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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported): October 31, 2024
 
SONOCO PRODUCTS COMPANY
 Commission File No. 001-11261
 
South Carolina
57-0248420
(State or other jurisdiction of incorporation)(IRS Employer Identification No.)
1 N. Second St.
Hartsville, South Carolina 29550
(Address of principal executive offices)(Zip Code)
(843) 383-7000
(Registrant's telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading symbol(s)Name of each exchange on which registered
No par value common stock
SONNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company    ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards pursuant to Section 13(a) of the Exchange Act. ☐




Item 2.02    Results of Operations and Financial Condition.

On October 31, 2024, Sonoco Products Company (the "Company") issued a news release reporting its financial results for the quarter ended September 29, 2024. The Company also provided guidance for the fourth quarter and full year 2024. A copy of that release is attached as an exhibit hereto.


Item 9.01    Financial Statements and Exhibits.

(d) Exhibits
Exhibit No.Description of Exhibit
99
104Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)








SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
SONOCO PRODUCTS COMPANY
Date: October 31, 2024By:/s/Robert R. Dillard
Robert R. Dillard
Chief Financial Officer



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October 31, 2024

Sonoco Reports Third Quarter 2024 Results


Hartsville, S.C., U.S. - Sonoco Products Company (“Sonoco” or the “Company”) (NYSE: SON), one of the largest sustainable global packaging companies, today reported financial results for its third quarter ended September 29, 2024.
Summary:

•Achieved GAAP net income attributable to Sonoco of $51 million, Adjusted EBITDA of $281 million, diluted earnings per share of $0.51 and Adjusted diluted earnings per share of $1.49
•Generated productivity improvements of $39 million during the third quarter of 2024 and $141 million during the first nine months of 2024
•Generated $438 million of operating cash flow and $171 million of Free Cash Flow during the first nine months of 2024
•Entered into an agreement on June 24, 2024, to acquire Eviosys for approximately €3.6 billion (approximately $3.9 billion); on track to complete the acquisition in the fourth quarter of 2024
•Secured financing for the Eviosys acquisition by entering into new term loan agreements and completing a public offering of senior unsecured notes
•Announced strategic review of the Thermoformed and Flexible Packaging (“TFP”) business to accelerate portfolio simplification; review expected to be completed in the fourth quarter of 2024
•Reaffirms full year 2024 guidance for Adjusted EBITDA and operating cash flow (excluding effects of the pending Eviosys acquisition and potential divestitures)

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Sonoco Reports Third Quarter 2024 Results - Page 2
Third Quarter 2024 Consolidated Results
(Dollars in millions except per share data)
Three Months Ended
GAAP ResultsSeptember 29, 2024October 1, 2023Change
Net sales1
$1,676 $1,710 (2)%
Operating profit$128 $163 (21)%
Net income attributable to Sonoco$51 $131 (61)%
EPS (diluted)$0.51 $1.32 (61)%
1Net sales for the three months ended October 1, 2023 include $21 million from recycling operations. Effective January 1, 2024, recycling operations are conducted as a procurement function, hence, recycling sales margins are only reflected in cost of sales.
Three Months Ended
Non-GAAP Results2
September 29, 2024October 1, 2023Change
Adjusted operating profit$211 $213 (1)%
Adjusted EBITDA$281 $280 — %
Adjusted net income attributable to Sonoco
$148 $145 2 %
Adjusted EPS (diluted)$1.49 $1.46 2 %
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 U.S. generally accepted accounting principles (“GAAP”) financial measures later in this release.

•Net sales of $1.7 billion reflect the Protective Solutions (“Protexic”) divestiture, the closure of a thermoformed food packaging plant, the treatment of recycling operations as a procurement function beginning January 1, 2024 and lower selling prices; overall volumes were positive and up low single digits including the impact of acquisitions
•GAAP operating profit was $128 million from higher acquisition-related costs and net loss on divestitures; unfavorable price/cost was offset by higher productivity from procurement savings, production efficiencies and fixed cost reduction initiatives
•Effective tax rates on GAAP net income attributable to Sonoco and Adjusted net income attributable to Sonoco were 30.4% and 21.3%, respectively, in Q3 2024, compared to 23.6% and 22.7%, respectively, in Q3 2023
•GAAP net income attributable to Sonoco was $51 million, resulting in GAAP EPS (diluted) of $0.51
•Adjusted operating profit and Adjusted EBITDA were $211 million and $281 million, respectively
•Adjusted net income attributable to Sonoco increased to $148 million, resulting in Adjusted diluted EPS of $1.49

“Our third-quarter results were within expectations from seasonally higher Consumer Packaging demand and continued strong productivity,” said Sonoco’s President and CEO, Howard Coker. “Consumer and Industrial volumes were higher year-over-year and price/cost headwinds were persistent across both segments. Overall, we achieved strong profit margin and operating cash flow in the quarter from the solid execution of our global team.”

Third Quarter 2024 Segment Results
(Dollars in millions except per share data)

Sonoco reports its financial results in two reportable segments: Consumer Packaging (“Consumer”) and Industrial Paper Packaging (“Industrial”), with all remaining businesses reported as All Other.

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Sonoco Reports Third Quarter 2024 Results - Page 3
Three Months Ended
Consumer PackagingSeptember 29, 2024October 1, 2023Change
Net sales$984 $985 — %
Segment operating profit$123 $117 5 %
Segment operating profit margin13 %12 %
Segment Adjusted EBITDA1
$160 $151 6 %
Segment Adjusted EBITDA margin1
16 %15 %

•Consumer segment net sales were consistent with prior year results; higher sales from year-over-year volume growth in metal aerosol cans and flexible packaging were offset by the closure of a thermoformed food packaging plant and lower selling prices.
•Segment operating profit margin increased to 13% and Adjusted EBITDA margin to 16% as a result of higher productivity from procurement savings, production efficiencies, and fixed cost reduction initiatives, and higher volumes.
    
