Sonoco Products Q3 sales miss estimates on lower volume, weak food can demand
SON•Sonoco Products reported Q3 sales of $2.04 billion and adjusted EPS of $1.67, missing analyst estimates of $2.08 billion and $1.76. The company posted a $732 million net loss and forecast 2026 net sales of $7.20 billion to $7.40 billion and adjusted EPS of $5.30 to $5.50.
1. Quarterly results
Q3 net sales fell 4.2% year over year to $2.04 billion, below the $2.08 billion analyst consensus, while adjusted EPS of $1.67 missed the $1.76 estimate. Sonoco posted a net loss of $732 million, or $7.36 per share, including an $829 million goodwill impairment charge.
2. Demand and costs
The company said drought in Europe and the U.S. reduced crop yields and pressured food can demand. Higher selling prices helped offset inflation and tariffs, but lower volume and mix weighed on sales; inflation-related price and cost headwinds also more than offset productivity savings and cost reductions.
3. 2026 outlook
Sonoco expects 2026 net sales of $7.20 billion to $7.40 billion, adjusted EPS of $5.30 to $5.50 and adjusted EBITDA of $1.20 billion to $1.25 billion.
