Form 8-K

8-K — SONOCO PRODUCTS CO

Accession: 0000091767-26-000034

Filed: 2026-07-22

Period: 2026-07-22

CIK: 0000091767

SIC: 2650 (PAPERBOARD CONTAINERS & BOXES)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — son-20260722.htm (Primary)

EX-99 (ex99q22026earningsrelease.htm)

GRAPHIC (image1.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: son-20260722.htm · Sequence: 1

son-20260722

0000091767false00000917672026-07-222026-07-22

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 22, 2026

SONOCO PRODUCTS COMPANY

Commission File No. 001-11261

South Carolina

57-0248420

(State or other jurisdiction of incorporation) (IRS Employer Identification No.)

1 N. Second St.

Hartsville, South Carolina 29550

(Address of principal executive offices)(Zip Code)

(843) 383-7000

(Registrant's telephone number, including area code)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading symbol(s) Name of each exchange on which registered

No par value common stock

SON New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On July 22, 2026, Sonoco Products Company (the "Company") issued a news release reporting its financial results for the quarter ended June 28, 2026. The Company also provided guidance for the full year 2026. A copy of that release is attached as an exhibit hereto.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No. Description of Exhibit

Registrant's Second Quarter 2026 Earnings Release

104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

SONOCO PRODUCTS COMPANY

Date: July 22, 2026 By: /s/ Paul Joachimczyk

Paul Joachimczyk

Chief Financial Officer

EX-99

Filename: ex99q22026earningsrelease.htm · Sequence: 2

Document

July 22, 2026

Sonoco Reports Second Quarter 2026 Results

Hartsville, S.C., U.S. - Sonoco Products Company (“Sonoco” or the “Company”) (NYSE: SON), a Mid-cap Value global packaging company, today reported financial results for the second quarter ended June 28, 2026.

Summary:

•Net sales in the second quarter were $1.9 billion

▪Industrial Paper Packaging segment results exceeded expectations as North America uncoated recycled paperboard (URB) trade ton sales volume grew 6%

▪EMEA/APAC paper cans sales volume up 9%

•Reported GAAP net income of $105 million, or $1.05 diluted earnings per share, compared to $493 million, or $4.96, in the same period in 2025, which included a gain from the sale of the Thermoformed and Flexibles Packaging and global Trident (“TFP”) business totaling $425 million

•Improved quarterly adjusted net income by 10.6% to $151 million compared to the same period in 2025, and reported adjusted diluted earnings per share of $1.51

•Reported GAAP operating profit of $193 million in the second quarter of 2026, compared with $176 million in the same period in 2025

•Second quarter adjusted operating profit of $242 million and adjusted EBITDA of $324 million

•Generated a second quarter record operating cash flow of $301 million, and used $(67) million of operating cash flow year-to-date, which included approximately $103 million in one-time taxes paid in 2026 on gains from the sales of the divested TFP and ThermoSafe businesses in 2025

2026 Guidance:

•Reaffirming full-year 2026 guidance for sales, adjusted EBITDA, adjusted earnings per share and operating cash flow as reported with our April first quarter results.

*Note: References in today’s news release to 2025 consolidated “net sales,” “operating profit,” and “adjusted operating profit,” and Consumer Packaging “segment operating profit” and “segment adjusted EBITDA,” do not include results of TFP, which was sold in April 2025 and is accounted for as discontinued operations in periods prior to the sale. “GAAP” refers to U.S. generally accepted accounting principles.

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Sonoco Reports Second Quarter 2026 Results - Page 2

Second Quarter 2026 Consolidated Results

(Dollars in millions except per share data)

Three Months Ended Six Months Ended

GAAP Results June 28, 2026 June 29, 2025 Change June 28, 2026 June 29, 2025 Change

Net sales1

$ 1,885 $ 1,910 (1.3) % $ 3,562 $ 3,620 (1.6) %

Net sales related to discontinued operations — — NM — 321 NM

Operating profit1

193 176 9.8 % 320 303 5.8 %

Operating profit related to discontinued operations

— 626 NM — 664 NM

Net income attributable to Sonoco

105 493 (78.7) % 172 548 (68.5) %

EPS (diluted) 1.05 4.96 (78.8) % 1.73 5.51 (68.6) %

Three Months Ended Six Months Ended

Non-GAAP Results2

June 28, 2026 June 29, 2025 Change June 28, 2026 June 29, 2025 Change

Adjusted operating profit1

$ 242 $ 247 (1.8) % $ 443 $ 460 (3.6) %

Adjusted EBITDA 324 328 (1.2) % 601 666 (9.8) %

Adjusted net income attributable to Sonoco 151 136 10.6 % 270 273 (1.1) %

Adjusted EPS (diluted) 1.51 1.37 10.2 % 2.71 2.74 (1.1) %

NM = Not Meaningful

1Excludes results of discontinued operations.

2See the Company’s definitions of non-GAAP financial measures, explanations as to why they are used, and reconciliations to the most directly comparable GAAP financial measures later in this release.

•Second quarter 2026 net sales of $1.9 billion were down (1.3)% compared to the corresponding prior-year quarter, driven primarily by the November 3, 2025 divestiture of the ThermoSafe business. Additionally, net sales benefited from higher prices implemented to offset the effects of inflation and tariffs and from the favorable impact of foreign exchange rates, partially offset by lower volume/mix.

•GAAP operating profit for the second quarter was up 9.8% to $193 million compared to the corresponding prior-year quarter, due to productivity savings from fixed cost reduction initiatives and procurement savings. These positive factors were offset by the absence of operating profit from the divested ThermoSafe business and lower volume/mix.

•Effective tax rates on GAAP income from continuing operations before income taxes and adjusted income from continuing operations before income taxes, were 27.8% and 23.8%, respectively, in the second quarter, compared to 37.3% and 25.6%, respectively, in the same period in 2025.

“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

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Sonoco Reports Second Quarter 2026 Results - Page 3

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.”

Paul Joachimczyk, Sonoco’s Chief Financial Officer, added, “Our businesses continue to demonstrate tremendous cash-generating capabilities, delivering a record second-quarter operating cash flow of $301 million and free cash flow of $237 million, increases of 56% and 139%, respectively, compared to the prior year. These results reflect disciplined working capital management and the earnings power of our portfolio. Year-to-date operating cash flow includes approximately $103 million of one-time tax payments related to gains from our 2025 divestitures, highlighting that our underlying cash flow performance is strong and supports our confidence in reaffirming full-year guidance.”

