Casualties of war, Sonoco shares slump
Landon Capital News
“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,” said CEO Howard Coker.
Coker said drought in parts of Europe and the U.S. hurt crop yields and food can demand, while inflation in raw materials, freight and energy exceeded expectations. Consumer Packaging sales fell 2.9% to $1.40 billion, with volume and mix down 3%. Industrial Paper Packaging was stronger, with sales up 5.2% to $646 million as price increases took hold, although profit fell.
Sonoco now expects 2026 net sales of $7.20 billion to $7.40 billion, down from the previous guidance of $7.25 billion to $7.75 billion.
Sonoco left its profit guidance unchanged, with adjusted earnings per share of $5.30 to $5.50, adjusted EBITDA of $1.20 billion to $1.25 billion and operating cash flow of $600 million to $650 million.
About Landon Capital
Landon Capital Inc. is a media company that wholly owns subsidiaries Landon Capital Management LLC and Landon Capital News. Landon Capital News distributes economic, and political news in over 176 countries. Landon Capital News provides an in depth and simplistic look at financial, economic, and political news, as it is happening. We also provide our viewers with in-depth analysis on various companies and political news that directly correlate to economics. We bridge the gap of information between the investor and the markets, sectors and industries that they invest. For more information, please contact us at info@landoncapital.net or 404-995-6671 or visit https://landoncapital.net.
Safe Harbor Statement
This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. Landon Capital received no direct compensation related to this release. This release contains certain forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Actual results may differ materially from those stated or implied in.
