Sonoco , a global leader in high-value sustainable packaging, has reported financial results for its fourth quarter and fiscal year ended 31 December 2024.
 
In Q4, Sonoco expanded its global leadership in sustainable metal packaging following the completion of the acquisition of Eviosys, Europe’s leading food cans, ends and closures manufacturer, on 4 December 2024.

It also entered into an agreement to sell TFP to TOPPAN Holdings, Inc. for approximately $1.8 billion.

The company reported fourth quarter GAAP net loss attributable to Sonoco of $(43) million, adjusted net income attributable to Sonoco of $100 million, diluted earnings per share of $(0.44) and adjusted diluted earnings per share of $1.00

Excluding the impact of the Eviosys acquisition, adjusted diluted earnings per share for the fourth quarter would have been $1.17, which is comparable to the Company’s previously provided guidance of $1.15 to $1.35

It Generated strong operating cash flow of $834 million and $456 million of Free Cash Flow in 2024

Sonoco Produced fourth quarter adjusted EBITDA of $247 million, up 4.6% from the corresponding prior year quarter

Fourth quarter net sales of $1.4 billion reflect an increase of 2% compared to the corresponding prior year quarter, driven by low single digit volume gains and partial December sales attributable to Titan Holdings I B.V. (“Eviosys”) following the completion of the acquisition on December 4, 2024, partially offset by the loss of net sales from the divested Protective Solutions (“Protexic”) business, the treatment of recycling operations as a procurement function beginning January 1, 2024 and lower selling prices

“2024 was a milestone year for Sonoco in achieving our strategy to globally scale our metal packaging platform through the acquisition of Eviosys and to transform our portfolio to comprise more sustainable Consumer and Industrial packaging businesses through the announced divestiture of TFP and strategic review of some of our other resin-based diversified businesses,” said Howard Coker, President and Chief Executive Officer. 

“Our fourth-quarter results were within our expectations as we benefited from strong productivity improvements that more than offset price/cost headwinds that persisted across most of our businesses. Overall, we achieved the second best operating cash flow in our history and maintained solid operating performance due to the focused execution of our global team.”