of long-term debt 510,041 537,952 \n Accrued taxes 69,218 128,821 \n Total Current Liabilities 2,383,075 2,528,677 \n Long-term debt, net of current portion 3,781,625 3,788,973 \n Noncurrent operating lease liabilities 263,779 263,192 \n Pension and other postretirement benefits 166,115 177,976 \n Deferred income taxes and other liabilities 721,084 771,684 \n Total Liabilities 7,315,678 7,530,502 \n Total Equity 2,819,263 3,631,832 \n Total Liabilities and Equity $ 10,134,941 $ 11,162,334 \n\n\n\nNON-GAAP FINANCIAL MEASURES\n\nThe Company’s results, determined in accordance with U.S. generally accepted\naccounting principles, are referred to as “as reported” or “GAAP”\nresults. The Company uses certain financial performance measures, both\ninternally and externally, that are not in conformity with GAAP (referred to\nas “non-GAAP financial measures”) to assess and communicate the financial\nperformance of the Company. These non-GAAP financial measures, which are\nidentified using the term “Adjusted” (for example, “Adjusted Operating\nProfit,” “Adjusted Net Income Attributable to Sonoco,” and “Adjusted\nDiluted EPS”), reflect adjustments to the Company’s GAAP operating results\nto exclude amounts, including the associated tax effects where applicable,\nrelating to:\n* restructuring/asset impairment charges(1);\n* acquisition, integration and divestiture-related costs;\n* gains or losses from the divestiture of businesses;\n* losses from the early extinguishment of debt;\n* non-operating pension costs;\n* amortization expense on acquisition intangibles;\n* changes in last-in, first-out (“LIFO”) inventory reserves;\n* certain income tax events and adjustments;\n* derivative gains/losses;\n* other non-operating income and losses; and\n* certain other items, if any.\n(1)Restructuring and restructuring-related asset impairment charges are a\nrecurring item as the Company’s restructuring programs usually require\nseveral years to fully implement, and the Company is continually seeking to\ntake actions that could enhance its efficiency. Although recurring, these\ncharges are subject to significant fluctuations from period to period due to\nthe varying levels of restructuring activity, the inherent imprecision in the\nestimates used to recognize the impairment of assets, and the wide variety of\ncosts and taxes associated with severance and termination benefits in the\ncountries in which the restructuring actions occur.\n\nThe Company’s management believes the exclusion of the amounts related to\nthe above-listed items improves the period-to-period comparability and\nanalysis of the underlying financial performance of the business.\n\nIn addition to the “Adjusted” results described above, the Company also\nuses Adjusted EBITDA, Segment Adjusted EBITDA, Segment Adjusted EBITDA Margin,\nand Net Debt. Adjusted EBITDA is defined as net income excluding the\nfollowing: interest expense; interest income; provision for income taxes;\ndepreciation and amortization expense; non-operating pension costs; net\nincome/loss attributable to noncontrolling interests; restructuring/asset\nimpairment charges; changes in LIFO inventory reserves; gains/losses from the\ndivestiture of businesses; acquisition, integration and divestiture-related\ncosts; other income; derivative gains/losses; and other non-GAAP adjustments,\nif any, that may arise from time to time. Segment Adjusted EBITDA is defined\nas segment operating profit plus depreciation and amortization expense and\nequity in earnings of affiliates, net of tax. Segment Adjusted EBITDA Margin\nis defined as Segment Adjusted EBITDA divided by segment net sales. Net Debt\nis defined as the total of the Company’s short and long-term debt less cash\nand cash equivalents.\n\nSegment Adjusted EBITDA is reconciled to the closest GAAP measure of segment\nprofitability, segment operating profit as the Company does not calculate net\nincome by segment. Segment operating profit is the measure of segment profit\nor loss reported to the chief operating decision maker for purposes of making\ndecisions about allocating resources to the segments and assessing their\nperformance in accordance with Accounting Standards Codification 280 -\n“Segment Reporting,” as prescribed by the Financial Accounting Standards\nBoard.\n\nSegment results, which are reviewed by the Company’s management to evaluate\nsegment performance, do not include the following: restructuring/asset\nimpairment charges; amortization of acquisition intangibles; acquisition,\nintegration and divestiture-related costs; changes in LIFO inventory reserves;\ngains/losses from the sale of businesses; gains/losses from derivatives; or\ncertain other items, if any, the exclusion of which the Company believes\nimproves the comparability and analysis of the ongoing operating performance\nof the business. Accordingly, the term “segment operating profit” is\ndefined as the segment’s portion of “operating profit” excluding those\nitems. All other general corporate expenses have been allocated as operating\ncosts to each of the Company’s reportable segments, except for costs related\nto discontinued operations.\n\nThe Company’s non-GAAP financial measures are not calculated in accordance\nwith, nor are they an alternative for, measures conforming to GAAP, and they\nmay be different from non-GAAP financial measures used by other companies. In\naddition, these non-GAAP financial measures are not based on any comprehensive\nset of accounting rules or principles.\n\nThe Company presents these non-GAAP financial measures to provide investors\nwith information to evaluate Sonoco’s operating results in a manner similar\nto how management evaluates business performance. The Company consistently\napplies its non-GAAP financial measures presented herein and uses them for\ninternal planning and forecasting purposes, to evaluate its ongoing\noperations, and to evaluate the ultimate performance of management and each\nbusiness unit against plans/forecasts. In addition, these same non-GAAP\nfinancial measures are used in determining incentive compensation for the\nentire management team and in providing earnings guidance to the investing\ncommunity.\n\nMaterial limitations associated with the use of such measures include that\nthey do not reflect all period costs included in operating expenses and may\nnot be comparable with similarly named financial measures of other companies.\nFurthermore, the calculations of these non-GAAP financial measures are based\non subjective determinations of management regarding the nature and\nclassification of events and circumstances that the investor may find material\nand view differently.\n\nTo compensate for any limitations in such non-GAAP financial measures,\nmanagement believes that it is useful in evaluating the Company’s results to\nreview both GAAP information, which includes all of the items impacting\nfinancial results, and the related non-GAAP financial measures that exclude\ncertain elements, as described above. Further, Sonoco management does not, nor\ndoes it suggest that investors should, consider any non-GAAP financial\nmeasures in isolation from, or as a substitute for, financial information\nprepared in accordance with GAAP. Whenever reviewing a non-GAAP financial\nmeasure, investors are encouraged to review and consider the related\nreconciliation to understand how it differs from the most directly comparable\nGAAP measure.\n\nReferences to 2025 consolidated “adjusted operating profit” and “segment\nadjusted EBITDA” in the following tables do not include results of TFP,\nwhich was sold in April 2025 and is accounted for as discontinued operations\nin periods prior to the sale.\n\nQUARTERLY RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES\n\nThe following tables reconcile the Company’s non-GAAP financial measures to\ntheir most directly comparable GAAP financial measures in the Company’s\nCondensed Consolidated Statements of Income for the three-month periods ended\nSeptember 27, 2026 and September 28, 2025.\n\nAdjusted Operating Profit, Adjusted Income from Continuing Operations Before\nIncome Taxes, Adjusted Provision for Income Taxes, Adjusted Net Income\nAttributable to Sonoco, and Adjusted Diluted EPS\n\n For the three-month period ended September 27, 2026 \n Dollars in thousands, except per share data Operating (Loss)/Income Provision Net Diluted \n (Loss)/Profit from for Income (Loss)/Income EPS \n Continuing Taxes Attributable \n Operations to Sonoco \n Before Income \n Taxes \n As Reported (GAAP) $ (637,956 ) $ (690,418 ) $ 44,138 $ (732,102 ) $ (7.36 ) \n Acquisition, integration and divestiture-related costs (1) 2,161 2,161 318 1,843 0.01 \n Amortization of acquisition intangibles 45,633 45,633 9,938 35,695 0.36 \n Restructuring/Asset impairment charges, net (2) 856,435 856,435 6,839 849,694 8.54 \n Non-operating pension costs — 2,749 712 2,037 0.02 \n Net gains from derivatives (106 ) (106 ) (26 ) (80 ) — \n Other adjustments (3) 1,874 1,874 (8,237 ) 10,111 0.10 \n Total adjustments 905,997 908,746 9,544 899,300 9.03 \n Adjusted $ 268,041 $ 218,328 $ 53,682 $ 167,198 $ 1.67 \n Due to rounding, individual items may not sum appropriately. \n\n(1) Acquisition, integration and divestiture-related costs relate primarily to\nthe Company’s December 2024 acquisition of Eviosys.\n(2) Restructuring/Asset impairment charges, net, primarily reflect total\ngoodwill impairment charges of $828,875 recognized during the third quarter of\n2026, including $802,000 and $26,875 for the Consumer Packaging EMEA/APAC and\nGlobal Paper Products APAC reporting units, respectively.\n(3 )Other adjustments include discrete tax items primarily related to\nprovision-to-return adjustments for the TFP and ThermoSafe divestitures and a\nretroactive U.S. tax election.\n\n\n\n For the three-month period ended September 28, 2025 \n Dollars in thousands, except per share data Operating Income from Provision Net Income Diluted \n Profit Continuing for Income Attributable EPS \n Operations Taxes to Sonoco \n Before Income \n Taxes \n As Reported (GAAP) $ 194,966 $ 127,762 $ 7,717 $ 122,918 $ 1.23 \n Acquisition, integration and divestiture-related costs (1) 9,318 9,318 2,377 6,941 0.07 \n Amortization of acquisition intangibles 49,034 49,034 10,581 38,453 0.39 \n Restructuring/Asset impairment charges, net 48,388 48,388 11,117 37,221 0.37 \n Loss/(Gain) on divestiture of business (2) 3,031 3,031 27,569 (24,538 ) (0.25 ) \n Non-operating pension costs — 3,054 631 2,423 0.02 \n Net losses from derivatives 2,035 2,035 502 1,533 0.02 \n Other adjustments (3) 1,568 1,568 (4,652 ) 6,220 0.07 \n Total adjustments 113,374 116,428 48,125 68,253 0.69 \n Adjusted $ 308,340 $ 244,190 $ 55,842 $ 191,171 $ 1.92 \n Due to rounding, individual items may not sum appropriately. \n\n(1) Acquisition, integration and divestiture-related costs relate primarily to\nthe Company’s December 2024 acquisition of Eviosys and the April 2025\ndivestiture of TFP.\n(2) Loss/(Gain) on divestiture of business includes the recognition of a\ndeferred tax benefit on the outside basis difference related to the ThermoSafe\nbusiness being classified as held for sale.\n(3) Other adjustments include an adjustment to deferred taxes from the\npost-acquisition restructuring of the partitions business, provision-to-return\nadjustments related to the divested TFP business, and an increase in the\nvaluation allowance on foreign tax credits.\n\n\n\n Adjusted EBITDA (1) \n Three Months Ended \n Dollars in thousands September 27, September 28, \n 2026 2025 \n Net (loss)/income attributable to Sonoco $ (732,102 ) $ 122,918 \n Adjustments: \n Interest expense 46,665 61,243 \n Interest income (5,223 ) (4,634 ) \n Provision for income taxes 44,138 7,717 \n Depreciation and amortization 134,857 131,656 \n Non-operating pension costs 2,749 3,054 \n Net income attributable to noncontrolling interests 235 147 \n Restructuring/Asset impairment charges, net 856,435 48,388 \n Loss on divestiture of business — 3,031 \n Acquisition, integration and divestiture-related costs 2,161 9,318 \n Net (gain)/loss from derivatives (106 ) 2,035 \n Other non-GAAP adjustments 1,874 1,568 \n Adjusted EBITDA $ 351,683 $ 386,441 \n\n(1 )For the three-month period ended September 28, 2025, adjusted EBITDA is\ncalculated on a total Company basis, including both continuing and\ndiscontinued operations.