Sonoco Q3 2022 Earnings Report
Key Takeaways
Sonoco's Q3 2022 results showed a 34% increase in net sales to $1.9 billion, driven by strategic pricing and the Sonoco Metal Packaging acquisition. GAAP operating profit increased by 44% to $182 million, and base EPS grew by 60% to $1.60. The company also increased its full-year 2022 base earnings guidance.
Third-quarter results exceeded the high end of guidance.
Announced the Skjern Paper acquisition to expand production capacity in Europe.
Launched state-of-the-art uncoated recycled paperboard (URB) #10 machine in the Hartsville Mill Complex.
Released updated Corporate Responsibility Report highlighting commitments to ESG initiatives.
Sonoco
Sonoco
Sonoco Revenue by Segment
Forward Guidance
Sonoco projects Q4 2022 base EPS to be in the range of $1.20 to $1.30 and full year 2022 base EPS to be in the range of $6.40 to $6.50. Cash flow from operating activities is projected to be $565 to $615 million with free cash flow of $265 to $315 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income