Three Months Ended
Industrial Paper PackagingSeptember 29, 2024October 1, 2023Change
Net sales2
$585 $580 1 %
Segment operating profit$70 $75 (6)%
Segment operating profit margin12 %13 %
Segment Adjusted EBITDA1
$102 $105 (3)%
Segment Adjusted EBITDA margin1
17 %18 %
•Industrial segment net sales were $585 million from acquisitions and higher selling prices, and reflect lower sales related to the treatment of recycling as a procurement function effective January 1, 2024.
•Segment operating profit margin was 12% and Adjusted EBITDA margin was 17% as productivity from procurement savings, production efficiencies and fixed cost reduction initiatives was offset by continued pressure from price/cost impacts.


Three Months Ended
All OtherSeptember 29, 2024October 1, 2023Change
Net sales$107 $146 (26)%
Operating profit$17 $21 (16)%
Operating profit margin16 %14 %
Adjusted EBITDA1
$20 $25 (18)%
Adjusted EBITDA margin1
19 %17 %
•Net sales were $107 million reflecting the sale of the Protexic business.
•Operating profit and Adjusted EBITDA margins were 16% and 19%, respectively, reflecting higher productivity from procurement savings, production efficiencies, and fixed cost reduction initiatives, and the sale of the Protexic business.

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Sonoco Reports Third Quarter 2024 Results - Page 4
1Segment and All Other Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. See the Company’s reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures later in this release.
2Net sales for the three months ended October 1, 2023 include $21 million from recycling operations.

Balance Sheet and Cash Flow Highlights

•Cash and cash equivalents were $1,931 million as of September 29, 2024, compared to $152 million as of December 31, 2023, primarily related to the financing for the pending Eviosys acquisition
•Total debt was $4.8 billion as of September 29, 2024, an increase of $1.7 billion compared to December 31, 2023, primarily related to the financing for the pending Eviosys acquisition
•On September 29, 2024, the Company had available liquidity of $3.1 billion, including available borrowing capacity under its revolving credit facility and cash on hand; $1.8 billion of this liquidity is intended to fund a portion of the pending Eviosys acquisition
•Cash flow from operating activities for the first nine months of 2024 was $438 million, compared to $617 million in the same period of 2023
•Capital expenditures, net of proceeds from sales of fixed assets, for the first nine months of 2024 were $267 million, compared to $182 million for the same period last year
•Free Cash Flow for the first nine months of 2024 was $171 million compared to $435 million for the same period of 2023. Free Cash Flow is a non-GAAP financial measure. See the Company’s definition of Free Cash Flow, the explanation as to why it is used, and the reconciliation to net cash provided by operating activities later in this release
•Dividends paid during the nine months ended September 29, 2024 increased to $152 million compared to $147 million for the same period of the prior fiscal year

Announced Acquisition

On June 24, 2024, Sonoco announced it had entered into a definitive agreement to acquire Titan Holdings I B.V. (“Eviosys”), a leading European manufacturer of food cans, ends and closures from an affiliate of KPS Capital Partners, LP (“KPS”) (the “Transaction”) to expand Sonoco’s global leadership in metal food can and aerosol packaging. Sonoco believes that both Sonoco’s metal packaging business and Eviosys have demonstrated meaningful commercial momentum, and the Transaction is expected to facilitate Sonoco’s ability to partner with customers and lead with innovation and sustainability.

The Transaction advances Sonoco’s strategy of disciplined and high return capital allocation. Under the terms of the agreement, Sonoco agreed to acquire all of the issued and outstanding equity interests in Eviosys for approximately €3.6 billion (approximately $3.9 billion) on a cash-free and debt-free basis and subject to customary adjustments. The Transaction is expected to be immediately accretive to Adjusted EPS.

Sonoco secured financing for the Transaction through a $700 million delayed draw term loan facility on July 12, 2024, a $1.5 billion 364-day delayed draw term loan facility on September 16, 2024, and a registered public offering of senior unsecured notes of $1.8 billion on September 19, 2024, and has maintained its investment grade credit rating. With increased debt reduction from divestitures and cash from operations, Sonoco expects to further reduce net leverage from previous estimates within 24 months of the closing of the Transaction.

The Transaction is expected to close by the end of 2024, subject to the satisfaction or waiver of customary closing conditions, including expiration, termination, or receipt of the applicable waiting period or clearances, as applicable under certain specified antitrust laws.

Eviosys’ current CEO, Tomas Lopez, is expected to remain with Sonoco and lead Sonoco’s EMEA metal packaging business and Rodger Fuller, Chief Operating Officer, is expected to lead the integration effort.

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Sonoco Reports Third Quarter 2024 Results - Page 5
Strategic Reviews of TFP and ThermoSafe Businesses as Part of Further Portfolio Simplification Efforts

On September 4, 2024, Sonoco announced a review of strategic alternatives for the TFP business, included in the Consumer segment. Sonoco’s TFP business is a market leader in thermoformed and flexible packaging serving a wide range of customers in food, retail and medical markets. The TFP business provides a variety of complex packaging to value-added categories including snacks, condiments, healthcare, prepared meals, fresh products and coffee and pet. On a standalone basis, the TFP business generated revenue of $1.3 billion in 2023. The strategic review process of the TFP business is underway and Sonoco expects to complete the review processes in the fourth quarter of 2024.

As previously announced, Sonoco also intends to divest the,ThermoSafe business, included in the All Other group of businesses. The ThermoSafe business is Sonoco’s leading temperature-assured packaging business and generated revenue of $283 million in 2023. The strategic review process of the ThermoSafe business is underway and Sonoco expects to complete the review processes in the third quarter of 2025.

Guidance(1)     
Fourth Quarter 2024
•Adjusted EPS(2): $1.15 to $1.35

Full Year 2024
•Adjusted EPS(2): $5.05 to $5.25
•Cash flow from operating activities: $650 million to $750 million
•Adjusted EBITDA: $1,050 to $1,090

Commenting on the Company’s outlook, Sonoco’s President and CEO, Howard Coker, said, “Our earnings and cash results year-to-date keep us on track to deliver within our annual guidance range for 2024. We are excited about the anticipated completion of the pending Eviosys acquisition, which we expect will bring incremental growth to our metal packaging business and continue the transformation and simplification of our portfolio.”
(1)Guidance provided excludes any impact of the pending Eviosys acquisition or potential divestitures. Although the Company believes the assumptions reflected in the range of guidance are reasonable, given the uncertainty regarding the future performance of the overall economy, the effects of inflation, the challenges in global supply chains, potential changes in raw material prices, other costs, and the Company’s effective tax rate, as well as other risks and uncertainties, including those described below, actual results could vary substantially. Further information can be found in the section entitled “Forward-looking Statements” in this release.