Second Quarter 2026 Segment Results

(Dollars in millions except per share data)

Sonoco reports its financial results in two reportable segments: Consumer Packaging (“Consumer”) and Industrial Paper Packaging (“Industrial”).

As previously announced, effective January 1, 2026, results of the Company’s industrial and specialty plastics business (“Industrial Plastics”), the only business remaining in the All Other group of businesses following the November 2025 divestiture of ThermoSafe, are now included in the Industrial segment. Therefore, the Company no longer provides results of the All Other group of businesses.

Three Months Ended Six Months Ended

Consumer

June 28, 2026 June 29, 2025 Change June 28, 2026 June 29, 2025 Change

Net sales1

$ 1,242 $ 1,227 1.2 % $ 2,339 $ 2,294 2.0 %

Segment operating profit1

$ 152 $ 160 (5.4) % $ 277 $ 301 (7.9) %

Segment operating profit margin1

12.2 % 13.1 % 11.9 % 13.1 %

Segment Adjusted EBITDA1, 2

$ 207 $ 213 (3.1) % $ 383 $ 403 (4.9) %

Segment Adjusted EBITDA margin1, 2

16.6 % 17.4 % 16.4 % 17.6 %

•Consumer segment net sales grew 1.2%, reflecting successful pricing actions to recover inflation and tariff-related costs, along with favorable foreign exchange. Volume trends remained below prior-year levels.

•Solid manufacturing productivity improvements and disciplined cost management helped mitigate the impact of softer volumes on segment operating profit and adjusted EBITDA.

Three Months Ended Six Months Ended

Industrial

June 28, 2026 June 29, 2025 Change June 28, 2026 June 29, 2025 Change

Net sales3

$ 643 $ 617 4.2 % $ 1,223 $ 1,205 1.5 %

Segment operating profit3

$ 89 $ 86 4.0 % $ 159 $ 162 (2.2) %

Segment operating profit margin 13.9 % 13.9 % 13.0 % 13.5 %

Segment Adjusted EBITDA2, 3

$ 122 $ 119 2.9 % $ 222 $ 226 (1.9) %

Segment Adjusted EBITDA margin2

19.0 % 19.2 % 18.1 % 18.8 %

•Industrial segment net sales increased 4.2% to $643 million, reflecting successful pricing actions and favorable foreign exchange.

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Sonoco Reports Second Quarter 2026 Results - Page 4

•Segment operating profit margin remained resilient at 13.9%, consistent with the prior year, while adjusted EBITDA margin of 19.0% benefited from strong productivity initiatives related to procurement savings and fixed cost reduction that helped offset higher raw material, freight and other operating costs.

1 Excludes results of discontinued operations.

2 Segment adjusted EBITDA and adjusted EBITDA margin are non-GAAP financial measures. See the Company’s reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures later in this release.

3 Net sales, segment operating profit, and segment adjusted EBITDA for the three months ended June 29, 2025 include results from Industrial Plastics of $29 million, $5 million, and $6 million, respectively, previously included in All Other, to provide clearer year-over-year comparisons.

Balance Sheet and Cash Flow Highlights

•The Company maintained strong liquidity of $1.3 billion at June 28, 2026, consisting of $1.1 billion of available borrowing capacity under its revolving credit facility and cash on hand.

•Cash and cash equivalents were $169 million as of June 28, 2026, compared to $378 million, as of December 31, 2025.

•Total debt and net debt were $4.5 billion and $4.3 billion, respectively, as of June 28, 2026, primarily reflecting seasonal working capital requirements within the Company's metal packaging business.

•Cash flow from operating activities for the period ended June 28, 2026 was a use of $(67) million, compared to a use of $(15) million in the same period of 2025. The main drivers of the year-over-year change in operating cash flow were a one-time payment of taxes in 2026 on the gains from the 2025 divestitures of the TFP and ThermoSafe businesses and the seasonal need for working capital for the Company’s metal packaging business.

•Capital expenditures, net of proceeds from sales of fixed assets, for 2026 were $124 million, compared to $186 million last year.

•Free Cash Flow for the period ended June 28, 2026 improved to $(191) million compared to $(201) million in the same period in 2025, reflecting the factors impacting operating cash flow discussed above.

•The Company returned $106 million to shareholders through dividends during the first half of 2026, compared to $104 million in the prior year period.

Guidance(1)

Full-Year 2026

•Net Sales: $7.25 billion to $7.75 billion, in line with previous guidance

•Adjusted EPS(2): Maintaining annual adjusted EPS guidance of $5.80 to $6.20 per diluted share and continuing to expect results toward the low end of the range

•Adjusted EBITDA(2): Guidance of $1.25 billion to $1.35 billion is unchanged from previous guidance

•Cash flow from operating activities: Guidance remains unchanged at $700 million to $800 million, including the effect of payments of prior year taxes on gains from divestitures and restructuring costs

Commenting on Sonoco’s outlook, Howard Coker said, “Entering the second half of the year we are encouraged that several key indicators are strengthening in our favor as we begin our busiest period of the year. Demand for our URB in North America is very strong as a result of entering new markets, such as saturating URB for laminated products, along with share gains that have expanded our backlogs and require that we import paper from our Europe and Latin America mills through the third quarter. In our Consumer segment, projected paper can growth in Europe, Asia, and South America has us exploring additional capacity expansion plans while customer promotions and new product launches are projected to lift both paper and metal can volumes as we enter the important seasonal pack season in both the U.S. and EMEA. While we remain mindful of external macroeconomic risks, we are confident in our strategy, portfolio and ability to execute through economic cycles.”

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Sonoco Reports Second Quarter 2026 Results - Page 5

Joachimczyk added, “As pricing actions and contract resets take effect, we expect improved margin performance across our portfolio. Combined with ongoing productivity initiatives, disciplined cost management and execution of our profitability performance plan, we remain confident in achieving our long-term goal of improving margins by 200 basis points by the end of 2028.”

(1)Although the Company believes the assumptions reflected in the range of guidance are reasonable, given the uncertainty regarding the future performance of the overall economy, the effects of tariffs, trade policy and inflation, the challenges in global supply chains, potential changes in raw material prices, other costs, and the Company’s effective tax rate, as well as other risks and uncertainties, including those related to the integration of Eviosys and described below, actual results could vary substantially. Further information can be found in the section entitled “Forward-looking Statements” in this release.

