secwatch.observer — SEC 8-K summary
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Issuer:     SONOCO PRODUCTS CO (SON)
CIK:        0000091767
Form:       8-K
Filed at:   2024-04-30T23:59:59+00:00
Accession:  0000091767-24-000026
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/91767/000009176724000026/0000091767-24-000026-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/91767/000009176724000026/son-20240430.htm
  HTML page:      https://secwatch.observer/filing/0000091767-24-000026

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