Industry News, Printers News

Sonoco Reports 4Q, Full Year 2022 Results

Company achieves record annual revenue, operating profit and earnings per share.

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By: DAVID SAVASTANO

Editor, Ink World Magazine

Sonoco Products Company reported financial results for its fourth quarter and full year, which ended Net sales increased 30% year over year to $7.3 billion driven by strategic pricing performance and strong results from the Sonoco Metal Packaging acquisition. These increases were partially offset by lower volumes in industrial paper products and the impact of foreign currency exchange. Operating profit was $675 million, up 39%, while net income was $466 million, up from a loss of $85 million ...

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