(2) Full year 2026 GAAP guidance is not provided in this release due to the likely occurrence of one or more of the following, the timing and magnitude of which we are unable to reliably forecast without unreasonable efforts: restructuring costs and restructuring-related impairment charges, acquisition/divestiture-related costs, gains or losses from the sale of businesses and the income tax effects of these items and/or other income tax-related events. These items could have a significant impact on the Company’s future GAAP financial results. Accordingly, quantitative reconciliations of Adjusted EPS and Adjusted EBITDA guidance and net debt/Adjusted EBITDA targets to the nearest comparable GAAP measures have been omitted in reliance on the exception provided by Item 10 of Regulation S-K.

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Sonoco Reports Second Quarter 2026 Results - Page 6

Earnings Conference Call Webcast

Sonoco’s management will host a conference call to discuss its second quarter 2026 results on Thursday, July 23, 2026, at 8:00 a.m. Eastern Time. The Company will provide prepared remarks, a presentation and host a question-and-answer session during the call. A live audio webcast of the call along with supporting materials will be available on the Sonoco Investor Relations website at https://investor.sonoco.com/. A webcast replay will be available on the Company’s website for at least 30 days following the call.

Time: Thursday, July 23, 2026, at 8:00 a.m. Eastern Time

Audience

Dial-In:

To listen via telephone, please register in advance at:

https://events.q4inc.com/analyst/818434126?pwd=xd1mxKQr

After registration, all telephone participants will receive the dial-in number along with a unique PIN number that can be used to access the call.

Webcast Link: https://events.q4inc.com/attendee/818434126

Contact Information:

Roger Schrum

Head of Investor Relations and Communications

roger.schrum@sonoco.com

843-339-6018

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Sonoco Reports Second Quarter 2026 Results - Page 7

About Sonoco

Sonoco (NYSE: SON) is a Mid-cap Value global packaging company. With sales of $7.5 billion from continuing operations in 2025, the Company has approximately 22,000 employees working in 265 operations in 37 countries, serving some of the world’s best-known brands. Guided by our purpose of Better Packaging. Better Life., we strive to foster a culture of innovation, collaboration and excellence to provide solutions that better serve all our stakeholders and support a more sustainable future. A Fortune 500 company, Sonoco was proudly named one of the World’s Most Admired Companies by Fortune in 2026 as well as one of America’s Most Trustworthy and Responsible Companies by Newsweek and USA Today’s Climate Leaders in 2025. For more information on the Company, visit our website at www.sonoco.com.

Forward-looking Statements

Statements included herein that are not historical in nature, are intended to be, and are hereby identified as “forward- looking statements” for purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended. In addition, the Company and its representatives may from time to time make other oral or written statements that are also “forward-looking statements.” Words such as “achieve,” “believe,” “can,” “continue,” “continuing,” “could,” “deliver,” “enhance,” “expect,” “forecast,” “focus,” “future,” “goal,” “guidance,” “improvement,” “likely,” “may,” “might,” “ongoing,” “outlook,” “plan,” “projected,” “remain,” “seek,” “should,” “strategy,” “target,” “will,” “would,” “working,” or the negative thereof, and similar expressions identify forward-looking statements.

Forward-looking statements in this communication include statements regarding, but not limited to: the Company’s future operating and financial performance, including full year 2026 outlook and the anticipated drivers thereof and cash flow in 2026; the Company’s ability to improve its competitive position and drive cost savings, including through its profitability performance plan; price/cost, customer demand and volume outlook; the continued focus on planned structural and operational savings actions to achieve long-term margin improvement goals; the effectiveness of and expected benefits from the Company’s strategy and strategic initiatives, including with respect to sustainable growth, margin improvement, and capital allocation, and focused metal and paper packaging portfolio; the effects of the changing macroeconomic and geopolitical environment, including trade policies and tariffs, market conditions, inflation and interest costs on the Company, its supply chain and its customers, and the Company’s ability to manage risks related thereto; and the Company’s ability to execute through economic cycles.

Such forward-looking statements are based on current expectations, estimates and projections about our industry, management’s beliefs and certain assumptions made by management. Such information includes, without limitation, discussions as to guidance and other estimates, perceived opportunities, expectations, beliefs, plans, strategies, goals and objectives concerning our future financial and operating performance. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict.

Therefore, actual results may differ materially from those expressed or forecasted in such forward-looking statements.

Such risks, uncertainties and assumptions include, without limitation, those related to: the Company’s ability to execute on its strategy, including with respect to the integration of the Eviosys operations, divestitures, cost management, productivity improvements, restructuring and capital expenditures, and achieve the benefits it expects therefrom; conditions in the credit markets; the ability to retain key employees and successfully integrate Eviosys; the ability to realize estimated cost savings, synergies or other anticipated benefits of the Eviosys acquisition, or that such benefits may take longer to realize than expected; diversion of management’s attention; the potential impact of the consummation of the Eviosys acquisition on relationships with clients and other third parties; lower-than-projected financial performance of the Company’s European business, including as a result of loss or reduction in business from key customers, changes in our pricing model, or adverse changes in the macroeconomic or competitive environment in European markets; risks related to the impairment of goodwill and other intangibles; the operation of new manufacturing capabilities; the Company’s ability to achieve anticipated cost and energy savings; the availability, transportation and pricing of raw materials, energy and transportation, including the impact of changes in tariff or other trade policies or sanctions and escalating trade wars, and the impact of war, general regional instability and other geopolitical tensions (such as the ongoing conflicts between Russia and Ukraine and in the Middle East, the potential escalation of tensions between China and Taiwan and recent events in Venezuela), and the Company’s ability to continue to pass raw material, energy and transportation price increases and surcharges through to customers or otherwise manage these commodity pricing risks; the costs of labor; the effects of inflation, changes related to tariffs or other trade policies and global regulations, as well as the overall uncertainty surrounding international trade relations; fluctuations in consumer demand, volume softness, and other macroeconomic factors

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Sonoco Reports Second Quarter 2026 Results - Page 8

on the Company and the industries in which it operates and that it serves; the impact of changing laws and regulations, in the United States, on the Company; the Company’s ability to meet its environmental, sustainability and similar goals and other social and governance goals, including challenges in implementation thereof; natural disasters, severe weather events, and other unexpected disruptions to facility operations; and the other risks, uncertainties and assumptions discussed in the Company’s filings with the Securities and Exchange Commission, including its most recent reports on Forms 10-K and 10-Q, particularly under the heading “Risk Factors.” The Company undertakes no obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events discussed herein might not occur.