\n\n\n\n Segment Adjusted EBITDA and Adjusted EBITDA Margin Reconciliation \n For the Three Months Ended September 27, 2026 \n \n Dollars in thousands Consumer Industrial Corporate Total \n Segment and Total Operating Profit/(Loss) (1) $ 178,563 $ 87,973 $ (904,492 ) $ (637,956 ) \n Adjustments: \n Depreciation and amortization (2) 58,048 31,176 45,633 134,857 \n Other expense, net (3) — — (8,271 ) (8,271 ) \n Equity in earnings of affiliates, net of tax 217 2,472 — 2,689 \n Restructuring/Asset impairment charges, net (4) — — 856,435 856,435 \n Acquisition, integration and divestiture-related costs (5) — — 2,161 2,161 \n Net gain from derivatives (6) — — (106 ) (106 ) \n Other non-GAAP adjustments — — 1,874 1,874 \n Segment Adjusted EBITDA $ 236,828 $ 121,621 $ (6,766 ) $ 351,683 \n \n Net Sales $ 1,396,012 $ 645,563 \n Segment Operating Profit Margin 12.8 % 13.6 % \n Segment Adjusted EBITDA Margin 17.0 % 18.8 % \n\n(1)As previously announced, effective January 1, 2026, results for Industrial\nPlastics, previously included in the All Other group of businesses, are\nincluded in the Industrial segment. The Company no longer reports the results\nof any of its businesses in All Other.\n(2)Included in Corporate is the amortization of acquisition intangibles\nassociated with the Consumer segment of $40,576 and the Industrial segment of\n$5,057.\n(3)These expenses relate to charges from third-party financial institutions\nrelated to our centralized treasury program under which the Company sells\ncertain trade accounts receivables in order to accelerate its cash collection\ncycle, primarily within the Consumer segment.\n(4)Included in Corporate are restructuring/asset impairment charges associated\nwith the Consumer segment of $835,670 and the Industrial segment of $20,196.\n(5)Included in Corporate are acquisition, integration and divestiture-related\ncosts associated with the Consumer segment of $433 and the Industrial segment\nof $7.\n(6)Included in Corporate are net gains from derivatives associated with the\nConsumer segment of $3 and the Industrial segment of $(109).\n\n\n\n Segment and All Other Adjusted EBITDA and Adjusted EBITDA Margin Reconciliation \n For the Three Months Ended September 28, 2025 \n Excludes results of discontinued operations \n Dollars in thousands Consumer Industrial All Other Corporate Total \n Segment and Total Operating Profit $ 208,985 $ 93,773 $ 14,386 $ (122,178 ) $ 194,966 \n Adjustments: \n Depreciation and amortization (1) 50,419 30,896 1,307 49,034 131,656 \n Other expense, net (2) — — — (7,541 ) (7,541 ) \n Equity in earnings of affiliates, net of tax 190 2,830 — — 3,020 \n Restructuring/Asset impairment charges, net (3) — — — 48,388 48,388 \n Acquisition, integration and divestiture-related costs (4) — — — 9,318 9,318 \n Loss on divestiture of business (5) — — — 3,031 3,031 \n Net loss from derivatives (6) — — — 2,035 2,035 \n Other non-GAAP adjustments — — — 1,568 1,568 \n Segment Adjusted EBITDA $ 259,594 $ 127,499 $ 15,693 $ (16,345 ) $ 386,441 \n \n Net Sales $ 1,438,246 $ 613,611 $ 79,251 \n Segment Operating Profit Margin 14.5 % 15.3 % 18.2 % \n Segment Adjusted EBITDA Margin 18.0 % 20.8 % 19.8 % \n\n(1)Included in Corporate is the amortization of acquisition intangibles\nassociated with the Consumer segment of $43,397, the Industrial segment of\n$5,485, and the All Other group of businesses of $152.\n(2)These expenses relate to charges from third-party financial institutions\nrelated to our centralized treasury program under which the Company sells\ncertain trade accounts receivables in order to accelerate its cash collection\ncycle, primarily within the Consumer segment.\n(3)Included in Corporate are restructuring/asset impairment charges associated\nwith the Consumer segment of $35,027 and the Industrial segment of $11,181.\n(4)Included in Corporate are acquisition, integration and divestiture-related\ncosts associated with the Consumer segment of $1,293 and the Industrial\nsegment of $97.\n(5)Included in Corporate is a loss on divestiture of business of $31\nassociated with the Industrial segment related to the sale of a recycling\noperation in Asheville, North Carolina, and a $3,000 charge related to the\ndivestiture of ThermoSafe, previously part of the All Other group of\nbusinesses.\n(6)Included in Corporate are net losses from derivatives associated with the\nConsumer segment of $196, the Industrial segment of $1,760, and the All Other\ngroup of businesses of $79.\n\n\n\nYEAR-TO-DATE RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES\n\nThe following tables reconcile the Company’s non-GAAP financial measures to\ntheir most directly comparable GAAP financial measures in the Company’s\nCondensed Consolidated Statements of Income for the nine-month periods ended\nSeptember 27, 2026 and September 28, 2025.\n\nAdjusted Operating Profit, Adjusted Income from Continuing Operations Before\nIncome Taxes, Adjusted Provision for Income Taxes, Adjusted Net Income\nAttributable to Sonoco, and Adjusted Diluted EPS\n\n For the nine-month period ended September 27, 2026 \n Dollars in thousands, except per share data Operating (Loss)/Income Provision Net Diluted \n (Loss)/Profit from for Income (Loss)/Income EPS \n Continuing Taxes Attributable \n Operations to Sonoco \n Before Income \n Taxes \n As Reported (GAAP) $ (318,027 ) $ (471,661 ) $ 93,199 $ (559,607 ) $ (5.63 ) \n Acquisition, integration and divestiture-related costs (1) 10,582 10,582 1,665 8,917 0.09 \n Changes in LIFO inventory reserves 5,521 5,521 1,367 4,154 0.04 \n Amortization of acquisition intangibles 135,523 135,523 29,738 105,785 1.06 \n Restructuring/Asset impairment charges, net (2) 873,501 873,501 10,344 863,267 8.68 \n Gain on divestiture of business, net (3) (775 ) (775 ) (188 ) (587 ) (0.01 ) \n Other expense, net (4) — 6,592 — 6,592 0.07 \n Non-operating pension costs — 8,165 2,106 6,059 0.06 \n Net losses from derivatives 61 61 15 46 — \n Other adjustments 4,901 4,901 2,450 2,451 0.02 \n Total adjustments 1,029,314 1,044,071 47,497 996,684 10.01 \n Adjusted $ 711,287 $ 572,410 $ 140,696 $ 437,077 $ 4.38 \n Due to rounding, individual items may not sum appropriately. \n\n(1) Acquisition, integration and divestiture-related costs relate primarily to\nthe Company’s December 2024 acquisition of Eviosys and the November 2025\ndivestiture of ThermoSafe.\n(2 )Restructuring/Asset impairment charges, net, primarily reflect total\ngoodwill impairment charges of $828,875 recognized during the third quarter of\n2026, including $802,000 and $26,875 for the Consumer Packaging EMEA/APAC and\nGlobal Paper Products APAC reporting units, respectively.\n(3) Gain on divestiture of business, net reflects the gain of $2,640 from the\nsale of a recycling operation in Savannah, Georgia, partially offset by a\ncharge of $1,865 from the final net working capital settlement related to the\nNovember 2025 divestiture of ThermoSafe. \n(4) Amount relates to certain pre-acquisition liabilities related to the\nSonoco Metal Packaging EMEA business.\n\n\n\n For the nine-month period ended September 28, 2025 \n Dollars in thousands, except per share data Operating Income Provision Net Diluted \n Profit from for Income Income EPS \n Continuing Taxes Attributable \n Operations to Sonoco \n Before Income \n Taxes \n As Reported (GAAP) (1) $ 497,493 $ 302,186 $ 68,364 $ 670,770 $ 6.74 \n Acquisition, integration and divestiture-related costs (2) 47,745 47,745 11,134 46,277 0.47 \n Changes in LIFO inventory reserves 1,755 1,755 433 1,322 0.01 \n Amortization of acquisition intangibles 135,188 135,188 29,586 105,389 1.06 \n Restructuring/Asset impairment charges, net 71,721 71,721 16,514 55,109 0.55 \n Loss/(Gain) on divestiture of business (3) 9,297 9,297 28,455 (443,706 ) (4.46 ) \n Non-operating pension costs — 9,157 2,190 6,967 0.07 \n Net losses from derivatives 1,240 1,240 306 934 0.01 \n Other adjustments (4) 3,562 3,562 (14,456 ) 21,064 0.21 \n Total adjustments 270,508 279,665 74,162 (206,644 ) (2.08 ) \n Adjusted $ 768,001 $ 581,851 $ 142,526 $ 464,126 $ 4.66 \n Due to rounding, individual items may not sum appropriately. \n\n(1) Operating profit, income from continuing operations before income taxes,\nand provision for income taxes exclude results related to discontinued\noperations of $663,564, $638,752, and $209,032, respectively.\n(2) Acquisition, integration and divestiture-related costs relate primarily to\nthe Company’s December 2024 acquisition of Eviosys and the April 2025\ndivestiture of TFP.\n(3) Loss/(Gain) on divestiture of business primarily consists of the gain on\nthe sale of TFP, included in “Net income from discontinued operations” in\nthe Company’s Condensed Consolidated Statements of Income, and the\nrecognition of a deferred tax benefit on the outside basis difference related\nto the ThermoSafe business being classified as held for sale.\n(4) Other adjustments include discrete tax items primarily related to tax rate\nchanges, an adjustment to deferred taxes from post-acquisition restructuring\nof the partitions business, provision-to-return adjustments related to the\ndivested TFP business, and an increase in the valuation allowance on foreign\ntax credits.\n\n Adjusted EBITDA (1) \n Nine Months Ended \n Dollars in thousands September 27, September 28, \n 2026 2025 \n \n Net (loss)/income attributable to Sonoco $ (559,607 ) $ 670,770 \n Adjustments: \n Interest expense 136,637 206,548 \n Interest income (17,938 ) (16,385 ) \n Provision for income taxes 93,199 277,396 \n Depreciation and amortization 390,982 382,623 \n Non-operating pension costs 8,165 9,157 \n Non-operating other expense 6,592 — \n Net income/(loss) attributable to noncontrolling interests 389 (17 ) \n Restructuring/Asset impairment charges, net 873,501 72,147 \n Changes in LIFO inventory reserves 5,521 1,755 \n Gain on divestiture of business (775 ) (616,476 ) \n Acquisition, integration and divestiture-related costs 10,582 60,421 \n Net loss from derivatives 61 1,240 \n Other non-GAAP adjustments 4,901 2,949 \n Adjusted EBITDA $ 952,210 $ 1,052,128 \n \n Net Sales $ 5,603,502 $ 5,750,777 \n Net sales related to discontinued operations $ — $ 320,678 \n\n(1)For the nine-month period ended September 28, 2025, Adjusted EBITDA is\ncalculated on a total Company basis, including both continuing and\ndiscontinued operations.\n\n\n\nThe following tables reconcile segment operating profit, the closest GAAP\nmeasure of profitability, to segment adjusted EBITDA.\n\n Segment and All Other Adjusted EBITDA and Adjusted EBITDA Margin Reconciliation \n For the Nine Months Ended September 27, 2026 \n Excludes results of discontinued operations \n Dollars in thousands Consumer Industrial Corporate Total \n Segment and Total Operating Profit/(Loss) (1) $ 455,917 $ 246,598 $ (1,020,542 ) $ (318,027 ) \n Adjustments: \n Depreciation and amortization (2) 163,673 91,786 135,523 390,982 \n Other expense, net (3) — — (20,178 ) (20,178 ) \n Equity in earnings of affiliates, net of tax 491 5,151 — 5,642 \n Restructuring/Asset impairment charges, net (4) — — 873,501 873,501 \n Changes in LIFO inventory reserves (5) — — 5,521 5,521 \n Acquisition, integration and divestiture-related costs (6) — — 10,582 10,582 \n Gain on divestiture of business (7) — — (775 ) (775 ) \n Net loss from derivatives (8) — — 61 61 \n Other non-GAAP adjustments — — 4,901 4,901 \n Segment Adjusted EBITDA $ 620,081 $ 343,535 $ (11,406 ) $ 952,210 \n \n Net Sales $ 3,734,926 $ 1,868,576 \n Segment Operating Profit Margin 12.2 % 13.2 % \n Segment Adjusted EBITDA Margin 16.6 % 18.4 % \n\n(1 )As previously announced, effective January 1, 2026, results for Industrial\nPlastics, previously included in the All Other group of businesses, are\nincluded in the Industrial segment. The Company no longer reports the results\nof any of its businesses in All Other.