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Sep 29, 2024
Sonoco Q3 2024 Earnings Report
Sonoco's Q3 2024 performance reflected strong productivity and seasonal demand, with earnings within expectations.
Key Takeaways
Sonoco reported a GAAP net income attributable to Sonoco of $51 million and an adjusted EBITDA of $281 million. The company saw increased consumer and industrial volumes, offset by price/cost headwinds. They reaffirmed full year 2024 guidance for Adjusted EBITDA and operating cash flow.
GAAP net income attributable to Sonoco was $51 million, with diluted earnings per share of $0.51 and Adjusted diluted earnings per share of $1.49.
Productivity improvements generated $39 million during the third quarter of 2024.
An agreement was entered into on June 24, 2024, to acquire Eviosys for approximately $3.9 billion, with completion expected in the fourth quarter of 2024.
A strategic review of the Thermoformed and Flexible Packaging business was announced to accelerate portfolio simplification, with the review expected to be completed in the fourth quarter of 2024.
Revenue by Segment
Forward Guidance
Sonoco provided fourth quarter 2024 Adjusted EPS guidance of $1.15 to $1.35 and full year 2024 Adjusted EPS guidance of $5.05 to $5.25. Full year 2024 cash flow from operating activities is expected to be $650 million to $750 million, and Adjusted EBITDA is expected to be $1,050 to $1,090.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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