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Generated $617 million of operating cash flow in the first nine months of 2023.
November 3, 2023
By: DAVID SAVASTANO
Editor, Ink World Magazine
Sonoco Products Company reported financial results for its third quarter ended Oct. 1, 2023. In 3Q 2023, net sales decreased to $1.7 billion driven by lower volumes and average selling prices. GAAP operating profit decreased to $163 million due to lower overall volume and mix and price/cost, partially offset by higher productivity. Sonoco achieved net income margin of 7.6% and adjusted EBITDA margin of 16.4%. GAAP net income increased to $131 million for GAAP EPS (diluted) of $1.32. Adjust...
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