References to our Website Address

References to our website address and domain names throughout this release are for informational purposes only, or to fulfill specific disclosure requirements of the Securities and Exchange Commission’s rules or the New York Stock Exchange Listing Standards. These references are not intended to, and do not, incorporate the contents of our website by reference into this release.

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Sonoco Reports Second Quarter 2026 Results - Page 9

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)

(Dollars and shares in thousands except per share data)

Three Months Ended Six Months Ended

June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025

Net sales $ 1,885,485 $ 1,910,441 $ 3,561,927 $ 3,619,669

Cost of sales 1,493,108 1,504,164 2,823,922 2,859,705

Gross profit 392,377 406,277 738,005 759,964

Selling, general and administrative expenses 200,247 218,775 401,785 427,838

Restructuring/Asset impairment charges, net 1,933 9,752 17,066 23,333

Gain/(Loss) on divestiture of business 2,640 (2,083) 775 (6,266)

Operating profit 192,837 175,667 319,929 302,527

Non-operating pension costs 2,920 2,982 5,416 6,103

Interest expense 45,478 64,367 89,972 120,394

Interest income 4,064 4,122 12,715 11,470

Other expense, net (6,191) (6,559) (18,499) (13,076)

Income from continuing operations before income taxes 142,312 105,881 218,757 174,424

Provision for income taxes 39,551 39,500 49,061 60,647

Income before equity in earnings of affiliates 102,761 66,381 169,696 113,777

Equity in earnings of affiliates, net of tax 2,263 2,270 2,953 4,191

Net income from continuing operations 105,024 68,651 172,649 117,968

Net income from discontinued operations — 424,548 — 429,720

Net income 105,024 493,199 172,649 547,688

Net (income)/loss from continuing operations attributable to noncontrolling interests (130) 224 (154) 164

Net income attributable to Sonoco $ 104,894 $ 493,423 $ 172,495 $ 547,852

Weighted average common shares outstanding – diluted 99,781 99,539 99,748 99,453

Diluted earnings from continuing operations per common share $ 1.05 $ 0.69 $ 1.73 $ 1.19

Diluted earnings from discontinued operations per common share — 4.27 — 4.32

Diluted earnings attributable to Sonoco per common share $ 1.05 $ 4.96 $ 1.73 $ 5.51

Dividends per common share $ 0.54 $ 0.53 $ 1.07 $ 1.05

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Sonoco Reports Second Quarter 2026 Results - Page 10

CONDENSED STATEMENTS OF INCOME FOR DISCONTINUED OPERATIONS (Unaudited)

(Dollars and shares in thousands except per share data)

Three Months Ended Six Months Ended

June 29, 2025 June 29, 2025

Net sales $ — $ 320,678

Cost of sales — 250,854

Gross profit — 69,824

Selling, general, and administrative expenses — 31,607

Restructuring/Asset impairment charges, net

— 426

Gain on divestiture of business 625,773 625,773

Operating profit 625,773 663,564

Other expense, net

— 182

Interest expense — 24,911

Interest income — 281

Income from discontinued operations before income taxes 625,773 638,752

Provision for income taxes 201,225 209,032

Net income from discontinued operations 424,548 429,720

Net income from discontinued operations attributable to noncontrolling interests

— —

Net income attributable to discontinued operations $ 424,548 $ 429,720

Weighted average common shares outstanding – diluted 99,539 99,453

Diluted earnings from discontinued operations per common share $ 4.27 $ 4.32

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Sonoco Reports Second Quarter 2026 Results - Page 11

FINANCIAL SEGMENT INFORMATION (Unaudited)

(Dollars in thousands)

Three Months Ended Six Months Ended

June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025

Net sales:

Consumer Packaging $ 1,241,839 $ 1,227,033 $ 2,338,914 $ 2,293,626

Industrial Paper Packaging 643,646 617,661 1,223,013 1,205,193

Total reportable segments 1,885,485 1,844,694 3,561,927 3,498,819

All Other — 65,747 — 120,850

Net sales $ 1,885,485 $ 1,910,441 $ 3,561,927 $ 3,619,669

Operating profit:

Consumer Packaging $ 151,705 $ 160,353 $ 277,354 $ 301,124

Industrial Paper Packaging 89,379 85,934 158,625 162,265

Segment operating profit 241,084 246,287 435,979 463,389

All Other — 8,406 — 15,125

Corporate

Restructuring/Asset impairment charges, net (1,933) (9,752) (17,066) (23,333)

Amortization of acquisition intangibles (45,570) (44,193) (89,890) (86,154)

Gain/(Loss) on divestiture of business 2,640 (2,083) 775 (6,266)

Acquisition, integration, and divestiture-related costs (2,083) (11,161) (8,421) (38,427)

Other operating charges, net (1,301) (11,837) (1,448) (21,807)

Operating profit $ 192,837 $ 175,667 $ 319,929 $ 302,527

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Sonoco Reports Second Quarter 2026 Results - Page 12

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

(Dollars in thousands)

Six Months Ended

June 28, 2026 June 29, 2025

Net income $ 172,649 $ 547,688

Net loss/(gain) on divestiture of business, disposition of assets, and asset impairments 4,248 (612,543)

Depreciation and amortization

256,125 250,967

Pension and postretirement plan contributions, net of non-cash expense (2,556) (1,727)

Changes in working capital (301,117) (263,420)

Changes in tax accounts (98,182) 142,031

Other operating activity (98,475) (77,649)

Net cash used by operating activities (67,308) (14,653)

Purchases of property, plant and equipment, net (123,873) (186,393)

Proceeds from the sale of business, net1

(13,076) 1,814,930

Cost of acquisitions, net of cash acquired2

— 16,528

Net debt proceeds/(repayments) 116,078 (1,668,876)

Cash dividends (105,790) (103,558)

Payments for share repurchases (7,011) (10,576)

Other (outflow)/inflow, including effects of exchange rates on cash (8,770) 39,338

Net decrease in cash and cash equivalents (209,750) (113,260)

Cash and cash equivalents at beginning of period 378,398 443,060

Cash and cash equivalents at end of period $ 168,648 $ 329,800

12026 includes payments of $15,211 and $1,865 to the buyers of TFP and ThermoSafe, respectively, for final net working capital settlements on these 2025 divestitures.

22025 includes a cash receipt of $16,528 for the final net working capital settlement related to the 2024 acquisition of Eviosys.

