Record Top and Bottom Line Performance
Net sales grew 57%, and adjusted EBITDA was up 37%, reaching a record 18.1% margin. Total adjusted earnings grew 29% despite higher-than-expected interest expenses.
Successful Portfolio Transformation
Sonoco entered into an agreement to sell its ThermoSafe business for up to $725 million, signaling a focus on a streamlined portfolio with two core business segments: Consumer and Industrial Packaging.
Strong Consumer Packaging Growth
Consumer Packaging sales and operating profit grew 117%, and adjusted EBITDA increased 112%, driven by the Metal Packaging EMEA acquisition and strong performance in the U.S. metal packaging business.
Industrial Packaging Margin Expansion
Industrial Packaging segment saw operating profits up 28% and adjusted EBITDA up 21%, marking the eighth consecutive quarter of margin improvement.
Operational Efficiency and Synergy Realization
Efforts to achieve $100 million in annual run rate synergies by the end of 2026 are on track, with savings benefiting the entire consumer metal and paper can portfolio.