\n(2 )Included in Corporate is the amortization of acquisition intangibles\nassociated with the Consumer segment of $120,451 and the Industrial segment of\n$15,072.\n(3 )These expenses relate to charges from third-party financial institutions\nrelated to our centralized treasury program under which the Company sells\ncertain trade accounts receivable in order to accelerate its cash collection\ncycle primarily within the Consumer segment.\n(4 )Included in Corporate are restructuring/asset impairment charges\nassociated with the Consumer segment of $844,607 and the Industrial segment of\n$27,392.\n(5 )Included in Corporate are changes in LIFO inventory reserves associated\nwith the Consumer segment of $4,996 and the Industrial segment of $525.\n(6 )Included in Corporate are acquisition, integration and divestiture-related\ncosts associated with the Consumer segment of $3,707 and the Industrial\nsegment of $159.\n(7 )Included in Corporate is a gain of $2,640 from the sale of a recycling\nfacility in Savannah, Georgia, part of the Industrial segment, partially\noffset by a charge of $1,865 from the final net working capital settlement\nrelated to the divestiture of ThermoSafe, previously part of the All Other\ngroup of businesses.\n(8 )Included in Corporate are net losses from derivatives associated with the\nConsumer segment of $7 and the Industrial segment of $54.\n\n\n\n Segment and All Other Adjusted EBITDA and Adjusted EBITDA Margin Reconciliation \n For the Nine Months Ended September 28, 2025 \n Excludes results of discontinued operations \n Dollars in thousands Consumer Industrial All Other Corporate Total \n Segment and Total Operating Profit $ 510,109 $ 256,038 $ 29,511 $ (298,165 ) $ 497,493 \n Adjustments: \n Depreciation and amortization (1) 152,175 90,764 4,807 135,188 382,934 \n Other expense, net (2) — — — (20,617 ) (20,617 ) \n Equity in earnings of affiliates, net of tax 309 6,902 — — 7,211 \n Restructuring/Asset impairment charges, net (3) — — — 71,721 71,721 \n Changes in LIFO inventory reserves (4) — — — 1,755 1,755 \n Acquisition, integration and divestiture-related costs (5) — — — 47,745 47,745 \n Loss on divestiture of business (6) — — — 9,297 9,297 \n Net loss from derivatives (7) — — — 1,240 1,240 \n Other non-GAAP adjustments — — — 3,562 3,562 \n Segment Adjusted EBITDA $ 662,593 $ 353,704 $ 34,318 $ (48,274 ) $ 1,002,341 \n \n Net Sales $ 3,731,872 $ 1,818,804 $ 200,101 \n Segment Operating Profit Margin 13.7 % 14.1 % 14.7 % \n Segment Adjusted EBITDA Margin 17.8 % 19.4 % 17.2 % \n\n(1)Included in Corporate is the amortization of acquisition intangibles\nassociated with the Consumer segment of $118,232, the Industrial segment of\n$16,405, and All Other of $551.\n(2)These expenses relate to charges from third-party financial institutions\nrelated to our centralized treasury program under which the Company sells\ncertain trade accounts receivables in order to accelerate its cash collection\ncycle primarily within the Consumer segment.\n(3)Included in Corporate are restructuring/asset impairment charges associated\nwith the Consumer segment of $37,736, the Industrial segment of $31,907, and\nAll Other of $10.\n(4)Included in Corporate are changes in LIFO inventory reserves associated\nwith the Consumer segment of $1,755.\n(5)Included in Corporate are acquisition, integration and divestiture-related\ncosts associated with the Consumer segment of $22,502 and the Industrial\nsegment of $528.\n(6)Included in Corporate are net losses from the divestiture of businesses\nwithin the Industrial segment of $6,297, including a loss of $2,114 from the\nsale of a recycling facility in Asheville, N.C. and losses totaling $4,183\nrelated to the sale of a production facility in France and the entirety of our\nbusiness in Venezuela.\n(7)Included in Corporate are net gains from derivatives associated with the\nConsumer segment of $120, the Industrial segment of $1,072, and All Other of\n$48.\n\n\n\nFREE CASH FLOW\n\nThe Company uses the non-GAAP financial measure of “Free Cash Flow,” which\nit defines as cash flow from operations minus net capital expenditures. Net\ncapital expenditures are defined as capital expenditures minus proceeds from\nthe disposition of capital assets. Free Cash Flow may not represent the amount\nof cash flow available for general discretionary use because it excludes\nnon-discretionary expenditures, such as mandatory debt repayments and required\nsettlements of recorded and/or contingent liabilities not reflected in cash\nflow from operations.\n\nThe reconciliation of the GAAP measure “Net cash provided by operating\nactivities” to the non-GAAP measure “Free Cash Flow” is set forth in the\ntable below:\n\n Nine Months Ended \n September 27, September 28, \n 2026 2025 \n \n Net cash provided by operating activities $ 217,548 $ 276,896 \n Purchases of property, plant and equipment (188,664 ) (253,411 ) \n Proceeds from the sale of assets, net 13,759 5,160 \n Net capital expenditures (174,905 ) (248,251 ) \n Free cash flow $ 42,643 $ 28,645 \n \n\n\n\nNET DEBT\n\nThe reconciliation of the GAAP measure “Total Debt” to the non-GAAP\nmeasure of “Net Debt” is set forth in the table below:\n\n September 27, \n 2026 \n \n Total Debt $ 4,291,666 \n Less: Cash and cash equivalents 183,101 \n Net Debt $ 4,108,565 \n\n\n\nThis press release was published by a CLEAR® Verified individual.\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/f73aaeef-54c7-4840-ba7d-659e32c9abb9)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX5bFfJq-20261021","title":"Sonoco Reports Third Quarter 2026 Results","author":"Globe Newswire","ticker":"SON","created":"2026-10-21T21:00:00.847Z","tickers":["SON"],"exchange":"NYSE","article_body":"HARTSVILLE, S.C., Oct. 21, 2026 (GLOBE NEWSWIRE) -- Sonoco Products Company\n(“Sonoco” or the “Company”) (NYSE: SON), a Mid-cap Value global\npackaging company, today reported financial results for the third quarter\nended September 27, 2026.\n\nSummary:\n* Net sales in the third quarter were $2.0 billion. Excluding divestitures,\nnet sales were essentially flat\n* Reported GAAP net loss of $(732) million, or $(7.36) diluted earnings per\nshare, reflecting a non-cash goodwill impairment charge of $(829) million\nattributable to the Consumer EMEA/APAC and Industrial APAC businesses,\ncompared to GAAP net income of $123 million, or $1.23 diluted earnings per\nshare, in the same period in 2025\n* Third quarter adjusted net income was $167 million or $1.67 per adjusted\ndiluted share, compared to $191 million or $1.92 per adjusted diluted share in\nthe same period in 2025\n* Generated operating cash flow of $285 million in the third quarter, and\nprovided $218 million of operating cash flow year-to-date, which was net of\napproximately $103 million in one-time taxes paid in 2026 on gains from the\nsales of the divested TFP and ThermoSafe businesses in 2025\n Third Quarter 2026 Consolidated Results \n (Dollars in millions except per share data) \n \n Three Months Ended Nine Months Ended \n GAAP Results September 27, 2026 September 28, 2025 Change September 27, 2026 September 28, 2025 Change \n Net sales (1) $ 2,042 $ 2,131 (4.2)% $ 5,604 $ 5,751 (2.6)% \n Net sales related to discontinued operations — — — 321 \n Operating (loss)/profit (1) (638 ) 195 (427.2)% (318 ) 497 (163.9)% \n Operating profit related to discontinued operations — — — 664 \n Net (loss)/income attributable to Sonoco (732 ) 123 (695.6)% (560 ) 671 (183.4)% \n EPS (diluted) (7.36 ) 1.23 (698.4)% (5.63 ) 6.74 (183.5)% \n\n\n\n \n Three Months Ended Nine Months Ended \n Non-GAAP Results (2) September 27, 2026 September 28, 2025 Change September 27, 2026 September 28, 2025 Change \n Adjusted operating profit (1) $ 268 $ 308 (13.1)% $ 711 $ 768 (7.4)% \n Adjusted EBITDA 352 386 (9.0)% 952 1,052 (9.5)% \n Adjusted net income attributable to Sonoco 167 191 (12.5)% 437 464 (5.8)% \n Adjusted EPS (diluted) 1.67 1.92 (13.0)% 4.38 4.66 (6.0)% \n (1)Excludes results of discontinued operations. \n (2)See the Company’s definitions of non-GAAP financial measures, explanations as to why they are used, and reconciliations to the most directly comparable GAAP financial measures later in this release. \n* Third quarter 2026 net sales of $2.0 billion were down (4.2)% compared to\nthe corresponding prior-year quarter, driven primarily by the November 3, 2025\ndivestiture of the ThermoSafe business. Net sales benefited from higher\nselling prices implemented to offset the effects of inflation and tariffs,\nwhich was partially offset by lower volume/mix. \n\n\n* GAAP operating loss for the third quarter was $(638) million, which includes\nnon-cash goodwill impairment charges of $(802) million and $(27) million,\nattributable to the Consumer Packaging segment’s EMEA/APAC businesses and\nthe Industrial Paper Packaging segment’s APAC business, respectively, for a\ntotal non-cash goodwill impairment charge of $(829) million. In addition to\nthis charge, solid productivity savings stemming from fixed cost reduction\ninitiatives and procurement savings were more than offset by significant\nprice/cost headwinds and lower volume/mix.\n\n\n* Effective tax rates on GAAP income from continuing operations before income\ntaxes and adjusted income from continuing operations before income taxes, were\n(6.4)% and 24.6%, respectively, in the third quarter, compared to 6.0% and\n22.9%, respectively, in the same period in 2025.\n“During the third quarter, our businesses faced a combination of external\nchallenges. Drought conditions across parts of Europe and the U.S. impacted\ncrop yields and pressured food can demand, while the impact of inflation on\nraw materials, freight, energy, and other operating costs exceeded our\nexpectations. Through strong productivity initiatives and rigorous cost\ncontrol, our teams were able to mitigate a significant portion of this impact\nand deliver resilient operating results,” said Howard Coker, President and\nChief Executive Officer.\n\n“Our Industrial Paper Packaging segment delivered another strong quarter,\nwith results essentially in line with the second quarter despite a challenging\noperating environment. Productivity improvements remained a key driver of\nperformance, while North America URB trade ton sales increased 10% year over\nyear and mill utilization remained strong at 94%. Segment volume/mix was\nmodestly positive, and additional URB pricing realized in September positions\nus to further offset inflationary pressures.”\n\n“Results in Consumer Packaging fell short of expectations, as volume/mix\ndeclined 3% year over year due primarily to adverse weather conditions and\nunfavorable price/cost dynamics. Encouragingly, international paper can\noperations performed well, with double-digit volume growth year over year\ndriven by sustained demand for snack products across emerging markets.”\n\nPaul Joachimczyk, Sonoco’s Chief Financial Officer, added, “Our businesses\nonce again generated strong operating cash flow in the third quarter,\ndelivering $285 million despite seasonal working capital headwinds.\nYear-to-date operating cash flow includes $103 million of one-time tax\npayments related to gains on our 2025 divestitures. We continued to strengthen\nour balance sheet during the quarter, reducing total debt and net debt by $162\nmillion and $176 million, respectively, while successfully refinancing an $800\nmillion term loan. The refinancing extends our maturity profile and enhances\nour financial flexibility, positioning us well to continue executing our\ncapital allocation priorities while maintaining our investment grade credit\nratings.”\n\nThird Quarter 2026 Segment Results\n(Dollars in millions except per share data)\n\nSonoco reports its financial results in two reportable segments: Consumer\nPackaging (“Consumer”) and Industrial Paper Packaging (“Industrial”).\n\nAs previously announced, effective January 1, 2026, results of the Company’s\nindustrial and specialty plastics business (“Industrial Plastics”), the\nonly business remaining in the All Other group of businesses following the\nNovember 2025 divestiture of ThermoSafe, are now included in the Industrial\nsegment. Therefore, the Company no longer provides results of the All Other\ngroup of businesses.