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Sonoco Reports Second Quarter 2026 Results - Page 13

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(Dollars in thousands)

June 28, 2026 December 31, 2025

Assets

Current Assets:

Cash and cash equivalents $ 168,648 $ 378,398

Trade accounts receivable, net of allowances 1,011,392 842,810

Other receivables 184,121 178,755

Inventories, net 1,255,419 1,121,009

Prepaid expenses 167,778 125,352

Total Current Assets 2,787,358 2,646,324

Property, plant and equipment, net 2,707,744 2,797,800

Goodwill 2,463,738 2,511,611

Other intangible assets, net 2,533,392 2,683,474

Right of use asset-operating leases 302,699 307,450

Deferred income taxes and other assets 179,152 215,675

Total Assets $ 10,974,083 $ 11,162,334

Liabilities and Equity

Current Liabilities:

Payable to suppliers, accrued expenses and other payables $ 1,794,492 $ 1,861,904

Notes payable and current portion of long-term debt 968,752 537,952

Accrued taxes 38,583 128,821

Total Current Liabilities 2,801,827 2,528,677

Long-term debt, net of current portion 3,484,464 3,788,973

Noncurrent operating lease liabilities 259,244 263,192

Pension and other postretirement benefits 169,527 177,976

Deferred income taxes and other liabilities 660,498 771,684

Total Liabilities 7,375,560 7,530,502

Total Equity 3,598,523 3,631,832

Total Liabilities and Equity $ 10,974,083 $ 11,162,334

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Sonoco Reports Second Quarter 2026 Results - Page 14

NON-GAAP FINANCIAL MEASURES

The Company’s results, determined in accordance with U.S. generally accepted accounting principles, are referred to as “as reported” or “GAAP” results. The Company uses certain financial performance measures, both internally and externally, that are not in conformity with GAAP (referred to as “non-GAAP financial measures”) to assess and communicate the financial performance of the Company. These non-GAAP financial measures, which are identified using the term “Adjusted” (for example, “Adjusted Operating Profit,” “Adjusted Net Income Attributable to Sonoco,” and “Adjusted Diluted EPS”), reflect adjustments to the Company’s GAAP operating results to exclude amounts, including the associated tax effects where applicable, relating to:

•restructuring/asset impairment charges1;

•acquisition, integration and divestiture-related costs;

•gains or losses from the divestiture of businesses;

•losses from the early extinguishment of debt;

•non-operating pension costs;

•amortization expense on acquisition intangibles;

•changes in last-in, first-out (“LIFO”) inventory reserves;

•certain income tax events and adjustments;

•derivative gains/losses;

•other non-operating income and losses; and

•certain other items, if any.

1Restructuring and restructuring-related asset impairment charges are a recurring item as the Company’s restructuring programs usually require several years to fully implement, and the Company is continually seeking to take actions that could enhance its efficiency. Although recurring, these charges are subject to significant fluctuations from period to period due to the varying levels of restructuring activity, the inherent imprecision in the estimates used to recognize the impairment of assets, and the wide variety of costs and taxes associated with severance and termination benefits in the countries in which the restructuring actions occur.

The Company’s management believes the exclusion of the amounts related to the above-listed items improves the period-to-period comparability and analysis of the underlying financial performance of the business.

In addition to the “Adjusted” results described above, the Company also uses Adjusted EBITDA, Segment Adjusted EBITDA, Segment Adjusted EBITDA Margin, and Net Debt. Adjusted EBITDA is defined as net income excluding the following: interest expense; interest income; provision for income taxes; depreciation and amortization expense; non-operating pension costs; net income/loss attributable to noncontrolling interests; restructuring/asset impairment charges; changes in LIFO inventory reserves; gains/losses from the divestiture of businesses; acquisition, integration and divestiture-related costs; other income; derivative gains/losses; and other non-GAAP adjustments, if any, that may arise from time to time. Segment Adjusted EBITDA is defined as segment operating profit plus depreciation and amortization expense and equity in earnings of affiliates, net of tax. Segment Adjusted EBITDA Margin is defined as Segment Adjusted EBITDA divided by segment net sales. Net Debt is defined as the total of the Company’s short and long-term debt less cash and cash equivalents.

Segment Adjusted EBITDA is reconciled to the closest GAAP measure of segment profitability, segment operating profit as the Company does not calculate net income by segment. Segment operating profit is the measure of segment profit or loss reported to the chief operating decision maker for purposes of making decisions about allocating resources to the segments and assessing their performance in accordance with Accounting Standards Codification 280 - “Segment Reporting,” as prescribed by the Financial Accounting Standards Board.

Segment results, which are reviewed by the Company’s management to evaluate segment performance, do not include the following: restructuring/asset impairment charges; amortization of acquisition intangibles; acquisition, integration and divestiture-related costs; changes in LIFO inventory reserves; gains/losses from the sale of businesses; gains/losses from derivatives; or certain other items, if any, the exclusion of which the Company believes improves the comparability and analysis of the ongoing operating performance of the business. Accordingly, the term “segment operating profit” is defined as the segment’s portion of “operating profit” excluding those items. All other general corporate expenses have been allocated as operating costs to each of the Company’s reportable segments, except for costs related to discontinued operations.

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Sonoco Reports Second Quarter 2026 Results - Page 15

The Company’s non-GAAP financial measures are not calculated in accordance with, nor are they an alternative for, measures conforming to GAAP, and they may be different from non-GAAP financial measures used by other companies. In addition, these non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles.

The Company presents these non-GAAP financial measures to provide investors with information to evaluate Sonoco’s operating results in a manner similar to how management evaluates business performance. The Company consistently applies its non-GAAP financial measures presented herein and uses them for internal planning and forecasting purposes, to evaluate its ongoing operations, and to evaluate the ultimate performance of management and each business unit against plans/forecasts. In addition, these same non-GAAP financial measures are used in determining incentive compensation for the entire management team and in providing earnings guidance to the investing community.

Material limitations associated with the use of such measures include that they do not reflect all period costs included in operating expenses and may not be comparable with similarly named financial measures of other companies. Furthermore, the calculations of these non-GAAP financial measures are based on subjective determinations of management regarding the nature and classification of events and circumstances that the investor may find material and view differently.

