---
schema_version: "secwatch.filing_event.v1"
accession: "0000091767-24-000026"
form_type: "8-K"
ticker: "SON"
cik: "0000091767"
company_name: "SONOCO PRODUCTS CO"
filed_at: "2024-04-30T23:59:59+00:00"
generated_at: "2026-06-03T05:16:24.075271+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Sonoco Q1 GAAP EPS down 56% to $0.66; sells Protective Solutions for $82M, raises dividend

## Summary
- Net sales $1,638M (-5% YoY); GAAP operating profit $112M (-51%); GAAP net income $65M (-56%).
- Adjusted EPS $1.12 (-20% YoY); Adjusted EBITDA $245M (-11%); productivity savings of $51M.
- Completed sale of Protective Solutions on April 1 for $82M cash; proceeds used to reduce debt.
- Quarterly dividend raised to $0.52/share (41st consecutive annual increase); reaffirmed operating cash flow guidance.
- Revised adjusted EPS and EBITDA guidance downward to reflect the completed divestiture.

## SEC filing metadata
- accession: 0000091767-24-000026
- form_type: 8-K
- ticker: SON
- cik: 0000091767
- company_name: SONOCO PRODUCTS CO
- filed_at: 2024-04-30T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/91767/000009176724000026/0000091767-24-000026-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/91767/000009176724000026/son-20240430.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000091767-24-000026
- JSON: https://secwatch.observer/filing/0000091767-24-000026.json
- Plain text: https://secwatch.observer/filing/0000091767-24-000026.txt

## Key facts
- Earnings Releases
  SONOCO PRODUCTS CO reported first quarter ended March 31, 2024 results: revenue $1,638 million, net income $65 million, EPS $0.66. Guidance reaffirmed.
  - Period: first quarter ended March 31, 2024
  - Revenue: $1,638 million
  - Net income: $65 million
  - EPS: $0.66
  - Guidance: reaffirmed
  - Result: reported results
  source text: On April 30, 2024, Sonoco Products Company (the "Company") issued a news release reporting its financial results for the quarter ended March 31, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/91767/000009176724000026/0000091767-24-000026-index.htm
- Earnings Releases
  SONOCO PRODUCTS CO updated its second quarter and full year 2024 guidance (reaffirmed).
  - Period: second quarter and full year 2024
  - Guidance: reaffirmed
  - Result: guidance update
  source text: The Company also provided guidance for the second quarter and full year 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/91767/000009176724000026/0000091767-24-000026-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.