\n\n Three Months Ended Nine Months Ended \n Consumer September 27, 2026 September 28, 2025 Change September 27, 2026 September 28, 2025 Change \n \n Net sales (1) $ 1,396 $ 1,438 (2.9)% $ 3,735 $ 3,732 0.1 % \n Segment operating profit (1) $ 179 $ 209 (14.6)% $ 456 $ 510 (10.6)% \n Segment operating profit margin (1) 12.8 % 14.5 % 12.2 % 13.7 % \n Segment Adjusted EBITDA (1, 2) $ 237 $ 260 (8.8)% $ 620 $ 663 (6.4)% \n Segment Adjusted EBITDA margin (1, 2) 17.0 % 18.0 % 16.6 % 17.8 % \n* Consumer segment net sales were down (2.9)%, as adverse weather conditions\nimpacted seasonal vegetable harvests in EMEA and Americas reducing metal cans\nvolumes. This headwind more than offset pricing actions implemented to recover\ninflation and tariff-related costs, along with the negative impact of foreign\nexchange.\n* Segment operating profit and adjusted EBITDA declined as strong productivity\nsavings and cost containment actions were more than offset by inflation-driven\nprice/cost headwinds and the previously described negative volume/mix.\n Three Months Ended Nine Months Ended \n Industrial September 27, 2026 September 28, 2025 Change September 27, 2026 September 28, 2025 Change \n \n Net sales (3) $ 646 $ 614 5.2 % $ 1,869 $ 1,819 2.7 % \n Segment operating profit (3) $ 88 $ 94 (6.2)% $ 247 $ 256 (3.7)% \n Segment operating profit margin 13.6 % 15.3 % 13.2 % 14.1 % \n Segment Adjusted EBITDA (2, 3 ) $ 122 $ 127 (4.6)% $ 344 $ 354 (2.9)% \n Segment Adjusted EBITDA margin (2 ) 18.8 % 20.8 % 18.4 % 19.4 % \n* Industrial segment net sales increased 5.2% to $646 million, primarily due\nto successful pricing actions implemented to help offset rising costs.\n* Segment operating profit and adjusted EBITDA declined as pricing actions and\nproductivity initiatives were more than offset by rising raw material, freight\nand energy costs. Operating margin remained resilient at 13.6%, compared with\nthe second quarter but down from a record 2025 third quarter, while adjusted\nEBITDA margin was 18.8%.\n(1 )Excludes results of discontinued operations.\n(2 )Segment adjusted EBITDA and adjusted EBITDA margin are non-GAAP financial\nmeasures. See the Company’s reconciliations of these non-GAAP financial\nmeasures to the most directly comparable GAAP financial measures later in this\nrelease.\n(3 )Net sales, segment operating profit, and segment adjusted EBITDA for the\nthree months ended September 28, 2025 include results from Industrial Plastics\nof $29 million, $4 million, and $5 million, respectively, previously included\nin All Other, to provide clearer year-over-year comparisons.\n\nBalance Sheet and Cash Flow Highlights\n* The Company maintained strong liquidity of $1.3 billion at September 27,\n2026, consisting of $1.1 billion of available borrowing capacity under its\nrevolving credit facility and cash on hand.\n* Cash and cash equivalents were $183 million as of September 27, 2026,\ncompared to $378 million, as of December 31, 2025.\n* Total debt and net debt were $4.3 billion and $4.1 billion, respectively, as\nof September 27, 2026, primarily reflecting seasonal working capital\nrequirements within the Company's metal packaging business.\n* Year-to-date cash flow from operating activities for the period ended\nSeptember 27, 2026 provided $218 million, compared to $277 million in the\nsame period of 2025. The main drivers of the year-over-year change in\noperating cash flow were a one-time payment of taxes in 2026 on the gains from\nthe 2025 divestitures of the TFP and ThermoSafe businesses and the seasonal\nneed for working capital for the Company’s metal packaging business.\n* Capital expenditures, net of proceeds from sales of fixed assets, for 2026\nwere $175 million, compared to $248 million last year.\n* Free Cash Flow for the period ended September 27, 2026 improved to $43\nmillion compared to $29 million in the same period in 2025, reflecting the\nfactors impacting operating cash flow discussed above.\n* The Company returned $159 million to shareholders through dividends during\nthe first nine months of 2026, compared to $156 million in the prior year\nperiod.\n* On September 25, 2026, Sonoco amended a credit agreement, resulting in the\naddition of $800 million in new term loan facilities. The Company drew $500\nmillion from the new facilities to refinance an existing $500 million term\nloan which was to mature in 2028. The Company retained $300 million in\ndelayed-draw term loan capacity, which it can use within 12 months.\nGuidance((1) )        \n\nRevised Full-Year 2026\n* Net Sales: $7.20 billion to $7.40 billion\n* Adjusted EPS((2)): Targeting diluted earnings per share between $5.30 to\n$5.50\n* Adjusted EBITDA((2)): Targeting $1.20 billion to $1.25 billion\n* Cash flow from operating activities: Guidance adjusted to $600 million to\n$650 million, including the effect of payments of prior year taxes on gains\nfrom divestitures and restructuring costs\nCommenting on Sonoco’s outlook, Howard Coker said, “While our\nthird-quarter performance fell short of our expectations, we are taking\ntargeted actions through our Profitability Performance Plan to further reduce\ncosts, improve productivity and address the impact of inflationary pressures.\nWe believe these efforts will better position the Company when market\nconditions improve. We remain confident in our value-added packaging strategy,\nour market-leading portfolio of industrial and consumer assets, and the\nability of our customer- and quality-focused employees to execute through\neconomic cycles.”\n\nJoachimczyk added, “In the fourth quarter of 2026, we expect continued\nstrong performance from our Industrial segment, supported by continued robust\nURB demand in North America. We also anticipate more stable performance from\nour Consumer segment, driven by continued growth in international paper cans\nand a more balanced performance in aerosol and food can volumes. Finally,\nrecovering raw material, freight, energy, and other operating costs remains a\nkey priority as we close out 2026 and head into 2027.”\n\n((1))Although the Company believes the assumptions reflected in the range of\nguidance are reasonable, given the uncertainty regarding the future\nperformance of the overall economy, the effects of tariffs, trade policy and\ninflation, the challenges in global supply chains, potential changes in raw\nmaterial prices, other costs, and the Company’s effective tax rate, as well\nas other risks and uncertainties, including those related to the integration\nof Eviosys and those described below, actual results could vary substantially.\nFurther information can be found in the section entitled “Forward-looking\nStatements” in this release.\n\n((2) )Full year 2026 GAAP guidance is not provided in this release due to the\nlikely occurrence of one or more of the following, the timing and magnitude of\nwhich we are unable to reliably forecast without unreasonable efforts:\nrestructuring costs and restructuring-related impairment charges,\nacquisition/divestiture-related costs, gains or losses from the sale of\nbusinesses and the income tax effects of these items and/or other income\ntax-related events. These items could have a significant impact on the\nCompany’s future GAAP financial results. Accordingly, quantitative\nreconciliations of Adjusted EPS and Adjusted EBITDA guidance to the nearest\ncomparable GAAP measures have been omitted in reliance on the exception\nprovided by Item 10 of Regulation S-K.        \n\nAbout Sonoco\nSonoco (NYSE: SON) is a Mid-cap Value global packaging company. With sales of\n$7.5 billion from continuing operations in 2025, the Company has approximately\n22,000 employees working in 265 operations in 37 countries, serving some of\nthe world’s best-known brands. Guided by our purpose of Better Packaging.\nBetter Life., we strive to foster a culture of innovation, collaboration and\nexcellence to provide solutions that better serve all our stakeholders and\nsupport a more sustainable future. A Fortune 500 company, Sonoco was proudly\nnamed one of the World’s Most Admired Companies by Fortune in 2026 as well\nas one of America’s Most Trustworthy and Responsible Companies by Newsweek\nand USA Today’s Climate Leaders in 2025. For more information on the\nCompany, visit our website at www.sonoco.com. \n\nForward-looking Statements\n\nStatements included herein that are not historical in nature, are intended to\nbe, and are hereby identified as “forward- looking statements” for\npurposes of the safe harbor provided by Section 21E of the Securities Exchange\nAct of 1934, as amended. In addition, the Company and its representatives may\nfrom time to time make other oral or written statements that are also\n“forward-looking statements.” Words such as “achieve,”\n“anticipate,” “believe,” “can,” “continue,” “continuing,”\n“could,” “deliver,” “enhance,” “expect,” “forecast,”\n“focus,” “future,” “goal,” “guidance,” “improvement,”\n“likely,” “may,” “might,” “ongoing,” “outlook,”\n“plan,” “position,” “projected,” “remain,” “seek,”\n“should,” “strategy,” “target,” “will,” “would,”\n“working,” or the negative thereof, and similar expressions identify\nforward-looking statements.\n\nForward-looking statements in this communication include statements regarding,\nbut not limited to: the Company’s future operating and financial\nperformance, including full year 2026 outlook and the anticipated drivers\nthereof and cash flow in 2026; the expected benefits of refinancing debt,\nincluding the Company’s ability to continue executing on its capital\nallocation priorities while maintaining its investment grade credit ratings;\nthe Company’s ability to reduce costs, improve productivity and address the\nimpact of inflationary pressures, including through its profitability\nperformance plan, and the expected benefits thereof; the Company’s ability\nto execute through economic cycles, including as a result of its packaging\nstrategy, its portfolio of industrial and consumer assets, and the ability of\nits customer- and quality-focused employees; the continued strong performance\nof the Company’s Industrial segment in the fourth quarter of 2026 and the\nanticipated drivers thereof; the performance of the Company’s Consumer\nsegment and the anticipated drivers thereof; the continued focus on recovering\nraw material, freight, energy and other operating costs; and the effects of\nthe changing macroeconomic and geopolitical environment, including trade\npolicies and tariffs, market conditions, inflation and interest costs on the\nCompany, its supply chain and its customers, and the Company’s ability to\nmanage risks related thereto.\n\nSuch forward-looking statements are based on current expectations, estimates\nand projections about our industry, management’s beliefs and certain\nassumptions made by management. Such information includes, without limitation,\ndiscussions as to guidance and other estimates, perceived opportunities,\nexpectations, beliefs, plans, strategies, goals and objectives concerning our\nfuture financial and operating performance. These statements are not\nguarantees of future performance and are subject to certain risks,\nuncertainties and assumptions that are difficult to predict.\n\nTherefore, actual results may differ materially from those expressed or\nforecasted in such forward-looking statements.