To compensate for any limitations in such non-GAAP financial measures, management believes that it is useful in evaluating the Company’s results to review both GAAP information, which includes all of the items impacting financial results, and the related non-GAAP financial measures that exclude certain elements, as described above. Further, Sonoco management does not, nor does it suggest that investors should, consider any non-GAAP financial measures in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Whenever reviewing a non-GAAP financial measure, investors are encouraged to review and consider the related reconciliation to understand how it differs from the most directly comparable GAAP measure.

Free Cash Flow

The Company uses the non-GAAP financial measure of “Free Cash Flow,” which it defines as cash flow from operations minus net capital expenditures. Net capital expenditures are defined as capital expenditures minus proceeds from the disposition of capital assets. Free Cash Flow may not represent the amount of cash flow available for general discretionary use because it excludes non-discretionary expenditures, such as mandatory debt repayments and required settlements of recorded and/or contingent liabilities not reflected in cash flow from operations.

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Sonoco Reports Second Quarter 2026 Results - Page 16

QUARTERLY RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES

The following tables reconcile the Company’s non-GAAP financial measures to their most directly comparable GAAP financial measures in the Company’s Condensed Consolidated Statements of Income for the three-month periods ended June 28, 2026 and June 29, 2025.

Adjusted Operating Profit, Adjusted Income from Continuing Operations Before Income Taxes, Adjusted Provision for Income Taxes, Adjusted Net Income Attributable to Sonoco, and Adjusted Diluted EPS

For the three-month period ended June 28, 2026

Dollars in thousands, except per share data Operating Profit Income from Continuing Operations Before Income Taxes Provision for Income Taxes Net Income Attributable to Sonoco Diluted EPS

As Reported (GAAP) $ 192,837 $ 142,312 $ 39,551 $ 104,894 $ 1.05

Acquisition, integration and divestiture-related costs1

2,083 2,083 (199) 2,282 0.02

Changes in LIFO inventory reserves 1,154 1,154 285 869 0.01

Amortization of acquisition intangibles 45,570 45,570 10,038 35,532 0.36

Restructuring/Asset impairment charges, net 1,933 1,940 17 1,930 0.02

Gain on divestiture of business2

(2,640) (2,640) (650) (1,990) (0.02)

Non-operating pension costs — 2,920 749 2,171 0.02

Net losses from derivatives 254 254 63 191 —

Other adjustments 1,231 1,231 (3,417) 4,648 0.05

Total adjustments 49,585 52,512 6,886 45,633 0.46

Adjusted $ 242,422 $ 194,824 $ 46,437 $ 150,527 $ 1.51

Due to rounding, individual items may not sum appropriately.

1 Acquisition, integration and divestiture-related costs relate primarily to the Company’s December 2024 acquisition of Eviosys.

2 Gain on divestiture of business reflects the gain of $2,640 from the sale of a recycling facility in Savannah, Georgia.

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Sonoco Reports Second Quarter 2026 Results - Page 17

For the three-month period ended June 29, 2025

Dollars in thousands, except per share data Operating Profit Income from Continuing Operations Before Income Taxes Provision for Income Taxes Net Income Attributable to Sonoco Diluted EPS

As Reported (GAAP)1

$ 175,667 $ 105,881 $ 39,500 $ 493,423 $ 4.96

Acquisition, integration and divestiture-related costs2

11,161 11,161 2,120 9,041 0.09

Changes in LIFO inventory reserves 1,193 1,193 291 902 0.01

Amortization of acquisition intangibles 44,193 44,193 9,401 34,792 0.35

Restructuring/Asset impairment charges, net 9,752 9,752 2,197 7,173 0.07

Loss/(Gain) on divestiture of business 2,083 2,083 514 (422,979) (4.25)

Non-operating pension costs — 2,982 761 2,221 0.02

Net losses from derivatives 2,154 2,154 548 1,606 0.02

Other adjustments3

735 735 (9,201) 9,936 0.10

Total adjustments 71,271 74,253 6,631 (357,308) (3.59)

Adjusted $ 246,938 $ 180,134 $ 46,131 $ 136,115 $ 1.37

Due to rounding, individual items may not sum appropriately.

1 Operating profit, income from continuing operations before income taxes, and provision for income taxes exclude results related to discontinued operations of $625,773, $625,773 and $201,225, respectively.

2 Acquisition, integration and divestiture-related costs relate mostly to the Company’s December 2024 acquisition of Eviosys and the divestiture of TFP, which was completed on April 1, 2025.

3 Other adjustments include discrete tax items primarily related to tax rate changes on accumulated other comprehensive income (“AOCI”) and rate differences between non-US jurisdictions related to acquisitions/divestitures.

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Sonoco Reports Second Quarter 2026 Results - Page 18

Adjusted EBITDA1

Three Months Ended

Dollars in thousands June 28, 2026 June 29, 2025

Net income attributable to Sonoco $ 104,894 $ 493,423

Adjustments:

Interest expense 45,478 64,367

Interest income (4,064) (4,122)

Provision for income taxes 39,551 240,725

Depreciation and amortization 131,096 129,475

Non-operating pension costs 2,920 2,982

Net income/(loss) attributable to noncontrolling interests 130 (224)

Restructuring/Asset impairment charges, net 1,933 9,752

Changes in LIFO inventory reserves 1,154 1,193

Gain on divestiture of business (2,640) (623,690)

Acquisition, integration and divestiture-related costs 2,083 11,161

Net loss from derivatives 254 2,154

Other non-GAAP adjustments 1,231 735

Adjusted EBITDA $ 324,020 $ 327,931

1 For the three-month period ended June 29, 2025, adjusted EBITDA is calculated on a total Company basis, including both continuing and discontinued operations.

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Sonoco Reports Second Quarter 2026 Results - Page 19

Segment Adjusted EBITDA and Adjusted EBITDA Margin Reconciliation

For the Three Months Ended June 28, 2026

Dollars in thousands

Consumer

Industrial

Corporate Total

Segment and Total Operating Profit1

$ 151,705 $ 89,379 $ (48,247) $ 192,837

Adjustments:

Depreciation and amortization2

54,675 30,851 45,570 131,096

Other expense, net3

— — (6,191) (6,191)

Equity in earnings of affiliates, net of tax 276 1,987 — 2,263

Restructuring/Asset impairment charges, net4

— — 1,933 1,933

Changes in LIFO inventory reserves5

— — 1,154 1,154

Acquisition, integration and divestiture-related costs6

— — 2,083 2,083

Gain on divestiture of business7

— — (2,640) (2,640)

Net loss from derivatives8

— — 254 254

Other non-GAAP adjustments — — 1,231 1,231

Segment Adjusted EBITDA $ 206,656 $ 122,217 $ (4,853) $ 324,020

Net Sales $ 1,241,839 $ 643,646

Segment Operating Profit Margin 12.2 % 13.9 %

Segment Adjusted EBITDA Margin 16.6 % 19.0 %

1As previously announced, effective January 1, 2026, results for Industrial Plastics, previously included in the All Other group of businesses, are included in the Industrial segment. The Company no longer reports the results of any of its businesses in All Other.

