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Sonoco Products
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Latest analysis
Updated Oct 28, 2026
Sonoco Q3 2026: $828.9M goodwill impairment on EMEA/APAC metal packaging as EU steel tariffs and weather events collapse Eviosys-era assumptions
Sonoco recognized $828.9 million in non-cash goodwill impairment charges during Q3 2026, driven by EU steel import restrictions, adverse agricultural weather reducing metal can demand, and reduced Eviosys procurement synergies — collectively forcing management to lower revenue, margin, and cash flow projections for Consumer Packaging EMEA/APAC to the point where fair value fell 18.4% below carrying value. On an adjusted basis, operating profit declined 13.1% year-over-year to $268.0 million as an unfavorable price/cost spread of $(51.6) million and volume/mix deterioration of $(6.9) million outpaced $41.4 million in productivity savings. The Consumer Packaging EMEA/APAC reporting unit remains at risk of additional impairment, with estimated fair value now approximating carrying value and $624.2 million of goodwill still on the books.
Tone: defensiveRevenue
$7.5B
SON 10-K · FY 2025
Employees
22,000
Revenue FY2024
$5.3B
Founded
1899
Profile
SON 10-K Item 1 · Feb 26, 2026Sonoco Products Company is a global designer, developer, and manufacturer of highly engineered and sustainable packaging products, operating through two core segments: Consumer Packaging and Industrial Paper Packaging. Founded in 1899 in Hartsville, South Carolina, the company serves some of the world's best-known brands across multiple end markets in 37 countries. Its 2024 acquisition of Eviosys — the largest in Sonoco's history — and the 2025 divestitures of TFP and ThermoSafe completed a multi-year portfolio transformation into two focused global segments.
Read filing description ↓ Collapse description ↑
Sonoco Products Company is a multi-billion dollar global designer, developer, and manufacturer of a variety of highly engineered and sustainable packaging serving multiple end markets. As of December 31, 2025, the Company had approximately 265 locations in 37 countries, serving some of the world's best-known brands around the globe. Sonoco is committed to creating sustainable products, services, and programs for the environment and our customers, employees, and communities that support our corporate purpose: Better Packaging. Better Life. Our goal is to bring more to packaging than just the package by offering integrated packaging solutions that help define brand personalities, create unique customer experiences, and enhance the quality of products. We seek to help our customers solve their packaging challenges by connecting insights to innovation and developing customized solutions that are tailored to the customers' goals and objectives. The Company's operating and reporting structure consists of two reportable segments, Consumer Packaging and Industrial Paper Packaging, with all remaining businesses reported as All Other. The Consumer Packaging segment produces rigid packaging in paper, metal, and plastic, primarily serving consumer staples markets focused on food, beverage, household, personal, and pharmaceutical products. The Industrial Paper Packaging segment produces goods from recycled fiber including paperboard tubes, cores, cones and cans; partitions; paper-based protective materials; and uncoated recycled paperboard. Sonoco's paper operations provide the primary raw material for its fiber-based packaging, supported by 19 paper mills with 25 paper machines throughout the world. The Company also operates 16 recycling facilities in the United States.
Primary products
- metal cans
- rigid paper containers
- paperboard tubes and cores
- cones and cans
- partitions
- paper-based protective materials
Business segments
End markets
Geographies
“The Company, having operated internationally since 1923, considers its ability to serve its customers worldwide in a timely and consistent manner a competitive advantage.” Competitive position, as stated in the filing
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