\n\nSuch risks, uncertainties and assumptions include, without limitation, those\nrelated to: the Company’s ability to execute on its strategy, including with\nrespect to the integration of the Eviosys operations, divestitures, cost\nmanagement, productivity improvements, restructuring and capital expenditures,\nand achieve the benefits it expects therefrom; conditions in the credit\nmarkets; the ability to retain key employees and successfully integrate\nEviosys; the ability to realize estimated cost savings, synergies or other\nanticipated benefits of the Eviosys acquisition, or that such benefits may\ntake longer to realize than expected; diversion of management’s attention;\nthe potential impact of the consummation of the Eviosys acquisition on\nrelationships with clients and other third parties; lower-than-projected\nfinancial performance of the Company’s European business, including as a\nresult of loss or reduction in business from key customers, changes in our\npricing model, or adverse changes in the macroeconomic or competitive\nenvironment in European markets; risks related to the impairment of goodwill\nand other intangibles; the operation of new manufacturing capabilities; the\nCompany’s ability to achieve anticipated cost and energy savings; the\navailability, transportation and pricing of raw materials, energy and\ntransportation, including the impact of changes in tariff or other trade\npolicies or sanctions and escalating trade wars, and the impact of war,\ngeneral regional instability and other geopolitical tensions (such as the\nongoing conflicts between Russia and Ukraine and in the Middle East, the\npotential escalation of tensions between China and Taiwan and recent events in\nVenezuela), and the Company’s ability to continue to pass raw material,\nenergy and transportation price increases and surcharges through to customers\nor otherwise manage these commodity pricing risks; the costs of labor; the\neffects of inflation, changes related to tariffs or other trade policies and\nglobal regulations, as well as the overall uncertainty surrounding\ninternational trade relations; fluctuations in consumer demand, volume\nsoftness, and other macroeconomic factors on the Company and the industries in\nwhich it operates and that it serves; the impact of changing laws and\nregulations, in the United States, on the Company; the Company’s ability to\nmeet its environmental, sustainability and similar goals and other social and\ngovernance goals, including challenges in implementation thereof; natural\ndisasters, severe weather events, and other unexpected disruptions to facility\noperations; and the other risks, uncertainties and assumptions discussed in\nthe Company’s filings with the Securities and Exchange Commission, including\nits most recent reports on Forms 10-K and 10-Q, particularly under the heading\n“Risk Factors.” The Company undertakes no obligation to publicly update or\nrevise forward-looking statements, whether as a result of new information,\nfuture events or otherwise. In light of these risks, uncertainties and\nassumptions, the forward-looking events discussed herein might not occur.\n\nReferences to our Website Address\n\nReferences to our website address and domain names throughout this release are\nfor informational purposes only, or to fulfill specific disclosure\nrequirements of the Securities and Exchange Commission’s rules or the New\nYork Stock Exchange Listing Standards. These references are not intended to,\nand do not, incorporate the contents of our website by reference into this\nrelease.\n\nEarnings Conference Call Webcast\nSonoco’s management will host a conference call to discuss its third quarter\n2026 results on Thursday, October 22, 2026, at 8:00 a.m. Eastern Time. The\nCompany will provide prepared remarks, a presentation and host a\nquestion-and-answer session during the call. A live audio webcast of the call\nalong with supporting materials will be available on the Sonoco Investor\nRelations website at https://investor.sonoco.com/. A webcast replay will be\navailable on the Company’s website for at least 30 days following the call.\n\n \n Time: Thursday, October 22, 2026, at 8:00 a.m. Eastern Time \n \n Audience To listen via telephone, please register in advance at: \n Dial-In: https://events.q4inc.com/analyst/818434126?pwd=xd1mxKQr \n \n After registration, all telephone participants will receive the dial-in number along with a unique PIN number that can be used to access the call. \n \n Webcast Link: https://events.q4inc.com/attendee/616781198 \n\n\n\nContact Information: \nRoger Schrum\nHead of Investor Relations and Communications\nroger.schrum@sonoco.com \n843-339-6018\n\n CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) \n (Dollars and shares in thousands except per share data) \n \n Three Months Ended Nine Months Ended \n September 27, 2026 September 28, 2025 September 27, 2026 September 28, 2025 \n Net sales $ 2,041,575 $ 2,131,108 $ 5,603,502 $ 5,750,777 \n Cost of sales 1,636,255 1,663,757 4,460,177 4,523,462 \n Gross profit 405,320 467,351 1,143,325 1,227,315 \n Selling, general and administrative expenses 186,841 220,966 588,626 648,804 \n Restructuring/Asset impairment charges, net 856,435 48,388 873,501 71,721 \n (Loss)/Gain on divestiture of business — (3,031 ) 775 (9,297 ) \n Operating (loss)/profit (637,956 ) 194,966 (318,027 ) 497,493 \n Non-operating pension costs 2,749 3,054 8,165 9,157 \n Interest expense 46,665 61,243 136,637 181,637 \n Interest income 5,223 4,634 17,938 16,104 \n Other expense, net (8,271 ) (7,541 ) (26,770 ) (20,617 ) \n (Loss)/Income from continuing operations before income taxes (690,418 ) 127,762 (471,661 ) 302,186 \n Provision for income taxes 44,138 7,717 93,199 68,364 \n (Loss)/Income before equity in earnings of affiliates (734,556 ) 120,045 (564,860 ) 233,822 \n Equity in earnings of affiliates, net of tax 2,689 3,020 5,642 7,211 \n Net (loss)/income from continuing operations (731,867 ) 123,065 (559,218 ) 241,033 \n Net income from discontinued operations — — — 429,720 \n Net (loss)/income (731,867 ) 123,065 (559,218 ) 670,753 \n Net (income)/loss from continuing operations attributable to noncontrolling interests (235 ) (147 ) (389 ) 17 \n Net (loss)/income attributable to Sonoco $ (732,102 ) $ 122,918 $ (559,607 ) $ 670,770 \n \n Weighted average common shares outstanding – diluted 99,502 99,648 99,432 99,519 \n \n Diluted (loss)/earnings from continuing operations per common share $ (7.36 ) $ 1.23 $ (5.63 ) $ 2.42 \n Diluted earnings from discontinued operations per common share — — — 4.32 \n Diluted (loss)/earnings attributable to Sonoco per common share $ (7.36 ) $ 1.23 $ (5.63 ) $ 6.74 \n Dividends per common share $ 0.54 $ 0.53 $ 1.61 $ 1.58 \n\n\n\n CONDENSED STATEMENTS OF INCOME FOR DISCONTINUED OPERATIONS (Unaudited) \n (Dollars and shares in thousands except per share data) \n \n Three Months Ended Nine Months Ended \n September 28, 2025 September 28, 2025 \n \n Net sales $ — $ 320,678 \n Cost of sales — 250,854 \n Gross profit — 69,824 \n Selling, general, and administrative expenses — 31,607 \n Restructuring/Asset impairment charges, net — 426 \n Gain on divestiture of business — 625,773 \n Operating profit — 663,564 \n Other expense, net — 182 \n Interest expense — 24,911 \n Interest income — 281 \n Income from discontinued operations before income taxes — 638,752 \n Provision for income taxes — 209,032 \n Net income from discontinued operations — 429,720 \n Net income from discontinued operations attributable to noncontrolling interests — — \n Net income attributable to discontinued operations $ — $ 429,720 \n Weighted average common shares outstanding – diluted 99,648 99,519 \n Diluted earnings from discontinued operations per common share $ — $ 4.32 \n\n\n\n FINANCIAL SEGMENT INFORMATION (Unaudited) \n (Dollars in thousands) \n \n Three Months Ended Nine Months Ended \n September 27, 2026 September 28, 2025 September 27, 2026 September 28, 2025 \n Net sales: \n Consumer Packaging $ 1,396,012 $ 1,438,246 $ 3,734,926 $ 3,731,872 \n Industrial Paper Packaging 645,563 613,611 1,868,576 1,818,804 \n Total reportable segments 2,041,575 2,051,857 5,603,502 5,550,676 \n All Other — 79,251 — 200,101 \n Net sales $ 2,041,575 $ 2,131,108 $ 5,603,502 $ 5,750,777 \n \n \n Operating profit: \n Consumer Packaging $ 178,563 $ 208,985 $ 455,917 $ 510,109 \n Industrial Paper Packaging 87,973 93,773 246,598 256,038 \n Segment operating profit 266,536 302,758 702,515 766,147 \n All Other — 14,386 — 29,511 \n Corporate \n Restructuring/Asset impairment charges, net (856,435 ) (48,388 ) (873,501 ) (71,721 ) \n Amortization of acquisition intangibles (45,633 ) (49,034 ) (135,523 ) (135,188 ) \n Gain/(Loss) on divestiture of business — (3,031 ) 775 (9,297 ) \n Acquisition, integration, and divestiture-related costs (2,161 ) (9,318 ) (10,582 ) (47,745 ) \n Other operating charges, net (263 ) (12,407 ) (1,711 ) (34,214 ) \n Operating (loss)/profit $ (637,956 ) $ 194,966 $ (318,027 ) $ 497,493 \n\n2025 consolidated “net sales,” “operating profit,” and Consumer\nPackaging “segment operating profit” do not include results of the\nCompany’s Thermoformed and Flexibles Packaging business and global Trident\nbusiness (collectively, “TFP”), which was sold in April 2025 and is\naccounted for as discontinued operations in periods prior to the sale.\n\n\n\n CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) \n (Dollars in thousands) \n \n Nine Months Ended \n September 27, 2026 September 28, 2025 \n \n Net (loss)/income $ (559,218 ) $ 670,753 \n Net loss/(gain) on divestiture of business, disposition of assets, and asset impairments 842,991 (601,304 ) \n Depreciation and amortization 390,982 382,623 \n Pension and postretirement plan contributions, net of non-cash expense (5,309 ) (3,589 ) \n Changes in working capital (304,721 ) (299,650 ) \n Changes in tax accounts (93,987 ) 127,412 \n Other operating activity (53,190 ) 651 \n Net cash provided by operating activities 217,548 276,896 \n \n Purchases of property, plant and equipment, net (174,905 ) (248,251 ) \n Proceeds from the sale of business, net (1) (13,076 ) 1,814,899 \n Cost of acquisitions, net of cash acquired (2) — 16,528 \n Net debt repayments (50,598 ) (1,938,409 ) \n Cash dividends (159,182 ) (155,767 ) \n Payments for share repurchases (7,192 ) (10,580 ) \n Other (outflow)/inflow, including effects of exchange rates on cash (7,892 ) 47,490 \n Net decrease in cash and cash equivalents (195,297 ) (197,194 ) \n Cash and cash equivalents at beginning of period 378,398 443,060 \n Cash and cash equivalents at end of period $ 183,101 $ 245,866 \n (1)2026 includes payments of $15,211 and $1,865 to the buyers of TFP and ThermoSafe, respectively, for final net working capital settlements on these 2025 divestitures. \n (2)2025 includes a cash receipt of $16,528 for the final net working capital settlement related to the 2024 acquisition of Eviosys. \n\n\n\n CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) \n (Dollars in thousands) \n September 27, 2026 December 31, 2025 \n Assets \n Current Assets: \n Cash and cash equivalents $ 183,101 $ 378,398 \n Trade accounts receivable, net of allowances 1,117,958 842,810 \n Other receivables 152,736 178,755 \n Inventories, net 1,204,570 1,121,009 \n Prepaid expenses 149,661 125,352 \n Total Current Assets 2,808,026 2,646,324 \n Property, plant and equipment, net 2,658,234 2,797,800 \n Goodwill 1,646,258 2,511,611 \n Other intangible assets, net 2,485,874 2,683,474 \n Right of use asset-operating leases 307,740 307,450 \n Deferred income taxes and other assets 228,809 215,675 \n Total Assets $ 10,134,941 $ 11,162,334 \n Liabilities and Equity \n Current Liabilities: \n Payable to suppliers, accrued expenses and other payables $ 1,803,816 $ 1,861,904 \n Notes payable and current portion of long-term debt 510,041 537,952 \n Accrued taxes 69,218 128,821 \n Total Current Liabilities 2,383,075 2,528,677 \n Long-term debt, net of current portion 3,781,625 3,788,973 \n Noncurrent operating lease liabilities 263,779 263,192 \n Pension and other postretirement benefits 166,115 177,976 \n Deferred income taxes and other liabilities 721,084 771,684 \n Total Liabilities 7,315,678 7,530,502 \n Total Equity 2,819,263 3,631,832 \n Total Liabilities and Equity $ 10,134,941 $ 11,162,334 \n\n\n\nNON-GAAP FINANCIAL MEASURES\n\nThe Company’s results, determined in accordance with U.S. generally accepted\naccounting principles, are referred to as “as reported” or “GAAP”\nresults. The Company uses certain financial performance measures, both\ninternally and externally, that are not in conformity with GAAP (referred to\nas “non-GAAP financial measures”) to assess and communicate the financial\nperformance of the Company. These non-GAAP financial measures, which are\nidentified using the term “Adjusted” (for example, “Adjusted Operating\nProfit,” “Adjusted Net Income Attributable to Sonoco,” and “Adjusted\nDiluted EPS”), reflect adjustments to the Company’s GAAP operating results\nto exclude amounts, including the associated tax effects where applicable,\nrelating to:\n* restructuring/asset impairment charges(1);\n* acquisition, integration and divestiture-related costs;\n* gains or losses from the divestiture of businesses;\n* losses from the early extinguishment of debt;\n* non-operating pension costs;\n* amortization expense on acquisition intangibles;\n* changes in last-in, first-out (“LIFO”) inventory reserves;\n* certain income tax events and adjustments;\n* derivative gains/losses;\n* other non-operating income and losses; and\n* certain other items, if any.