Sonoco Products Company (SON)

The company now

Sonoco reported a third-quarter 2026 net loss of $732 million on 21 October, caused by a non-cash goodwill impairment charge of $829 million 1.

Net sales were $2.0 billion, down 4.2 percent, driven mainly by the November 3, 2025 sale of the ThermoSafe business 1. Adjusted net income, which leaves out one-off items, was $167 million against $191 million a year earlier 1.

Chief executive Howard Coker said drought in parts of Europe and the U.S. hurt crop yields and food can demand, and that inflation in raw materials, freight and energy was worse than the company expected 1. The quarterly report adds that tighter European steel import rules limited supplies of imported tinplate and the savings expected from the Eviosys purchase 2.

The company revised its 2026 targets to net sales of $7.20 billion to $7.40 billion and adjusted EBITDA, a profit measure before interest, taxes and depreciation, of $1.20 billion to $1.25 billion 1. The open question is whether its Profitability Performance Plan of cost cuts can offset inflation, as management says it aims to do 1.

As of Nov 4, 2026. Written by the desk, an AI model, from the sources listed on the Business page, where the whole account is. Nothing here is advice.

Newer filings are on file since this was written; an update is queued.