(2) Fourth quarter and full year 2024 GAAP guidance are not provided in this release due to the likely occurrence of one or more of the following, the timing and magnitude of which we are unable to reliably forecast without unreasonable efforts: restructuring costs and restructuring-related impairment charges, acquisition/divestiture-related costs, gains or losses from the sale of businesses or other assets, and the income tax effects of these items and/or other income tax-related events. These items could have a significant impact on the Company’s future GAAP financial results. Accordingly, a quantitative reconciliation of Adjusted EPS guidance has been omitted in reliance on the exception provided by Item 10 of Regulation S-K.    

Effective January 1, 2024, the Company integrated its flexible packaging and thermoformed packaging businesses within the Consumer segment in order to streamline operations, enhance customer service, and better position the business for accelerated growth. As a result, the Company changed its operating and reporting structure to reflect the way it now manages its operations, evaluates performance, and allocates resources. Beginning the first quarter of 2024, the Company’s consumer thermoformed businesses moved from the All Other group of businesses to the Consumer segment. The Company’s Industrial segment was not affected by these changes.

Investor Conference Call Webcast
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The Company will host a conference call to discuss the third quarter 2024 results. A live audio webcast of the call along with supporting materials will be available on the Sonoco Investor Relations website at https://investor.sonoco.com/. A webcast replay will be available on the Company’s website for at least 30 days following the call.
Time:
Friday, November 1, 2024 at 8:30 a.m. Eastern Time

Audience
Dial-In:
To listen via telephone, please register in advance at
https://registrations.events/direct/Q4I122823.6267774588438875e+24

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.
Webcast Link:
https://events.q4inc.com/attendee/808697672

Contact Information:
Lisa Weeks
Vice President of Investor Relations & Global Communications
lisa.weeks@sonoco.com    
843-383-7524
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Sonoco Reports Third Quarter 2024 Results - Page 7
About Sonoco
With net sales of approximately $6.8 billion in 2023, Sonoco has approximately 21,000 employees working in more than 300 operations around the world, serving some of the world’s best-known brands. With our corporate purpose of Better Packaging. Better Life., Sonoco is committed to creating sustainable products and a better world for our customers, employees and communities. Sonoco was named one of America’s Most Responsible Companies by Newsweek. For more information on the Company, visit our website at www.sonoco.com.
Forward-looking Statements
Statements included herein that are not historical in nature, are intended to be, and are hereby identified as “forward-looking statements” for purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended. In addition, the Company and its representatives may from time to time make other oral or written statements that are also “forward-looking statements.” Words such as “anticipate,” “assume,” “believe,” “can,”
“consider,” “committed,” “continue,” “could,” “develop,” “estimate,” “expect,” “forecast,” “focused,” “future,” “goal,” “guidance,” “intend,” “is designed to,” “likely,” “maintain,” “may,” “might,” “objective,” “ongoing,” “opportunity,” “outlook,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “strategy,” “will,” “would,” or the negative thereof, and similar expressions identify forward-looking statements.

Forward-looking statements in this communication include statements regarding, but not limited to: the Company’s future operating and financial performance, including fourth quarter and full year 2024 outlook and the anticipated drivers thereof; the Company’s ability to support its customers and manage costs; opportunities for productivity and other operational improvements; price/cost, customer demand and volume outlook; anticipated benefits of the proposed Transaction, including the satisfaction or waiver of customary closing conditions and the anticipated timing and benefits of the Transaction, including with respect to market leadership, strategic alignment, customer relationships, sustainability, innovation and cost synergies; expected benefits from divestitures, including the sale of Protexic, the potential divestitures of the ThermoSafe and TFP businesses and other potential divestitures, and the timing thereof; the effectiveness of the Company’s strategy and strategic initiatives, including with respect to capital expenditures, portfolio simplification, leverage reduction and capital allocation priorities; the effects of the macroeconomic environment and inflation on the Company and its customers; and the Company’s ability to generate continued value and return capital to shareholders.

Such forward-looking statements are based on current expectations, estimates and projections about our industry, management’s beliefs and certain assumptions made by management. Such information includes, without limitation, discussions as to guidance and other estimates, perceived opportunities, expectations, beliefs, plans, strategies, goals and objectives concerning our future financial and operating performance. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict.

Therefore, actual results may differ materially from those expressed or forecasted in such forward-looking statements.

Such risks, uncertainties and assumptions include, without limitation, those related to: the Company’s ability to execute on its strategy, including with respect to the proposed Transaction and other acquisitions (and integrations thereof), divestitures, cost management, productivity improvements, restructuring and capital expenditures, and achieve the benefits it expects therefrom; the ability to receive regulatory approvals for the proposed Transaction in a timely manner, on acceptable terms or at all, or to satisfy the other closing conditions to the proposed Transaction; conditions in the credit markets; the ability to retain key employees and successfully integrate Eviosys; the ability to realize estimated cost savings, synergies or other anticipated benefits of the proposed Transaction, or that such benefits may take longer to realize than expected; diversion of management’s attention; the potential impact of the consummation of the proposed Transaction on relationships with clients and other third parties; the operation of new manufacturing capabilities; the Company’s ability to achieve anticipated cost and energy savings; the availability, transportation and pricing of raw materials, energy and transportation, including the impact of potential changes in tariffs or sanctions and escalating trade wars, and the impact of war, general regional instability and other geopolitical tensions (such as the ongoing conflict between Russia and Ukraine as well as the economic sanctions related thereto, and the ongoing conflict in Israel and Gaza), and the Company’s ability to pass raw material, energy and transportation price increases and surcharges through to customers or otherwise manage these commodity pricing risks; the costs of labor; the effects of inflation, fluctuations in consumer demand, volume softness, and other macroeconomic factors on the Company and the industries in which it operates and that it serves; the Company’s
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Sonoco Reports Third Quarter 2024 Results - Page 8
ability to meet its environmental and sustainability goals, including with respect to greenhouse gas emissions; and to meet other social and governance goals, including challenges in implementation thereof; and the other risks, uncertainties and assumptions discussed in the Company’s filings with the Securities and Exchange Commission, including its most recent reports on Forms 10-K and 10-Q, particularly under the heading “Risk Factors.” The Company undertakes no obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events discussed herein might not occur.