\n(1)Restructuring and restructuring-related asset impairment charges are a\nrecurring item as the Company’s restructuring programs usually require\nseveral years to fully implement, and the Company is continually seeking to\ntake actions that could enhance its efficiency. Although recurring, these\ncharges are subject to significant fluctuations from period to period due to\nthe varying levels of restructuring activity, the inherent imprecision in the\nestimates used to recognize the impairment of assets, and the wide variety of\ncosts and taxes associated with severance and termination benefits in the\ncountries in which the restructuring actions occur.\n\nThe Company’s management believes the exclusion of the amounts related to\nthe above-listed items improves the period-to-period comparability and\nanalysis of the underlying financial performance of the business.\n\nIn addition to the “Adjusted” results described above, the Company also\nuses Adjusted EBITDA, Segment Adjusted EBITDA, Segment Adjusted EBITDA Margin,\nand Net Debt. Adjusted EBITDA is defined as net income excluding the\nfollowing: interest expense; interest income; provision for income taxes;\ndepreciation and amortization expense; non-operating pension costs; net\nincome/loss attributable to noncontrolling interests; restructuring/asset\nimpairment charges; changes in LIFO inventory reserves; gains/losses from the\ndivestiture of businesses; acquisition, integration and divestiture-related\ncosts; other income; derivative gains/losses; and other non-GAAP adjustments,\nif any, that may arise from time to time. Segment Adjusted EBITDA is defined\nas segment operating profit plus depreciation and amortization expense and\nequity in earnings of affiliates, net of tax. Segment Adjusted EBITDA Margin\nis defined as Segment Adjusted EBITDA divided by segment net sales. Net Debt\nis defined as the total of the Company’s short and long-term debt less cash\nand cash equivalents.\n\nSegment Adjusted EBITDA is reconciled to the closest GAAP measure of segment\nprofitability, segment operating profit as the Company does not calculate net\nincome by segment. Segment operating profit is the measure of segment profit\nor loss reported to the chief operating decision maker for purposes of making\ndecisions about allocating resources to the segments and assessing their\nperformance in accordance with Accounting Standards Codification 280 -\n“Segment Reporting,” as prescribed by the Financial Accounting Standards\nBoard.\n\nSegment results, which are reviewed by the Company’s management to evaluate\nsegment performance, do not include the following: restructuring/asset\nimpairment charges; amortization of acquisition intangibles; acquisition,\nintegration and divestiture-related costs; changes in LIFO inventory reserves;\ngains/losses from the sale of businesses; gains/losses from derivatives; or\ncertain other items, if any, the exclusion of which the Company believes\nimproves the comparability and analysis of the ongoing operating performance\nof the business. Accordingly, the term “segment operating profit” is\ndefined as the segment’s portion of “operating profit” excluding those\nitems. All other general corporate expenses have been allocated as operating\ncosts to each of the Company’s reportable segments, except for costs related\nto discontinued operations.\n\nThe Company’s non-GAAP financial measures are not calculated in accordance\nwith, nor are they an alternative for, measures conforming to GAAP, and they\nmay be different from non-GAAP financial measures used by other companies. In\naddition, these non-GAAP financial measures are not based on any comprehensive\nset of accounting rules or principles.\n\nThe Company presents these non-GAAP financial measures to provide investors\nwith information to evaluate Sonoco’s operating results in a manner similar\nto how management evaluates business performance. The Company consistently\napplies its non-GAAP financial measures presented herein and uses them for\ninternal planning and forecasting purposes, to evaluate its ongoing\noperations, and to evaluate the ultimate performance of management and each\nbusiness unit against plans/forecasts. In addition, these same non-GAAP\nfinancial measures are used in determining incentive compensation for the\nentire management team and in providing earnings guidance to the investing\ncommunity.\n\nMaterial limitations associated with the use of such measures include that\nthey do not reflect all period costs included in operating expenses and may\nnot be comparable with similarly named financial measures of other companies.\nFurthermore, the calculations of these non-GAAP financial measures are based\non subjective determinations of management regarding the nature and\nclassification of events and circumstances that the investor may find material\nand view differently.\n\nTo compensate for any limitations in such non-GAAP financial measures,\nmanagement believes that it is useful in evaluating the Company’s results to\nreview both GAAP information, which includes all of the items impacting\nfinancial results, and the related non-GAAP financial measures that exclude\ncertain elements, as described above. Further, Sonoco management does not, nor\ndoes it suggest that investors should, consider any non-GAAP financial\nmeasures in isolation from, or as a substitute for, financial information\nprepared in accordance with GAAP. Whenever reviewing a non-GAAP financial\nmeasure, investors are encouraged to review and consider the related\nreconciliation to understand how it differs from the most directly comparable\nGAAP measure.\n\nReferences to 2025 consolidated “adjusted operating profit” and “segment\nadjusted EBITDA” in the following tables do not include results of TFP,\nwhich was sold in April 2025 and is accounted for as discontinued operations\nin periods prior to the sale.\n\nQUARTERLY RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES\n\nThe following tables reconcile the Company’s non-GAAP financial measures to\ntheir most directly comparable GAAP financial measures in the Company’s\nCondensed Consolidated Statements of Income for the three-month periods ended\nSeptember 27, 2026 and September 28, 2025.\n\nAdjusted Operating Profit, Adjusted Income from Continuing Operations Before\nIncome Taxes, Adjusted Provision for Income Taxes, Adjusted Net Income\nAttributable to Sonoco, and Adjusted Diluted EPS\n\n For the three-month period ended September 27, 2026 \n Dollars in thousands, except per share data Operating (Loss)/Income Provision Net Diluted \n (Loss)/Profit from for Income (Loss)/Income EPS \n Continuing Taxes Attributable \n Operations to Sonoco \n Before Income \n Taxes \n As Reported (GAAP) $ (637,956 ) $ (690,418 ) $ 44,138 $ (732,102 ) $ (7.36 ) \n Acquisition, integration and divestiture-related costs (1) 2,161 2,161 318 1,843 0.01 \n Amortization of acquisition intangibles 45,633 45,633 9,938 35,695 0.36 \n Restructuring/Asset impairment charges, net (2) 856,435 856,435 6,839 849,694 8.54 \n Non-operating pension costs — 2,749 712 2,037 0.02 \n Net gains from derivatives (106 ) (106 ) (26 ) (80 ) — \n Other adjustments (3) 1,874 1,874 (8,237 ) 10,111 0.10 \n Total adjustments 905,997 908,746 9,544 899,300 9.03 \n Adjusted $ 268,041 $ 218,328 $ 53,682 $ 167,198 $ 1.67 \n Due to rounding, individual items may not sum appropriately. \n\n(1) Acquisition, integration and divestiture-related costs relate primarily to\nthe Company’s December 2024 acquisition of Eviosys.\n(2) Restructuring/Asset impairment charges, net, primarily reflect total\ngoodwill impairment charges of $828,875 recognized during the third quarter of\n2026, including $802,000 and $26,875 for the Consumer Packaging EMEA/APAC and\nGlobal Paper Products APAC reporting units, respectively.\n(3 )Other adjustments include discrete tax items primarily related to\nprovision-to-return adjustments for the TFP and ThermoSafe divestitures and a\nretroactive U.S. tax election.\n\n\n\n For the three-month period ended September 28, 2025 \n Dollars in thousands, except per share data Operating Income from Provision Net Income Diluted \n Profit Continuing for Income Attributable EPS \n Operations Taxes to Sonoco \n Before Income \n Taxes \n As Reported (GAAP) $ 194,966 $ 127,762 $ 7,717 $ 122,918 $ 1.23 \n Acquisition, integration and divestiture-related costs (1) 9,318 9,318 2,377 6,941 0.07 \n Amortization of acquisition intangibles 49,034 49,034 10,581 38,453 0.39 \n Restructuring/Asset impairment charges, net 48,388 48,388 11,117 37,221 0.37 \n Loss/(Gain) on divestiture of business (2) 3,031 3,031 27,569 (24,538 ) (0.25 ) \n Non-operating pension costs — 3,054 631 2,423 0.02 \n Net losses from derivatives 2,035 2,035 502 1,533 0.02 \n Other adjustments (3) 1,568 1,568 (4,652 ) 6,220 0.07 \n Total adjustments 113,374 116,428 48,125 68,253 0.69 \n Adjusted $ 308,340 $ 244,190 $ 55,842 $ 191,171 $ 1.92 \n Due to rounding, individual items may not sum appropriately. \n\n(1) Acquisition, integration and divestiture-related costs relate primarily to\nthe Company’s December 2024 acquisition of Eviosys and the April 2025\ndivestiture of TFP.\n(2) Loss/(Gain) on divestiture of business includes the recognition of a\ndeferred tax benefit on the outside basis difference related to the ThermoSafe\nbusiness being classified as held for sale.\n(3) Other adjustments include an adjustment to deferred taxes from the\npost-acquisition restructuring of the partitions business, provision-to-return\nadjustments related to the divested TFP business, and an increase in the\nvaluation allowance on foreign tax credits.\n\n\n\n Adjusted EBITDA (1) \n Three Months Ended \n Dollars in thousands September 27, September 28, \n 2026 2025 \n Net (loss)/income attributable to Sonoco $ (732,102 ) $ 122,918 \n Adjustments: \n Interest expense 46,665 61,243 \n Interest income (5,223 ) (4,634 ) \n Provision for income taxes 44,138 7,717 \n Depreciation and amortization 134,857 131,656 \n Non-operating pension costs 2,749 3,054 \n Net income attributable to noncontrolling interests 235 147 \n Restructuring/Asset impairment charges, net 856,435 48,388 \n Loss on divestiture of business — 3,031 \n Acquisition, integration and divestiture-related costs 2,161 9,318 \n Net (gain)/loss from derivatives (106 ) 2,035 \n Other non-GAAP adjustments 1,874 1,568 \n Adjusted EBITDA $ 351,683 $ 386,441 \n\n(1 )For the three-month period ended September 28, 2025, adjusted EBITDA is\ncalculated on a total Company basis, including both continuing and\ndiscontinued operations.\n\n\n\n Segment Adjusted EBITDA and Adjusted EBITDA Margin Reconciliation \n For the Three Months Ended September 27, 2026 \n \n Dollars in thousands Consumer Industrial Corporate Total \n Segment and Total Operating Profit/(Loss) (1) $ 178,563 $ 87,973 $ (904,492 ) $ (637,956 ) \n Adjustments: \n Depreciation and amortization (2) 58,048 31,176 45,633 134,857 \n Other expense, net (3) — — (8,271 ) (8,271 ) \n Equity in earnings of affiliates, net of tax 217 2,472 — 2,689 \n Restructuring/Asset impairment charges, net (4) — — 856,435 856,435 \n Acquisition, integration and divestiture-related costs (5) — — 2,161 2,161 \n Net gain from derivatives (6) — — (106 ) (106 ) \n Other non-GAAP adjustments — — 1,874 1,874 \n Segment Adjusted EBITDA $ 236,828 $ 121,621 $ (6,766 ) $ 351,683 \n \n Net Sales $ 1,396,012 $ 645,563 \n Segment Operating Profit Margin 12.8 % 13.6 % \n Segment Adjusted EBITDA Margin 17.0 % 18.8 % \n\n(1)As previously announced, effective January 1, 2026, results for Industrial\nPlastics, previously included in the All Other group of businesses, are\nincluded in the Industrial segment. The Company no longer reports the results\nof any of its businesses in All Other.