Sonoco Q2 adjusted EPS $1.28, revenue $1.62B down 5%; announces $3.9B Eviosys acquisition

SONOCO PRODUCTS CO

2024-Q2 EPS reported $1.57 revenue$1,278,801,000

GAAP net income $91M ($0.92 EPS); adjusted EPS $1.28, both down ~7% YoY.
Net sales $1,623M, down 5% YoY; operating profit $140M, down 25%.
Announced $3.9B acquisition of Eviosys, expected close Q4 2024.
Reaffirmed FY 2024 adjusted EBITDA, EPS, and operating cash flow guidance.
Generated $275M operating cash flow and $96M free cash flow in H1 2024.

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