Sonoco Overviews Strategic Plan and Reveals Financial Guidance for 2022

SEATTLE (Scrap Monster): Sonoco- the Hartsville, S.C.-headquartered diversified global packaging company provided an overview of its five-year strategic plan and 2022 financial guidance.

Howard Coker, President and CEO, Sonoco noted that the targets to grow organic EBITDA to $1 billion by 2026. In order to achieve this ambitious goal, the company plans further capital investment in its core business segments, so as to deliver stronger results. In addition to simplifying its structure, Sonoco will continue to pursue acquisitions that boost the portfolio, he noted. Apart from these, it will execute an operating strategy to implement a series of “self-help” actions, aimed at generating $180 million in incremental annual EBITDA over the next five-year period.

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The company expects the Q4 2021 earnings to range between $0.54 and $0.70 per diluted share. The full year 2021earnings are expected at a loss of between ($0.81) and ($0.97) per diluted share. The fourth-quarter and full-year 2021 base earnings are expected to be at the top end of its previously communicated guidance range of $0.84 and $0.90 per diluted share and $3.49 and $3.55 per diluted share, respectively

Sonoco reiterated guidance for 2021 operating cash flow and free cash flow of between $520 million and $550 million and $270 million to $300 million, respectively.