Industry News, Printers News

Sonoco Reports 4Q, Full-Year 2019 Results

Sonoco’s 2019 gross profit was a record $1,057.8 million, with gross profit as a percentage of sales in 2019 of 19.7%.

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By: DAVID SAVASTANO

Editor, Ink World Magazine

Sonoco reported financial results for its fourth quarter and full year, both ending Dec. 31, 2019. Sonoco’s 2019 net sales were $5.37 billion, a decline of $16.7 million, compared with $5.39 billion in 2018. Sales were down 0.3% for the year as acquisitions and higher selling prices were offset by negative volume/mix, the negative impact of foreign exchange and the absence of sales related to the contract packaging operation that Sonoco exited in September 2018. GAAP net income attributable to...

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