References to our Website Address

References to our website address and domain names throughout this release are for informational purposes only, or to fulfill specific disclosure requirements of the Securities and Exchange Commission’s rules or the New York Stock Exchange Listing Standards. These references are not intended to, and do not, incorporate the contents of our website by reference into this release.
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Sonoco Reports Third Quarter 2024 Results - Page 9
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
(Dollars and shares in thousands except per share data)
Three Months EndedNine Months Ended
September 29, 2024October 1, 2023September 29, 2024October 1, 2023
Net sales$1,675,866 $1,710,419 $4,936,888 $5,145,492 
Cost of sales1,317,129 1,346,163 3,883,244 4,049,490 
Gross profit358,737 364,256 1,053,644 1,096,002 
Selling, general, and administrative expenses190,645 182,672 586,337 541,421 
Restructuring/Asset impairment charges8,190 18,110 59,058 52,981 
(Loss)/Gain on divestiture of business and other assets(31,770)(537)(27,292)78,844 
Operating profit128,132 162,937 380,957 580,444 
Non-operating pension costs2,947 3,424 10,412 10,424 
Net interest expense55,629 29,674 109,376 94,684 
Other income, net— 36,943 5,867 36,943 
Income before income taxes69,556 166,782 267,036 512,279 
Provision for income taxes21,154 39,351 65,821 127,003 
Income before equity in earnings of affiliates48,402 127,431 201,215 385,276 
Equity in earnings of affiliates, net of tax2,807 3,627 6,218 8,795 
Net income51,209 131,058 207,433 394,071 
Net income attributable to noncontrolling interests(288)(309)(524)(354)
Net income attributable to Sonoco$50,921 $130,749 $206,909 $393,717 
Weighted average common shares outstanding – diluted99,267 98,912 99,221 98,800 
Diluted earnings per common share$0.51 $1.32 $2.09 $3.98 
Dividends per common share$0.52 $0.51 $1.55 $1.51 



















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Sonoco Reports Third Quarter 2024 Results - Page 10
FINANCIAL SEGMENT INFORMATION (Unaudited)
(Dollars in thousands)
Three Months EndedNine Months Ended
September 29, 2024October 1, 2023September 29, 2024October 1, 2023
Net sales:
Consumer Packaging$983,511 $984,840 $2,821,817 $2,914,168 
Industrial Paper Packaging585,082 580,035 1,778,912 1,781,033 
Total reportable segments1,568,593 1,564,875 4,600,729 4,695,201 
All Other107,273 145,544 336,159 450,291 
Net sales$1,675,866 $1,710,419 $4,936,888 $5,145,492 
Operating profit:
Consumer Packaging$123,021 $116,800 $328,190 $314,408 
Industrial Paper Packaging70,206 75,006 203,008 256,413 
Segment operating profit193,227 191,806 531,198 570,821 
All Other17,440 20,740 48,430 66,085 
Corporate
   Restructuring/Asset impairment charges(8,190)(18,110)(59,058)(52,981)
   Amortization of acquisition intangibles(22,645)(21,379)(68,095)(63,082)
(Loss)/Gain on divestiture of business and other assets
(31,770)(537)(27,292)78,844 
Acquisition, integration, and divestiture-related costs(19,623)(12,472)(47,553)(22,192)
   Other operating (charges)/income, net(307)2,889 3,327 2,949 
     Operating profit$128,132 $162,937 $380,957 $580,444 

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Sonoco Reports Third Quarter 2024 Results - Page 11
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited)
(Dollars in thousands)
Nine Months Ended
September 29, 2024October 1, 2023
Net income$207,433 $394,071 
Net losses/(gains) on asset impairments, disposition of assets and divestiture of business and other assets
43,946 (87,770)
Depreciation, depletion and amortization270,691 249,387 
Pension and postretirement plan (contributions), net of non-cash expense(1,612)2,368 
Changes in working capital(115,825)67,335 
Changes in tax accounts6,165 (4,902)
Other operating activity26,840 (3,612)
Net cash provided by operating activities437,638 616,877 
Purchases of property, plant and equipment, net(266,817)(182,137)
Proceeds from the sale of business, net81,212 31,147 
Cost of acquisitions, net of cash acquired(3,743)(313,362)
Net debt proceeds1,695,093 27,088 
Cash dividends(152,397)(147,477)
Payments for share repurchases(9,172)(10,605)
Other, including effects of exchange rates on cash(3,118)8,971 
Net increase in cash and cash equivalents1,778,696 30,502 
Cash and cash equivalents at beginning of period151,937 227,438 
Cash and cash equivalents at end of period$1,930,633 $257,940 



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Sonoco Reports Third Quarter 2024 Results - Page 12
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)
(Dollars in thousands)
September 29, 2024December 31, 2023
Assets
Current Assets:
Cash and cash equivalents$1,930,633 $151,937 
Trade accounts receivable, net of allowances1,042,520 904,898 
Other receivables110,042 106,644 
Inventories755,252 773,501 
Prepaid expenses130,584 113,385 
Total Current Assets3,969,031 2,050,365 
Property, plant and equipment, net1,930,025 1,906,137 
Right of use asset-operating leases314,611 314,944 
Goodwill1,780,967 1,810,654 
Other intangible assets, net785,616 853,670 
Other assets262,611 256,187 
Total Assets$9,042,861 $7,191,957 
Liabilities and Shareholders’ Equity
Current Liabilities:
Payable to suppliers and other payables$1,186,489 $1,107,504 
Notes payable and current portion of long-term debt481,706 47,132 
Accrued taxes10,084 10,641 
Total Current Liabilities1,678,279 1,165,277 
Long-term debt, net of current portion4,320,442 3,035,868 
Noncurrent operating lease liabilities269,251 265,454 
Pension and other postretirement benefits137,302 142,900 
Deferred income taxes and other150,427 150,623 
Total equity2,487,160 2,431,835 
$9,042,861 $7,191,957 