\n(2)Included in Corporate is the amortization of acquisition intangibles\nassociated with the Consumer segment of $40,576 and the Industrial segment of\n$5,057.\n(3)These expenses relate to charges from third-party financial institutions\nrelated to our centralized treasury program under which the Company sells\ncertain trade accounts receivables in order to accelerate its cash collection\ncycle, primarily within the Consumer segment.\n(4)Included in Corporate are restructuring/asset impairment charges associated\nwith the Consumer segment of $835,670 and the Industrial segment of $20,196.\n(5)Included in Corporate are acquisition, integration and divestiture-related\ncosts associated with the Consumer segment of $433 and the Industrial segment\nof $7.\n(6)Included in Corporate are net gains from derivatives associated with the\nConsumer segment of $3 and the Industrial segment of $(109).\n\n\n\n Segment and All Other Adjusted EBITDA and Adjusted EBITDA Margin Reconciliation \n For the Three Months Ended September 28, 2025 \n Excludes results of discontinued operations \n Dollars in thousands Consumer Industrial All Other Corporate Total \n Segment and Total Operating Profit $ 208,985 $ 93,773 $ 14,386 $ (122,178 ) $ 194,966 \n Adjustments: \n Depreciation and amortization (1) 50,419 30,896 1,307 49,034 131,656 \n Other expense, net (2) — — — (7,541 ) (7,541 ) \n Equity in earnings of affiliates, net of tax 190 2,830 — — 3,020 \n Restructuring/Asset impairment charges, net (3) — — — 48,388 48,388 \n Acquisition, integration and divestiture-related costs (4) — — — 9,318 9,318 \n Loss on divestiture of business (5) — — — 3,031 3,031 \n Net loss from derivatives (6) — — — 2,035 2,035 \n Other non-GAAP adjustments — — — 1,568 1,568 \n Segment Adjusted EBITDA $ 259,594 $ 127,499 $ 15,693 $ (16,345 ) $ 386,441 \n \n Net Sales $ 1,438,246 $ 613,611 $ 79,251 \n Segment Operating Profit Margin 14.5 % 15.3 % 18.2 % \n Segment Adjusted EBITDA Margin 18.0 % 20.8 % 19.8 % \n\n(1)Included in Corporate is the amortization of acquisition intangibles\nassociated with the Consumer segment of $43,397, the Industrial segment of\n$5,485, and the All Other group of businesses of $152.\n(2)These expenses relate to charges from third-party financial institutions\nrelated to our centralized treasury program under which the Company sells\ncertain trade accounts receivables in order to accelerate its cash collection\ncycle, primarily within the Consumer segment.\n(3)Included in Corporate are restructuring/asset impairment charges associated\nwith the Consumer segment of $35,027 and the Industrial segment of $11,181.\n(4)Included in Corporate are acquisition, integration and divestiture-related\ncosts associated with the Consumer segment of $1,293 and the Industrial\nsegment of $97.\n(5)Included in Corporate is a loss on divestiture of business of $31\nassociated with the Industrial segment related to the sale of a recycling\noperation in Asheville, North Carolina, and a $3,000 charge related to the\ndivestiture of ThermoSafe, previously part of the All Other group of\nbusinesses.\n(6)Included in Corporate are net losses from derivatives associated with the\nConsumer segment of $196, the Industrial segment of $1,760, and the All Other\ngroup of businesses of $79.\n\n\n\nYEAR-TO-DATE RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES\n\nThe following tables reconcile the Company’s non-GAAP financial measures to\ntheir most directly comparable GAAP financial measures in the Company’s\nCondensed Consolidated Statements of Income for the nine-month periods ended\nSeptember 27, 2026 and September 28, 2025.\n\nAdjusted Operating Profit, Adjusted Income from Continuing Operations Before\nIncome Taxes, Adjusted Provision for Income Taxes, Adjusted Net Income\nAttributable to Sonoco, and Adjusted Diluted EPS\n\n For the nine-month period ended September 27, 2026 \n Dollars in thousands, except per share data Operating (Loss)/Income Provision Net Diluted \n (Loss)/Profit from for Income (Loss)/Income EPS \n Continuing Taxes Attributable \n Operations to Sonoco \n Before Income \n Taxes \n As Reported (GAAP) $ (318,027 ) $ (471,661 ) $ 93,199 $ (559,607 ) $ (5.63 ) \n Acquisition, integration and divestiture-related costs (1) 10,582 10,582 1,665 8,917 0.09 \n Changes in LIFO inventory reserves 5,521 5,521 1,367 4,154 0.04 \n Amortization of acquisition intangibles 135,523 135,523 29,738 105,785 1.06 \n Restructuring/Asset impairment charges, net (2) 873,501 873,501 10,344 863,267 8.68 \n Gain on divestiture of business, net (3) (775 ) (775 ) (188 ) (587 ) (0.01 ) \n Other expense, net (4) — 6,592 — 6,592 0.07 \n Non-operating pension costs — 8,165 2,106 6,059 0.06 \n Net losses from derivatives 61 61 15 46 — \n Other adjustments 4,901 4,901 2,450 2,451 0.02 \n Total adjustments 1,029,314 1,044,071 47,497 996,684 10.01 \n Adjusted $ 711,287 $ 572,410 $ 140,696 $ 437,077 $ 4.38 \n Due to rounding, individual items may not sum appropriately. \n\n(1) Acquisition, integration and divestiture-related costs relate primarily to\nthe Company’s December 2024 acquisition of Eviosys and the November 2025\ndivestiture of ThermoSafe.\n(2 )Restructuring/Asset impairment charges, net, primarily reflect total\ngoodwill impairment charges of $828,875 recognized during the third quarter of\n2026, including $802,000 and $26,875 for the Consumer Packaging EMEA/APAC and\nGlobal Paper Products APAC reporting units, respectively.\n(3) Gain on divestiture of business, net reflects the gain of $2,640 from the\nsale of a recycling operation in Savannah, Georgia, partially offset by a\ncharge of $1,865 from the final net working capital settlement related to the\nNovember 2025 divestiture of ThermoSafe. \n(4) Amount relates to certain pre-acquisition liabilities related to the\nSonoco Metal Packaging EMEA business.\n\n\n\n For the nine-month period ended September 28, 2025 \n Dollars in thousands, except per share data Operating Income Provision Net Diluted \n Profit from for Income Income EPS \n Continuing Taxes Attributable \n Operations to Sonoco \n Before Income \n Taxes \n As Reported (GAAP) (1) $ 497,493 $ 302,186 $ 68,364 $ 670,770 $ 6.74 \n Acquisition, integration and divestiture-related costs (2) 47,745 47,745 11,134 46,277 0.47 \n Changes in LIFO inventory reserves 1,755 1,755 433 1,322 0.01 \n Amortization of acquisition intangibles 135,188 135,188 29,586 105,389 1.06 \n Restructuring/Asset impairment charges, net 71,721 71,721 16,514 55,109 0.55 \n Loss/(Gain) on divestiture of business (3) 9,297 9,297 28,455 (443,706 ) (4.46 ) \n Non-operating pension costs — 9,157 2,190 6,967 0.07 \n Net losses from derivatives 1,240 1,240 306 934 0.01 \n Other adjustments (4) 3,562 3,562 (14,456 ) 21,064 0.21 \n Total adjustments 270,508 279,665 74,162 (206,644 ) (2.08 ) \n Adjusted $ 768,001 $ 581,851 $ 142,526 $ 464,126 $ 4.66 \n Due to rounding, individual items may not sum appropriately. \n\n(1) Operating profit, income from continuing operations before income taxes,\nand provision for income taxes exclude results related to discontinued\noperations of $663,564, $638,752, and $209,032, respectively.\n(2) Acquisition, integration and divestiture-related costs relate primarily to\nthe Company’s December 2024 acquisition of Eviosys and the April 2025\ndivestiture of TFP.\n(3) Loss/(Gain) on divestiture of business primarily consists of the gain on\nthe sale of TFP, included in “Net income from discontinued operations” in\nthe Company’s Condensed Consolidated Statements of Income, and the\nrecognition of a deferred tax benefit on the outside basis difference related\nto the ThermoSafe business being classified as held for sale.\n(4) Other adjustments include discrete tax items primarily related to tax rate\nchanges, an adjustment to deferred taxes from post-acquisition restructuring\nof the partitions business, provision-to-return adjustments related to the\ndivested TFP business, and an increase in the valuation allowance on foreign\ntax credits.\n\n Adjusted EBITDA (1) \n Nine Months Ended \n Dollars in thousands September 27, September 28, \n 2026 2025 \n \n Net (loss)/income attributable to Sonoco $ (559,607 ) $ 670,770 \n Adjustments: \n Interest expense 136,637 206,548 \n Interest income (17,938 ) (16,385 ) \n Provision for income taxes 93,199 277,396 \n Depreciation and amortization 390,982 382,623 \n Non-operating pension costs 8,165 9,157 \n Non-operating other expense 6,592 — \n Net income/(loss) attributable to noncontrolling interests 389 (17 ) \n Restructuring/Asset impairment charges, net 873,501 72,147 \n Changes in LIFO inventory reserves 5,521 1,755 \n Gain on divestiture of business (775 ) (616,476 ) \n Acquisition, integration and divestiture-related costs 10,582 60,421 \n Net loss from derivatives 61 1,240 \n Other non-GAAP adjustments 4,901 2,949 \n Adjusted EBITDA $ 952,210 $ 1,052,128 \n \n Net Sales $ 5,603,502 $ 5,750,777 \n Net sales related to discontinued operations $ — $ 320,678 \n\n(1)For the nine-month period ended September 28, 2025, Adjusted EBITDA is\ncalculated on a total Company basis, including both continuing and\ndiscontinued operations.\n\n\n\nThe following tables reconcile segment operating profit, the closest GAAP\nmeasure of profitability, to segment adjusted EBITDA.\n\n Segment and All Other Adjusted EBITDA and Adjusted EBITDA Margin Reconciliation \n For the Nine Months Ended September 27, 2026 \n Excludes results of discontinued operations \n Dollars in thousands Consumer Industrial Corporate Total \n Segment and Total Operating Profit/(Loss) (1) $ 455,917 $ 246,598 $ (1,020,542 ) $ (318,027 ) \n Adjustments: \n Depreciation and amortization (2) 163,673 91,786 135,523 390,982 \n Other expense, net (3) — — (20,178 ) (20,178 ) \n Equity in earnings of affiliates, net of tax 491 5,151 — 5,642 \n Restructuring/Asset impairment charges, net (4) — — 873,501 873,501 \n Changes in LIFO inventory reserves (5) — — 5,521 5,521 \n Acquisition, integration and divestiture-related costs (6) — — 10,582 10,582 \n Gain on divestiture of business (7) — — (775 ) (775 ) \n Net loss from derivatives (8) — — 61 61 \n Other non-GAAP adjustments — — 4,901 4,901 \n Segment Adjusted EBITDA $ 620,081 $ 343,535 $ (11,406 ) $ 952,210 \n \n Net Sales $ 3,734,926 $ 1,868,576 \n Segment Operating Profit Margin 12.2 % 13.2 % \n Segment Adjusted EBITDA Margin 16.6 % 18.4 % \n\n(1 )As previously announced, effective January 1, 2026, results for Industrial\nPlastics, previously included in the All Other group of businesses, are\nincluded in the Industrial segment. The Company no longer reports the results\nof any of its businesses in All Other.\n(2 )Included in Corporate is the amortization of acquisition intangibles\nassociated with the Consumer segment of $120,451 and the Industrial segment of\n$15,072.\n(3 )These expenses relate to charges from third-party financial institutions\nrelated to our centralized treasury program under which the Company sells\ncertain trade accounts receivable in order to accelerate its cash collection\ncycle primarily within the Consumer segment.\n(4 )Included in Corporate are restructuring/asset impairment charges\nassociated with the Consumer segment of $844,607 and the Industrial segment of\n$27,392.\n(5 )Included in Corporate are changes in LIFO inventory reserves associated\nwith the Consumer segment of $4,996 and the Industrial segment of $525.\n(6 )Included in Corporate are acquisition, integration and divestiture-related\ncosts associated with the Consumer segment of $3,707 and the Industrial\nsegment of $159.