2Included in Corporate is the amortization of acquisition intangibles associated with the Consumer segment of $40,507 and the Industrial segment of $5,063.

3These expenses relate to charges from third-party financial institutions related to our centralized treasury program under which the Company sells certain trade accounts receivables in order to accelerate its cash collection cycle, primarily within the Consumer segment.

4Included in Corporate are restructuring/asset impairment charges associated with the Consumer segment of $(170) and the Industrial segment of $1,237.

5Included in Corporate are changes in LIFO inventory reserves associated with the Consumer segment of $1,143 and the Industrial segment of $11.

6Included in Corporate are acquisition, integration and divestiture-related costs associated with the Consumer segment of $2,631and the Industrial segment of $152.

7Included in Corporate is a gain of $2,640 from the sale of a recycling operation in Savannah, Georgia, part of the Industrial segment.

8Included in Corporate are net losses from derivatives associated with the Consumer segment of $12 and the Industrial segment of $242.

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Sonoco Reports Second Quarter 2026 Results - Page 20

Segment and All Other Adjusted EBITDA and Adjusted EBITDA Margin Reconciliation

For the Three Months Ended June 29, 2025

Excludes results of discontinued operations

Dollars in thousands

Consumer

Industrial All Other Corporate Total

Segment and Total Operating Profit $ 160,353 $ 85,934 $ 8,406 $ (79,026) $ 175,667

Adjustments:

Depreciation and amortization1

52,801 30,711 1,770 44,193 129,475

Other expense, net2

— — — (6,559) (6,559)

Equity in earnings of affiliates, net of tax 170 2,100 — — 2,270

Restructuring/Asset impairment charges, net3

— — — 9,752 9,752

Changes in LIFO inventory reserves4

— — — 1,193 1,193

Acquisition, integration and divestiture-related costs5

— — — 11,161 11,161

Loss on divestiture of business6

— — — 2,083 2,083

Net loss from derivatives7

— — — 2,154 2,154

Other non-GAAP adjustments — — — 735 735

Segment Adjusted EBITDA $ 213,324 $ 118,745 $ 10,176 $ (14,314) $ 327,931

Net Sales $ 1,227,033 $ 617,661 $ 65,747

Segment Operating Profit Margin 13.1% 13.9% 12.8%

Segment Adjusted EBITDA Margin 17.4% 19.2% 15.5%

1Included in Corporate is the amortization of acquisition intangibles associated with the Consumer segment of $38,333, the Industrial segment of $5,655, and the All Other group of businesses of $205.

2These expenses relate to charges from third-party financial institutions related to our centralized treasury program under which the Company sells certain trade accounts receivables in order to accelerate its cash collection cycle, primarily within the Consumer segment.

3Included in Corporate are restructuring/asset impairment charges associated with the Consumer segment of $1,479, the Industrial segment of $8,228, and a gain in the All Other group of businesses of $5.

4Included in Corporate are changes in LIFO inventory reserves associated with the Consumer segment of $1,193.

5Included in Corporate are acquisition, integration and divestiture-related costs associated with the Consumer segment of $1,137 and the Industrial segment of $213.

6Included in Corporate is a loss on divestiture of business of $2,083 associated with the Industrial segment related to the sale of a recycling operation in Asheville, North Carolina.

7Included in Corporate are net losses from derivatives associated with the Consumer segment of $208, the Industrial segment of $1,864, and the All Other group of businesses of $82.

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Sonoco Reports Second Quarter 2026 Results - Page 21

YEAR-TO-DATE RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES

The following tables reconcile the Company’s non-GAAP financial measures to their most directly comparable GAAP financial measures in the Company’s Condensed Consolidated Statements of Income for the six-month periods ended June 28, 2026 and June 29, 2025.

Adjusted Operating Profit, Adjusted Income from Continuing Operations Before Income Taxes, Adjusted Provision for Income Taxes, Adjusted Net Income Attributable to Sonoco, and Adjusted Diluted EPS

For the six-month period ended June 28, 2026

Dollars in thousands, except per share data Operating Profit Income from Continuing Operations Before Income Taxes Provision for Income Taxes

Net Income Attributable to Sonoco

Diluted EPS

As Reported (GAAP) $ 319,929 $ 218,757 $ 49,061 $ 172,495 $ 1.73

Acquisition, integration and divestiture-related costs1

8,421 8,421 1,347 7,074 0.07

Changes in LIFO inventory reserves 5,521 5,521 1,367 4,154 0.04

Amortization of acquisition intangibles 89,890 89,890 19,800 70,090 0.70

Restructuring/Asset impairment charges, net 17,066 17,066 3,505 13,573 0.14

Gain on divestiture of business, net2

(775) (775) (188) (587) (0.01)

Other expense, net3

— 6,592 — 6,592 0.07

Non-operating pension costs — 5,416 1,394 4,022 0.04

Net loss from derivatives 167 167 41 126 —

Other adjustments4

3,027 3,027 10,687 (7,660) (0.07)

Total adjustments 123,317 135,325 37,953 97,384 0.98

Adjusted $ 443,246 $ 354,082 $ 87,014 $ 269,879 $ 2.71

Due to rounding, individual items may not sum appropriately.

1 Acquisition, integration and divestiture-related costs relate primarily to the Company’s December 2024 acquisition of Eviosys and the November 2025 divestiture of ThermoSafe.

2 Gain on divestiture of business, net reflects the gain of $2,640 from the sale of a recycling operation in Savannah, Georgia, partially offset by a charge of $1,865 from the final net working capital settlement related to the November 2025 divestiture of ThermoSafe.

3 Amount relates to certain pre-acquisition liabilities related to the SMP EMEA business.

4 Other adjustments to the provision for income taxes include a benefit of $14,232 related to a provision-to-return adjustment for a retroactive U.S. tax election.

