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Net sales for the second quarter of 2020 were $1.25 billion, down 8.4% from last year's second quarter
July 29, 2020
By: DAVID SAVASTANO
Editor, Ink World Magazine
Sonoco reported financial results for its second quarter ended June 28, 2020, and provided an update related to the impact of the COVID-19 pandemic on the company. Net sales for the second quarter of 2020 were $1.25 billion, down 8.4% from last year’s second quarter sales of $1.36 billion. The sales decline was driven by lower volume/mix, a stronger U.S. dollar and lower selling prices. These negative impacts were partially offset by increased sales from acquisitions. GAAP net income att...
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