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Sonoco Reports Third Quarter 2024 Results - Page 13
NON-GAAP FINANCIAL MEASURES

The Company’s results determined in accordance with U.S. generally accepted accounting principles (“GAAP”) are referred to as “as reported” or “GAAP” results. The Company uses certain financial performance measures, both internally and externally, that are not in conformity with GAAP (“non-GAAP financial measures”) to assess and communicate the financial performance of the Company. These non-GAAP financial measures, which are identified using the term “Adjusted” (for example, “Adjusted Operating Profit”), reflect adjustments to the Company’s GAAP operating results to exclude amounts, including the associated tax effects, relating to:
•restructuring/asset impairment charges1;
•acquisition, integration and divestiture-related costs;
•gains or losses from the divestiture of businesses and other assets;
•losses from the early extinguishment of debt;
•non-operating pension costs;
•amortization expense on acquisition intangibles;
•changes in last-in, first-out (“LIFO”) inventory reserves;
•certain income tax events and adjustments;
•derivative gains/losses;
•other non-operating income and losses; and
•certain other items, if any.

1Restructuring and restructuring-related asset impairment charges are a recurring item as the Company’s restructuring programs usually require several years to fully implement, and the Company is continually seeking to take actions that could enhance its efficiency. Although recurring, these charges are subject to significant fluctuations from period to period due to the varying levels of restructuring activity, the inherent imprecision in the estimates used to recognize the impairment of assets, and the wide variety of costs and taxes associated with severance and termination benefits in the countries in which the restructuring actions occur.

The Company’s management believes the exclusion of the amounts related to the above-listed items improves the period-to-period comparability and analysis of the underlying financial performance of the business.

In addition to the “Adjusted” results described above, the Company also uses Adjusted EBITDA and Adjusted EBITDA Margin. Adjusted EBITDA is defined as net income excluding the following: interest expense; interest income; provision for income taxes; depreciation, depletion and amortization expense; non-operating pension costs; net income/loss attributable to noncontrolling interests; restructuring/asset impairment charges; changes in LIFO inventory reserves; gains/losses from the divestiture of businesses and other assets; acquisition, integration and divestiture-related costs; other income; derivative gains/losses; and other non-GAAP adjustments, if any, that may arise from time to time. Adjusted EBITDA Margin is defined as Adjusted EBITDA divided by net sales.

The Company’s non-GAAP financial measures are not calculated in accordance with, nor are they an alternative for, measures conforming to GAAP, and they may be different from non-GAAP financial measures used by other companies. In addition, these non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles.

The Company presents these non-GAAP financial measures to provide investors with information to evaluate Sonoco’s operating results in a manner similar to how management evaluates business performance. The Company consistently applies its non-GAAP financial measures presented herein and uses them for internal planning and forecasting purposes, to evaluate its ongoing operations, and to evaluate the ultimate performance of management and each business unit against plans/forecasts. In addition, these same non-GAAP financial measures are used in determining incentive compensation for the entire management team and in providing earnings guidance to the investing community.

Material limitations associated with the use of such measures include that they do not reflect all period costs included in operating expenses and may not be comparable with similarly named financial measures of other companies. Furthermore, the calculations of these non-GAAP financial measures are based on subjective determinations of management regarding the nature and classification of events and circumstances that the investor may find material and view differently.
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Sonoco Reports Third Quarter 2024 Results - Page 14

To compensate for any limitations in such non-GAAP financial measures, management believes that it is useful in evaluating the Company’s results to review both GAAP information, which includes all of the items impacting financial results, and the related non-GAAP financial measures that exclude certain elements, as described above. Further, Sonoco management does not, nor does it suggest that investors should, consider any non-GAAP financial measures in isolation from, or as a substitute for, financial information prepared in accordance with GAAP.

Whenever reviewing a non-GAAP financial measure, investors are encouraged to review and consider the related reconciliation to understand how it differs from the most directly comparable GAAP measure.

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Sonoco Reports Third Quarter 2024 Results - Page 15
QUARTERLY RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES

The following tables reconcile the Company’s non-GAAP financial measures to their most directly comparable GAAP financial measures for the three-month periods ended September 29, 2024 and October 1, 2023.

Adjusted Operating Profit, Adjusted Income Before Income Taxes, Adjusted Provision for Income Taxes, Adjusted Net Income Attributable to Sonoco, and Adjusted Diluted Earnings Per Share (“EPS”)

For the three-month period ended September 29, 2024
Dollars in thousands, except per share dataOperating ProfitIncome Before Income TaxesProvision for Income TaxesNet Income Attributable to SonocoDiluted EPS
As Reported (GAAP)$128,132 $69,556 $21,154 $50,921 $0.51 
    Acquisition, integration and divestiture-related costs1
19,623 49,804 6,512 43,292 $0.44 
   Changes in LIFO inventory reserves790 790 199 591 0.01 
   Amortization of acquisition intangibles22,645 22,645 5,563 17,082 0.17 
   Restructuring/Asset impairment charges8,190 8,190 1,497 6,560 0.07 
   Loss on divestiture of business and other assets31,770 31,770 454 31,316 0.31 
   Non-operating pension costs— 2,947 738 2,209 0.02 
   Net gains from derivatives(210)(210)(53)(157)— 
   Other adjustments(273)(695)3,233 (3,928)(0.04)
Total adjustments82,535 115,241 18,143 96,965 0.98 
Adjusted$210,667 $184,797 $39,297 $147,886 $1.49 
Due to rounding, individual items may not sum appropriately.
1 Acquisition, integration and divestiture related costs include losses on treasury lock derivative instruments and amortization of financing fees totaling $30,181 related to debt instruments associated with the financing of the pending Eviosys acquisition. These amortization costs are included in “Interest expense” in the Company’s Condensed Consolidated Statements of Income.

