Sonoco Announces Robust Financial Results for Q4 and Full Year 2018

SEATTLE (Scrap Monster): The Hartsville-headquartered global packaging major, Sonoco, has announced financial results for the fourth quarter 2018 and full year ending December 31, 2018.

According to company press release, the Q4 ’18 earnings per diluted share were $0.77, as compared with $0.06 in 2017. The base net income attributable to Sonoco for the quarter was $0.84 per diluted share. Fourth quarter net sales were up by 4.4% from $1.30 billion in 2017 to $1.36 billion in 2018. The improved sales were mainly on account of recent acquisitions and higher selling prices. The gross profits totaled $254.3 million in Q4 ’18, as compared with $244.4 million in the same quarter in 2017.

The full year 2018 earnings per diluted share was $3.10 as compared to $1.74 in 2017. Full-year 2018 net sales grew 7.0 percent to a record $5.39 billion, compared to $5.04 billion in 2017. Full-year cash flow from operations was $589.9 million for 2018. 2018 gross profit was a record $1,041.0 million, compared with $958.7 million in 2017. Sonoco generated $589.9 million cash from operations during the year. The total debt stood at around $1.39 billion, lower when compared with $1.45 billion a year before.

Sonoco expects the base earnings for Q1 ’19 to range between $0.77 and $0.83 per diluted share. The full year 2019 base earnings are expected to be in the range of $3.47 to $3.57 per diluted share. Also, full-year 2019 operating cash flow and free cash flow are expected to be in a range of $600 million to $620 million and $225 million and $245 million, respectively.