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Net sales decreased 5% to $1.6 billion, primarily driven by the Protective Solutions (Protexic) divestiture.
August 2, 2024
By: DAVID SAVASTANO
Editor, Ink World Magazine
Sonoco Products Company reported financial results for its second quarter ended June 30, 2024. Net sales decreased 5% to $1.6 billion primarily driven by the Protective Solutions (Protexic) divestiture, the closure of a thermoformed food packaging plant, the treatment of recycling operations as a procurement function beginning January 1, 2024 and lower selling prices; overall volumes were positive and up low single digits including the impact of acquisitions GAAP operating profit decreased...
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