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Sonoco Reports Third Quarter 2024 Results - Page 16
For the three-month period ended October 1, 2023
Dollars in thousands, except per share dataOperating ProfitIncome Before Income TaxesProvision for Income TaxesNet Income Attributable to SonocoDiluted EPS
As Reported (GAAP)$162,937 $166,782 $39,351 $130,749 $1.32 
    Acquisition, integration and divestiture-related costs12,472 12,472 1,979 10,493 0.10 
   Changes in LIFO inventory reserves(3,186)(3,186)(816)(2,370)(0.02)
   Amortization of acquisition intangibles21,379 21,379 5,197 16,182 0.16 
   Restructuring/Asset impairment charges18,110 18,110 4,385 13,974 0.14 
Loss on divestiture of business and other assets537 537 125 412 — 
Other income, net— (36,943)(8,929)(28,014)(0.28)
   Non-operating pension costs— 3,424 852 2,572 0.03 
   Net gains from derivatives(3,310)(3,310)(830)(2,480)(0.03)
   Other adjustments3,607 3,607 252 3,355 0.04 
Total adjustments49,609 16,090 2,215 14,124 0.14 
Adjusted$212,546 $182,872 $41,566 $144,873 $1.46 
Due to rounding, individual items may not sum appropriately.

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Sonoco Reports Third Quarter 2024 Results - Page 17
Adjusted EBITDA and Adjusted EBITDA Margin
Three Months Ended
Dollars in thousandsSeptember 29, 2024October 1, 2023
Net income attributable to Sonoco$50,921 $130,749 
Adjustments:
     Interest expense61,643 32,847 
     Interest income(6,014)(3,173)
     Provision for income taxes21,154 39,351 
     Depreciation, depletion and amortization
90,646 85,570 
     Non-operating pension costs2,947 3,424 
 Net income attributable to noncontrolling interests288 309 
     Restructuring/Asset impairment charges8,190 18,110 
     Changes in LIFO inventory reserves790 (3,186)
     Loss on divestiture of business and other assets31,770 537 
     Acquisition, integration and divestiture-related costs19,623 12,472 
Other income, net— (36,943)
     Net gains from derivatives(210)(3,310)
     Other adjustments(273)3,607 
Adjusted EBITDA$281,475 $280,364 
Net Sales$1,675,866 $1,710,419 
Net Income Margin3.0 %7.6 %
Adjusted EBITDA Margin16.8 %16.4 %
The Company does not calculate net income by segment; therefore, Adjusted EBITDA by segment is reconciled to the closest GAAP measure of segment profitability, segment operating profit. Segment operating profit is the measure of segment profit or loss reported to the chief operating decision maker for purposes of making decisions about allocating resources to the segments and assessing their performance in accordance with Accounting Standards Codification 280 - Segment Reporting, as prescribed by the Financial Accounting Standards Board.
Segment results viewed by the Company’s management to evaluate segment performance do not include the following: restructuring/asset impairment charges; amortization of acquisition intangibles; acquisition, integration and divestiture-related costs; changes in LIFO inventory reserves; gains/losses from the sale of businesses or other assets; gains/losses from derivatives; or certain other items, if any, the exclusion of which the Company believes improves the comparability and analysis of the ongoing operating performance of the business. Accordingly, the term “segment operating profit” is defined as the segment’s portion of “operating profit” excluding those items. All other general corporate expenses have been allocated as operating costs to each of the Company’s reportable segments and the All Other group of businesses.


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Sonoco Reports Third Quarter 2024 Results - Page 18
Segment Adjusted EBITDA and All Other Adjusted EBITDA Reconciliation
For the Three Months Ended September 29, 2024
Dollars in thousandsConsumer Packaging segmentIndustrial Paper Packaging segmentAll OtherCorporateTotal
Segment and Total Operating Profit $123,021 $70,206 $17,440 $(82,535)$128,132 
Adjustments:
  Depreciation, depletion and amortization1
36,283 28,989 2,729 22,645 90,646 
  Equity in earnings of affiliates, net of tax369 2,438 — — 2,807 
  Restructuring/Asset impairment charges2
— — — 8,190 8,190 
  Changes in LIFO inventory reserves3
— — — 790 790 
  Acquisition, integration and divestiture-related costs4
— — — 19,623 19,623 
  Loss on divestiture of business and other assets5
— — — 31,770 31,770 
  Net gains from derivatives6
— — — (210)(210)
  Other adjustments— — — (273)(273)
Segment Adjusted EBITDA $159,673 $101,633 $20,169 $— $281,475 
Net Sales$983,511 $585,082 $107,273 
Segment Operating Profit Margin12.5 %12.0 %16.3 %
Segment Adjusted EBITDA Margin16.2 %17.4 %18.8 %

1Included in Corporate is the amortization of acquisition intangibles associated with the Consumer segment of $16,131, the Industrial segment of $6,306, and the All Other group of businesses of $208.
2 Included in Corporate are restructuring/asset impairment charges associated with the Consumer segment of $4,509 and the Industrial segment of $3,798.
3Included in Corporate are changes in LIFO inventory reserves associated with the Consumer segment of $758 and the Industrial segment of $32.
4Included in Corporate are acquisition, integration and divestiture-related costs associated with the Consumer segment of $465 and the Industrial segment of $(4,529).
5Included in Corporate are losses on the divestiture of businesses associated with the Industrial segment of $29,965 related to the pending sale of two production facilities in China, and the All Other group of businesses of $1,805 related to the sale of Protexic.
6Included in Corporate are net gains from derivatives associated with the Consumer segment of $(41), the Industrial segment of $(160), and the All Other group of businesses of $(9).


