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Sonoco’s Third-Quarter Adjusted Net Income Falls 12.5% as Costs Rise

Sonoco reported third-quarter adjusted net income of US$167 million, down 12.5% from US$191 million a year earlier. Adjusted diluted earnings per share were US$1.67. Net sales declined 4.2% to US$2.04 billion. The company attributed the earnings decline to higher raw-material, freight and energy costs and lower volumes, which more than offset productivity savings; drought also hurt food-can demand.…

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Paper packaging news · Illustrative industry photograph; not a photograph of this news event.
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