\n(7 )Included in Corporate is a gain of $2,640 from the sale of a recycling\nfacility in Savannah, Georgia, part of the Industrial segment, partially\noffset by a charge of $1,865 from the final net working capital settlement\nrelated to the divestiture of ThermoSafe, previously part of the All Other\ngroup of businesses.\n(8 )Included in Corporate are net losses from derivatives associated with the\nConsumer segment of $7 and the Industrial segment of $54.\n\n\n\n Segment and All Other Adjusted EBITDA and Adjusted EBITDA Margin Reconciliation \n For the Nine Months Ended September 28, 2025 \n Excludes results of discontinued operations \n Dollars in thousands Consumer Industrial All Other Corporate Total \n Segment and Total Operating Profit $ 510,109 $ 256,038 $ 29,511 $ (298,165 ) $ 497,493 \n Adjustments: \n Depreciation and amortization (1) 152,175 90,764 4,807 135,188 382,934 \n Other expense, net (2) — — — (20,617 ) (20,617 ) \n Equity in earnings of affiliates, net of tax 309 6,902 — — 7,211 \n Restructuring/Asset impairment charges, net (3) — — — 71,721 71,721 \n Changes in LIFO inventory reserves (4) — — — 1,755 1,755 \n Acquisition, integration and divestiture-related costs (5) — — — 47,745 47,745 \n Loss on divestiture of business (6) — — — 9,297 9,297 \n Net loss from derivatives (7) — — — 1,240 1,240 \n Other non-GAAP adjustments — — — 3,562 3,562 \n Segment Adjusted EBITDA $ 662,593 $ 353,704 $ 34,318 $ (48,274 ) $ 1,002,341 \n \n Net Sales $ 3,731,872 $ 1,818,804 $ 200,101 \n Segment Operating Profit Margin 13.7 % 14.1 % 14.7 % \n Segment Adjusted EBITDA Margin 17.8 % 19.4 % 17.2 % \n\n(1)Included in Corporate is the amortization of acquisition intangibles\nassociated with the Consumer segment of $118,232, the Industrial segment of\n$16,405, and All Other of $551.\n(2)These expenses relate to charges from third-party financial institutions\nrelated to our centralized treasury program under which the Company sells\ncertain trade accounts receivables in order to accelerate its cash collection\ncycle primarily within the Consumer segment.\n(3)Included in Corporate are restructuring/asset impairment charges associated\nwith the Consumer segment of $37,736, the Industrial segment of $31,907, and\nAll Other of $10.\n(4)Included in Corporate are changes in LIFO inventory reserves associated\nwith the Consumer segment of $1,755.\n(5)Included in Corporate are acquisition, integration and divestiture-related\ncosts associated with the Consumer segment of $22,502 and the Industrial\nsegment of $528.\n(6)Included in Corporate are net losses from the divestiture of businesses\nwithin the Industrial segment of $6,297, including a loss of $2,114 from the\nsale of a recycling facility in Asheville, N.C. and losses totaling $4,183\nrelated to the sale of a production facility in France and the entirety of our\nbusiness in Venezuela.\n(7)Included in Corporate are net gains from derivatives associated with the\nConsumer segment of $120, the Industrial segment of $1,072, and All Other of\n$48.\n\n\n\nFREE CASH FLOW\n\nThe Company uses the non-GAAP financial measure of “Free Cash Flow,” which\nit defines as cash flow from operations minus net capital expenditures. Net\ncapital expenditures are defined as capital expenditures minus proceeds from\nthe disposition of capital assets. Free Cash Flow may not represent the amount\nof cash flow available for general discretionary use because it excludes\nnon-discretionary expenditures, such as mandatory debt repayments and required\nsettlements of recorded and/or contingent liabilities not reflected in cash\nflow from operations.\n\nThe reconciliation of the GAAP measure “Net cash provided by operating\nactivities” to the non-GAAP measure “Free Cash Flow” is set forth in the\ntable below:\n\n Nine Months Ended \n September 27, September 28, \n 2026 2025 \n \n Net cash provided by operating activities $ 217,548 $ 276,896 \n Purchases of property, plant and equipment (188,664 ) (253,411 ) \n Proceeds from the sale of assets, net 13,759 5,160 \n Net capital expenditures (174,905 ) (248,251 ) \n Free cash flow $ 42,643 $ 28,645 \n \n\n\n\nNET DEBT\n\nThe reconciliation of the GAAP measure “Total Debt” to the non-GAAP\nmeasure of “Net Debt” is set forth in the table below:\n\n September 27, \n 2026 \n \n Total Debt $ 4,291,666 \n Less: Cash and cash equivalents 183,101 \n Net Debt $ 4,108,565 \n\n\n\nThis press release was published by a CLEAR® Verified individual.\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/f73aaeef-54c7-4840-ba7d-659e32c9abb9)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-10-21T21:00:00.929701766Z","server_sent_at_ms":1792616400929},"received_at":"2026-10-21T21:00:01.112Z","source_url":null},"analysis":{"id":"164206","press_release_id":"176218","analysis_json":{"industry":{"label":"Containers & Packaging","sector":"Materials"},"redFlags":["$829 million goodwill impairment on Consumer EMEA/APAC and Industrial APAC businesses signals impairment of recently acquired international assets","full-year operating cash flow guidance lowered","adjusted EPS down 13% YoY with price/cost headwinds from inflation and tariffs","net debt of $4.1 billion against $43 million YTD free cash flow"],"eventType":"earnings","narrative":"Sonoco reported Q3 2026 net sales of $2.04 billion, down 4.2% year-over-year, and a GAAP net loss of $(732) million, or $(7.36) per share, driven by an $829 million non-cash goodwill impairment in its Consumer EMEA/APAC and Industrial APAC businesses.\n\nAdjusted EPS fell 13% to $1.67 from $1.92, missing expectations, with the Consumer segment down on weak food can volumes from drought-impacted harvests while Industrial sales rose 5.2% on pricing.\n\nManagement cut full-year operating cash flow guidance to $600-650 million and is targeting adjusted EPS of $5.30-$5.50, citing inflation, tariffs, and cost pressures; the company nonetheless generated $285 million of Q3 operating cash flow and refinanced an $800 million term loan.","sentiment":"bearish","agentHooks":{"shouldPost":true,"suggestedAngle":"Sonoco swings to a big GAAP loss on an $829M goodwill impairment and misses on adjusted EPS -- watch whether the Profitability Performance Plan can offset persistent price/cost headwinds."},"keyFigures":{"revenue":2041575000,"guidance":"Revised FY2026: net sales $7.20B-$7.40B; adjusted EPS $5.30-$5.50; adjusted EBITDA $1.20B-$1.25B; operating cash flow lowered to $600M-$650M","revenueYoy":"-4.2%","customDimensions":{"net_debt":4100000000,"liquidity":1300000000,"total_debt":4300000000,"adjusted_eps":1.67,"adjusted_ebitda":352000000,"dividends_paid_ytd":159000000,"free_cash_flow_ytd":43000000,"goodwill_impairment":829000000,"operating_cash_flow_q3":285000000,"adjusted_eps_yoy_change":"-13.0%","operating_cash_flow_ytd":218000000,"adjusted_ebitda_yoy_change":"-9.0%","consumer_segment_net_sales":1396000000,"industrial_segment_net_sales":646000000,"consumer_segment_sales_yoy_change":"-2.9%","industrial_segment_sales_yoy_change":"5.2%"}},"quotedText":"While our third-quarter performance fell short of our expectations, we are taking targeted actions through our Profitability Performance Plan to further reduce costs, improve productivity and address the impact of inflationary pressures.","namedEntities":{"people":[{"name":"Howard Coker","role":"President and CEO"},{"name":"Paul Joachimczyk","role":"CFO"},{"name":"Roger Schrum","role":"Head of Investor Relations and Communications"}],"products":["ThermoSafe (divested)","TFP (divested)","Industrial Plastics","URB (uncoated recycled board)"],"companies":[{"name":"Sonoco Products Company","ticker":"SON","relationship":"filer"},{"name":"Eviosys","relationship":"recently acquired business (Dec 2024)"}],"dollarAmounts":[{"amount":"$(829) million","context":"non-cash goodwill impairment charge"},{"amount":"$2.0 billion","context":"Q3 2026 net sales"},{"amount":"$285 million","context":"Q3 operating cash flow"},{"amount":"$800 million","context":"new term loan facilities added via amended credit agreement"},{"amount":"$1.3 billion","context":"liquidity at September 27, 2026"},{"amount":"$4.3 billion","context":"total debt"},{"amount":"$159 million","context":"dividends returned to shareholders, first nine months 2026"},{"amount":"$7.20 billion to $7.40 billion","context":"revised FY2026 net sales guidance"}]},"materialImpact":{"score":4,"reasoning":"Large earnings miss: adjusted EPS fell 13% YoY to $1.67 and GAAP swung to a $(732) million net loss on an $829 million goodwill impairment, with full-year operating cash flow guidance cut. Non-cash impairment limits severity but signals impairment of recently acquired international businesses."},"tickerRelevance":{"others":[],"primary":"SON"},"globalImportance":45,"audienceRelevance":35,"eventTypeSecondary":["guidance_update"],"importanceComponents":{"tickerTier":"mid-cap S&P 500 member","eventGravity":"earnings miss with major goodwill impairment and guidance cut","sectorWeight":"packaging","impairmentMateriality":"non-cash but signals underlying business deterioration"}},"event_type":"earnings","event_type_secondary":["guidance_update"],"sentiment":"bearish","material_impact_score":4,"narrative":"Sonoco reported Q3 2026 net sales of $2.04 billion, down 4.2% year-over-year, and a GAAP net loss of $(732) million, or $(7.36) per share, driven by an $829 million non-cash goodwill impairment in its Consumer EMEA/APAC and Industrial APAC businesses.\n\nAdjusted EPS fell 13% to $1.67 from $1.92, missing expectations, with the Consumer segment down on weak food can volumes from drought-impacted harvests while Industrial sales rose 5.2% on pricing.\n\nManagement cut full-year operating cash flow guidance to $600-650 million and is targeting adjusted EPS of $5.30-$5.50, citing inflation, tariffs, and cost pressures; the company nonetheless generated $285 million of Q3 operating cash flow and refinanced an $800 million term loan.","key_figures":{"revenue":2041575000,"guidance":"Revised FY2026: net sales $7.20B-$7.40B; adjusted EPS $5.30-$5.50; adjusted EBITDA $1.20B-$1.25B; operating cash flow lowered to $600M-$650M","revenueYoy":"-4.2%","customDimensions":{"net_debt":4100000000,"liquidity":1300000000,"total_debt":4300000000,"adjusted_eps":1.67,"adjusted_ebitda":352000000,"dividends_paid_ytd":159000000,"free_cash_flow_ytd":43000000,"goodwill_impairment":829000000,"operating_cash_flow_q3":285000000,"adjusted_eps_yoy_change":"-13.0%","operating_cash_flow_ytd":218000000,"adjusted_ebitda_yoy_change":"-9.0%","consumer_segment_net_sales":1396000000,"industrial_segment_net_sales":646000000,"consumer_segment_sales_yoy_change":"-2.9%","industrial_segment_sales_yoy_change":"5.2%"}},"named_entities":{"people":[{"name":"Howard Coker","role":"President and CEO"},{"name":"Paul Joachimczyk","role":"CFO"},{"name":"Roger Schrum","role":"Head of Investor Relations and Communications"}],"products":["ThermoSafe (divested)","TFP (divested)","Industrial Plastics","URB (uncoated recycled board)"],"companies":[{"name":"Sonoco Products Company","ticker":"SON","relationship":"filer"},{"name":"Eviosys","relationship":"recently acquired business (Dec 2024)"}],"dollarAmounts":[{"amount":"$(829) million","context":"non-cash goodwill impairment charge"},{"amount":"$2.0 billion","context":"Q3 2026 net sales"},{"amount":"$285 million","context":"Q3 operating cash flow"},{"amount":"$800 million","context":"new term loan facilities added via amended credit agreement"},{"amount":"$1.3 billion","context":"liquidity at September 27, 2026"},{"amount":"$4.3 billion","context":"total debt"},{"amount":"$159 million","context":"dividends returned to shareholders, first nine months 2026"},{"amount":"$7.20 billion to $7.40 billion","context":"revised FY2026 net sales guidance"}]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:5c812bd9e28b810d","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-10-21T21:00:09.274Z","global_importance":45,"audience_relevance":35,"importance_components":{"tickerTier":"mid-cap S&P 500 member","eventGravity":"earnings miss with major goodwill impairment and guidance cut","sectorWeight":"packaging","impairmentMateriality":"non-cash but signals underlying business deterioration"}},"durationMs":8023,"modelName":"glm-5.3-flashx"}}