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Sonoco Reports Third Quarter 2024 Results - Page 19
Segment Adjusted EBITDA and All Other Adjusted EBITDA Reconciliation
For the Three Months Ended October 1, 2023
Dollars in thousandsConsumer Packaging segmentIndustrial Paper Packaging segmentAll OtherCorporateTotal
Segment and Total Operating Profit $116,800 $75,006 $20,740 $(49,609)$162,937 
Adjustments:
   Depreciation, depletion and amortization1
33,833 26,558 3,800 21,379 85,570 
   Equity in earnings of affiliates, net of tax284 3,343 — — 3,627 
   Restructuring/Asset impairment charges2
— — — 18,110 18,110 
   Changes in LIFO inventory reserves3
— — — (3,186)(3,186)
   Acquisition, integration and divestiture-related costs4
— — — 12,472 12,472 
Loss on divestiture of business and other assets5
— — — 537 537 
   Net gains from derivatives6
— — — (3,310)(3,310)
   Other adjustments— — — 3,607 3,607 
Segment Adjusted EBITDA$150,917 $104,907 $24,540 $— $280,364 
Net Sales$984,840 $580,035 $145,544 
Segment Operating Profit Margin11.9 %12.9 %14.2 %
Segment Adjusted EBITDA Margin15.3 %18.1 %16.9 %

1Included in Corporate is the amortization of acquisition intangibles associated with the Consumer segment of $15,980, the Industrial segment of $3,414, and the All Other group of businesses of $1,985.
2Included in Corporate are restructuring/asset impairment charges associated with the Consumer segment of $9,784, the Industrial segment of $6,430, and the All Other group of businesses of $270.
3Included in Corporate are changes in LIFO inventory reserves associated with the Consumer segment of $(3,325) and the Industrial segment of $139.
4Included in Corporate are acquisition, integration and divestiture-related costs associated with the Consumer segment of $410 and the Industrial segment of $5,046.
5Included in Corporate is a loss from the sale of the Company’s U.S. BulkSak business, associated with the Industrial segment, in the amount of $537.
6Included in Corporate are net gains from derivatives associated with the Consumer segment of $(507), the Industrial segment of $(2,178), and the All Other group of businesses of $(625).













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Sonoco Reports Third Quarter 2024 Results - Page 20
YEAR-TO-DATE RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES

The following tables reconcile the Company’s non-GAAP financial measures to their most directly comparable GAAP financial measures for the nine-month period ended September 29, 2024 and the nine-month period ended October 1, 2023.

Adjusted Operating Profit, Adjusted Income Before Income Taxes, Adjusted Provision for Income Taxes, Adjusted Net Income Attributable to Sonoco, and Adjusted Diluted Earnings Per Share (“EPS”)

For the nine-month period ended September 29, 2024
Dollars in thousands, except per share dataOperating ProfitIncome Before Income TaxesProvision for Income TaxesNet Income Attributable to SonocoDiluted EPS
As Reported (GAAP)$380,957 $267,036 $65,821 $206,909 $2.09 
  Acquisition, integration and divestiture-related costs 47,553 77,734 13,670 64,064 0.64 
  Changes in LIFO inventory reserves(197)(197)(49)(148)— 
  Amortization of acquisition intangibles68,095 68,095 16,672 51,423 0.52 
  Restructuring/Asset impairment charges59,058 59,058 11,754 47,260 0.48 
  Loss on divestiture of business and other assets27,292 27,292 1,676 25,616 0.26 
Other income, net— (5,867)— (5,867)(0.06)
  Non-operating pension costs— 10,412 2,593 7,819 0.08 
  Net gains from derivatives(3,981)(3,981)(1,001)(2,980)(0.03)
  Other adjustments851 851 8,812 (7,961)(0.09)
Total adjustments198,671 233,397 54,127 179,226 1.80 
Adjusted$579,628 $500,433 $119,948 $386,135 3.89 
Due to rounding, individual items may not sum appropriately.
1 Acquisition, integration and divestiture related costs include losses on treasury lock derivative instruments and amortization of financing fees totaling $30,181 related to debt instruments associated with the financing of the pending Eviosys acquisition. These amortization costs are included in “Interest expense” line in the Company’s Condensed Consolidated Statements of Income.


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Sonoco Reports Third Quarter 2024 Results - Page 21
For the nine-month period ended October 1, 2023
Dollars in thousands, except per share dataOperating ProfitIncome Before Income TaxesProvision for Income TaxesNet Income Attributable to SonocoDiluted EPS
As Reported (GAAP)$580,444 $512,279 $127,003 $393,717 $3.98 
Acquisition, integration and divestiture-related costs22,192 22,192 4,249 17,943 0.18 
Changes in LIFO inventory reserves(10,186)(10,186)(2,564)(7,622)(0.08)
Amortization of acquisition intangibles63,082 63,082 15,312 47,770 0.48 
Restructuring/Asset impairment charges52,981 52,981 12,344 40,658 0.41 
Gain on divestiture of business and other assets(78,844)(78,844)(18,823)(60,021)(0.61)
Other income, net— (36,943)(8,929)(28,014)(0.28)
Non-operating pension costs— 10,424 2,589 7,835 0.08 
Net gains from derivatives(1,513)(1,513)(381)(1,132)(0.01)
Other adjustments8,750 8,750 1,423 7,327 0.09 
Total adjustments56,462 29,943 5,220 24,744 0.26 
Adjusted$636,906 $542,222 $132,223 $418,461 $4.24 
Due to rounding, individual items may not sum appropriately.

Adjusted EBITDA and Adjusted EBITDA Margin
Nine Months Ended
Dollars in thousandsSeptember 29, 2024October 1, 2023
Net income attributable to Sonoco$206,909 $393,717 
Adjustments:
     Interest expense122,503 101,363 
     Interest income(13,127)(6,679)
     Provision for income taxes65,821 127,003 
     Depreciation, depletion and amortization
270,691 249,387 
     Non-operating pension costs10,412 10,424 
 Net income attributable to noncontrolling interests524 354 
     Restructuring/Asset impairment charges59,058 52,981 
     Changes in LIFO inventory reserves(197)(10,186)
     Loss/(Gain) on divestiture of business and other assets27,292 (78,844)
     Acquisition, integration and divestiture-related costs47,553 22,192 
Other income, net(5,867)(36,943)
     Net gains from derivatives
(3,981)(1,514)
     Other adjustments851 8,750 
Adjusted EBITDA$788,442 $832,005 
Net Sales$4,936,888 $5,145,492 
Net Income Margin4.2 %7.7 %
Adjusted EBITDA Margin16.0 %16.2 %
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Sonoco Reports Third Quarter 2024 Results - Page 22
The following tables reconcile segment operating profit, the closest GAAP measure of profitability, to Segment Adjusted EBITDA.

