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SON-News
SON-Events
Sonoco Invests $25M to Expand Wood Reel Manufacturing Capacity
Sonoco announced continued investment to expand its wood reels manufacturing and assembly footprint to meet a surge in demand for power and communications cable packaging driven by AI data center growth and power grid modernization. Since 2024, Sonoco has invested just over $25M to expand wood reels manufacturing and assembly capabilities. Those investments have grown the company's manufacturing capacity and footprint by more than 30% across the Hartselle, Alabama and Jefferson, Texas sites. The Hartselle expansion will add roughly 15% incremental nailed wood manufacturing capacity at that site and increase manufacturing floorspace by about 33%, creating room for future growth. The project also includes upgraded quality inspection systems and advanced manufacturing technology to improve throughput and consistency.
Company Sees FY26 Adjusted EPS Toward Low End of Range
Sees FY26 adjusted EPS toward low end of range. Still sees FY26 revenue $7.25B-$7.75B, consensus $7.45B. Sees FY adjusted EBITDA $1.25B-$1.35B.
Sonoco Reports Q2 Revenue of $1.89B, Exceeding Expectations
Reports Q2 revenue $1.89B, consensus $1.88B. "Our Sonoco team delivered solid second quarter results that met our expectations and exceeded consensus estimates as productivity and cost control initiatives helped offset global inflation headwinds stemming from higher logistics, chemicals, resins and other raw material costs," said Howard Coker, President and Chief Executive Officer. "Results from our Industrial Paper Packaging segment exceeded expectations with operating profit up 4% during the period and up 29% from the first quarter. The Industrial segment improvement was primarily driven by productivity gains which more than offset price/cost headwinds. North America URB trade tons grew 6% which boosted mill utilization to 95%, while the segment's volume/mix was flat. Our Consumer Packaging segment operating profit declined approximately 5% during the period but was up 22% sequentially from the first quarter. Productivity and cost containment initiatives boosted Consumer segment results. Paper can volumes were up 9% in EMEA/APAC due to rising snack demand, but overall segment volumes were down 1.8% driven primarily by lower metal aerosol cans and adhesive and sealant tube demand."
Sonoco Shares Drop 14.5% to $48.56
Sonoco is down -14.5%, or -$8.23 to $48.56.
U.S. Stocks Rise on Ceasefire Agreement, S&P 500 Up 0.81%
The major averages were broadly higher near noon following the announcement that the U.S. will extend its ceasefire with Iran indefinitely. Traders even appear to be shrugging of comments from President Trump that Iran's government is "seriously fractured," along with news that Vice President JD Vance has paused his trip to Pakistan for peace talks. As equities rise, there are already reports of renewed tensions in the Strait of Hormuz and continued disruptions to shipping, which is keeping oil prices elevated.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Boeingreportedearnings and revenueAT&Treportedand reiterated its FY26 earnings guidanceAlibabaand Tencentare in talks to invest in DeepSeek,Elon Musk's SpaceX said it has thelater this year for $60BPalantirand the USDA signed a $300M2. WALL STREET CALLS:Wells FargoAirbnbto Overweight on "significant business inflection"BofATwilioto Buy from UnderperformBiogento Buy at UBSZscalerto Equal Weight at Morgan StanleyBarclaysPrudentialto a sell-equivalent rating amid "too many headwinds"3. AROUND THE WEB:Callisto Research says it is short Sportradar, "a self-styled 'Sports Integrity' leader with ties to illegal gambling, sanctioned parties, criminals, and a completely fake regulator."Robinhood'sventure fund is investing $75M in OpenAI, signaling a reconciliation after last year's dispute over Robinhood's tokenized "access" to OpenAI shares, which OpenAI publicly disavowed, NY Times saysInhibrx Biosciences'INBRX-106 cancer drug is drawing interest from Merckand Japan's Ono Pharmaceuticals, Reuters reportsAfter Bloomberg reported yesterday, citing sources, that Deutsche Telekomis considering a full combination with T-Mobile, CNBC's David Faber said his sources call such speculation "way ahead of itself" and that there is "nothing imminent at all" regarding any type of such dealMicronis pushing U.S. lawmakers to pass the "MATCH Act," which would tighten export restrictions on chipmaking equipment used by Chinese semiconductor firms and close gaps in existing controls, Reuters says4. MOVERS:GE Vernovaincreases afterand raising its guidance for FY26Kopin (KOPN) higher after being awarded afor optic modulesRogers Communicationsgains in New York afterbacking its guidance for FY26, and declaring a C$0.50 per share quarterly dividendCalix (CALX) lower afterand providing guidance for FY26Sonoco (SON) and TE Connectivityfall in New York after5. EARNINGS/GUIDANCE:NVR (NVR), with EPS and revenue missing consensusStifel, with EPS beating consensusMoodyand reaffirmed its guidance for FY26Masco, with CEO Jon Nudi commenting on "strong first quarter operating results in an extremely dynamic environment"Teledyneand raised its guidance for FY26INDEXES:Near midday, the Dow was up 0.68%, or 333.97, to 49,483.35, the Nasdaq was up 1.27%, or 307.88, to 24,567.84, and the S&P 500 was up 0.81%, or 57.01, to 7,121.02.
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