Sonoco Reports Q4 Loss, Expects 20% Profit Growth in 2025

Sonoco Products Company reported its fourth quarter and full-year financial results for 2024, revealing a net loss of $43 million but an adjusted net income of $100 million. The company emphasized a successful year marked by the acquisition of Eviosys, enhancing its sustainable metal packaging leadership, and the planned divestiture of its Thermoformed and Flexibles Packaging business for approximately $1.8 billion. Sonoco generated strong operating cash flow of $834 million and maintained solid productivity improvements despite facing price/cost pressures. Additionally, the Board declared a quarterly dividend of $0.52 per share, marking 99 years of continuous payments and 41 years of annual increases. This dividend provides an approximate yield of 4.4%, significantly higher than the S&P 500 average. Overall, Sonoco's strategic moves aim to focus on sustainable packaging and enhance its market position going forward.