Segment Adjusted EBITDA and All Other Adjusted EBITDA Reconciliation
For the Nine Months Ended September 29, 2024
Dollars in thousandsConsumer Packaging segmentIndustrial Paper Packaging segmentAll OtherCorporateTotal
Segment and Total Operating Profit $328,190 $203,008 $48,430 $(198,671)$380,957 
Adjustments:
  Depreciation, depletion and amortization1
107,365 86,133 9,098 68,095 270,691 
  Equity in earnings of affiliates, net of tax416 5,802 — — 6,218 
  Restructuring/Asset impairment charges2
— — — 59,058 59,058 
  Changes in LIFO inventory reserves3
— — — (197)(197)
  Acquisition, integration and divestiture-related costs4
— — — 47,553 47,553 
  Loss on divestiture of business and other assets5
— — — 27,292 27,292 
  Net gains from derivatives6
— — — (3,981)(3,981)
  Other adjustments— — — 851 851 
Segment Adjusted EBITDA $435,971 $294,943 $57,528 $— $788,442 
Net Sales$2,821,817$1,778,912$336,159
Segment Operating Profit Margin11.6 %11.4 %14.4 %
Segment Adjusted EBITDA Margin15.5 %16.6 %17.1 %

1 Included in Corporate is the amortization of acquisition intangibles associated with the Consumer segment of $48,307, the Industrial segment of $19,168, and the All Other group of businesses of $620.
2 Included in Corporate are restructuring/asset impairment charges associated with the Consumer segment of $20,597, the Industrial segment of $34,138, and the All Other group of businesses of $1,362.
3 Included in Corporate are changes in LIFO inventory reserves associated with the Consumer segment of $388 and the Industrial segment of $(585).
4 Included in Corporate are acquisition, integration and divestiture-related costs associated with the Consumer segment of $518 and the Industrial segment of $(3,658).
5 Included in Corporate are net losses on the divestiture of business associated with the Industrial segment of $28,715, including a loss of $29,965 from the pending sale of two production facilities in China, partially offset by a gain of $(1,250) from the sale of the S3 business, and a gain associated with the All Other group of businesses of $(1,423) related to the sale of Protexic.
6 Included in Corporate are net gains from derivatives associated with the Consumer segment of $(624), the Industrial segment of $(2,628), and the All Other group of businesses of $(729).


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Sonoco Reports Third Quarter 2024 Results - Page 23
Segment Adjusted EBITDA and All Other Adjusted EBITDA Reconciliation
For the Nine Months Ended October 1, 2023
Dollars in thousandsConsumer Packaging segmentIndustrial Paper Packaging segmentAll OtherCorporateTotal
Segment and Total Operating Profit $314,408 $256,413 $66,084 $(56,461)$580,444 
Adjustments:
   Depreciation, depletion and amortization1
98,847 76,444 11,014 63,082 249,387 
   Equity in earnings of affiliates, net of tax493 8,302 — — 8,795 
   Restructuring/Asset impairment charges2
— — — 52,981 52,981 
   Changes in LIFO inventory reserves3
— — — (10,186)(10,186)
   Acquisition, integration and divestiture-related costs4
— — — 22,192 22,192 
  Gain on divestiture of business and other assets5
(78,844)(78,844)
   Net gains from derivatives6
— — — (1,514)(1,514)
   Other adjustments— — — 8,750 8,750 
Segment Adjusted EBITDA$413,748 $341,159 $77,098 $— $832,005 
Net Sales$2,914,168 $1,781,033 $450,291 
Segment Operating Profit Margin10.8 %14.4 %14.7 %
Segment Adjusted EBITDA Margin14.2 %19.2 %17.1 %

1 Included in Corporate is the amortization of acquisition intangibles associated with the Consumer segment of $48,193, the Industrial segment of $8,913, and the All Other group of businesses of $5,976.
2 Included in Corporate are restructuring/asset impairment charges associated with the Consumer segment of $16,480, the Industrial segment of $32,961, and the All Other group of businesses of $1,188.
3    Included in Corporate are changes in LIFO inventory reserves associated with the Consumer segment of $(9,428) and the Industrial segment of $(758).
4 Included in Corporate are acquisition, integration and divestiture-related costs associated with the Consumer segment of $1,302 and the Industrial segment of $5,394.
5    Included in Corporate are gains from the sale of the Company’s timberland properties of $(60,945), the sale of its S3 business of $(11,065), and the sale of its U.S. BulkSak business of $(6,834), all of which are associated with the Industrial segment.
6    Included in Corporate are net gains from derivatives associated with the Consumer segment of $(210), the Industrial segment of $(1,045), and the All Other group of businesses of $(259).


Free Cash Flow
The Company uses the non-GAAP financial measure of “Free Cash Flow,” which it defines as cash flow from operations minus net capital expenditures. Net capital expenditures are defined as capital expenditures minus proceeds from the disposition of capital assets. Free Cash Flow may not represent the amount of cash flow available for general discretionary use because it excludes non-discretionary expenditures, such as mandatory debt repayments and required settlements of recorded and/or contingent liabilities not reflected in cash flow from operations.
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Sonoco Reports Third Quarter 2024 Results - Page 24
Nine Months Ended
FREE CASH FLOWSeptember 29, 2024October 1, 2023
Net cash provided by operating activities$437,638 $616,877 
Purchase of property, plant and equipment, net(266,817)(182,137)
Free Cash Flow$170,821 $434,740 





v3.24.3
Cover Page
Oct. 31, 2024
Cover [Abstract]  
Document Type 8-K
Document Period End Date Oct. 31, 2024
Entity Registrant Name SONOCO PRODUCTS COMPANY
Entity File Number 001-11261
Entity Incorporation, State or Country Code SC
Entity Tax Identification Number 57-0248420
Entity Address, Address Line One 1 N. Second St.
Entity Address, City or Town Hartsville
Entity Address, State or Province SC
Entity Address, Postal Zip Code 29550
City Area Code 843
Local Phone Number 383-7000
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security No par value common stock
Trading Symbol SON
Security Exchange Name NYSE
Entity Emerging Growth Company false
Amendment Flag false
Entity Central Index Key 0000091767
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