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Sonoco Reports Second Quarter 2026 Results - Page 22

For the six-month period ended June 29, 2025

Dollars in thousands, except per share data Operating Profit Income from Continuing Operations Before Income Taxes Provision for Income Taxes Net Income Attributable to Sonoco Diluted EPS

As Reported (GAAP)1

$ 302,527 $ 174,424 $ 60,647 $ 547,852 $ 5.51

Acquisition, integration and divestiture-related costs2

38,427 38,427 8,757 39,336 0.40

Changes in LIFO inventory reserves 1,755 1,755 433 1,322 0.01

Amortization of acquisition intangibles 86,154 86,154 19,005 66,936 0.67

Restructuring/Asset impairment charges, net 23,333 23,333 5,397 17,888 0.18

Loss/(Gain) on divestiture of business3

6,266 6,266 886 (419,168) (4.21)

Non-operating pension costs — 6,103 1,559 4,544 0.05

Net gains from derivatives (795) (795) (196) (599) (0.01)

Other adjustments4

1,994 1,994 (9,804) 14,844 0.14

Total adjustments 157,134 163,237 26,037 (274,897) (2.77)

Adjusted $ 459,661 $ 337,661 $ 86,684 $ 272,955 $ 2.74

Due to rounding, individual items may not sum appropriately.

1 Operating profit, income from continuing operations before income taxes, and provision for income taxes exclude results related to discontinued operations of $663,564, $638,752, and $209,032, respectively.

2 Acquisition, integration and divestiture related costs relate mostly to the Company’s December 2024 acquisition of Eviosys and the April 2025 divestiture of TFP.

3 Loss/(gain) on divestiture of business primarily consists of the gain on the sale of the Company’s Thermoformed and Flexibles Packaging business, included in “Net income from discontinued operations” in the Company’s Condensed Consolidated Statements of Income.

4 Other adjustments include discrete tax items primarily related to tax rate changes on AOCI and rate differences between non-U.S. jurisdictions related to acquisitions/divestitures.

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Sonoco Reports Second Quarter 2026 Results - Page 23

Adjusted EBITDA1

Six Months Ended

Dollars in thousands June 28, 2026 June 29, 2025

Net income attributable to Sonoco $ 172,495 $ 547,852

Adjustments:

Interest expense 89,972 145,305

Interest income (12,715) (11,751)

Provision for income taxes 49,061 269,679

Depreciation and amortization 256,125 250,967

Non-operating pension costs 5,416 6,103

Non-operating other expense 6,592 —

Net income/(loss) attributable to noncontrolling interests 154 (164)

Restructuring/Asset impairment charges, net

17,066 23,759

Changes in LIFO inventory reserves 5,521 1,755

Gain on divestiture of business (775) (619,507)

Acquisition, integration and divestiture-related costs 8,421 51,103

Other income, net — —

Net loss/(gain) from derivatives 167 (795)

Other non-GAAP adjustments 3,027 1,381

Adjusted EBITDA $ 600,527 $ 665,687

1For the six-month period ended June 29, 2025, Adjusted EBITDA is calculated on a total Company basis, including both continuing and discontinued operations.

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Sonoco Reports Second Quarter 2026 Results - Page 24

The following tables reconcile segment operating profit, the closest GAAP measure of profitability, to segment adjusted EBITDA.

Segment and All Other Adjusted EBITDA and Adjusted EBITDA Margin Reconciliation

For the Six Months Ended June 28, 2026

Excludes results of discontinued operations

Dollars in thousands

Consumer

Industrial

Corporate Total

Segment and Total Operating Profit1

$ 277,354 $ 158,625 $ (116,050) $ 319,929

Adjustments:

Depreciation and amortization2

105,625 60,610 89,890 256,125

Other expense, net3

— — (11,907) (11,907)

Equity in earnings of affiliates, net of tax 274 2,679 — 2,953

Restructuring/Asset impairment charges, net4

— — 17,066 17,066

Changes in LIFO inventory reserves5

— — 5,521 5,521

Acquisition, integration and divestiture-related costs6

— — 8,421 8,421

Gain on divestiture of business7

— — (775) (775)

Net loss from derivatives8

— — 167 167

Other non-GAAP adjustments — — 3,027 3,027

Segment Adjusted EBITDA $ 383,253 $ 221,914 $ (4,640) $ 600,527

Net Sales $2,338,914 $1,223,013

Segment Operating Profit Margin 11.9 % 13.0 %

Segment Adjusted EBITDA Margin 16.4 % 18.1 %

1 As previously announced, effective January 1, 2026, results for Industrial Plastics, previously included in the All Other group of businesses, are included in the Industrial segment. The Company no longer reports the results of any of its businesses in All Other.

2 Included in Corporate is the amortization of acquisition intangibles associated with the Consumer segment of $79,875 and the Industrial segment of $10,015.

3 These expenses relate to charges from third-party financial institutions related to our centralized treasury program under which the Company sells certain trade accounts receivable in order to accelerate its cash collection cycle primarily within the Consumer segment.

4 Included in Corporate are restructuring/asset impairment charges associated with the Consumer segment of $8,937 and the Industrial segment of $7,196.

5 Included in Corporate are changes in LIFO inventory reserves associated with the Consumer segment of $4,996 and the Industrial segment of $525.

6 Included in Corporate are acquisition, integration and divestiture-related costs associated with the Consumer segment of $3,274 and the Industrial segment of $152.

7 Included in Corporate is a gain of $2,640 from the sale of a recycling facility in Savannah, Georgia, part of the Industrial segment, partially offset by a charge of $1,865 from the final net working capital settlement related to the divestiture of ThermoSafe, previously part of the All Other group of businesses.

8 Included in Corporate are net losses from derivatives associated with the Consumer segment of $4 and the Industrial segment of $163.

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Sonoco Reports Second Quarter 2026 Results - Page 25

Segment and All Other Adjusted EBITDA and Adjusted EBITDA Margin Reconciliation

For the Six Months Ended June 29, 2025

Excludes results of discontinued operations

Dollars in thousands

Consumer

Industrial

All Other Corporate Total

Segment and Total Operating Profit $ 301,124 $ 162,265 $ 15,125 $ (175,987) $ 302,527

Adjustments:

Depreciation and amortization1

101,756 59,868 3,500 86,154 251,278

Other expense, net2

— — — (13,076) (13,076)

Equity in earnings of affiliates, net of tax 119 4,072 — — 4,191

Restructuring/Asset impairment charges, net3

— — — 23,333 23,333

Changes in LIFO inventory reserves4

— — — 1,755 1,755

Acquisition, integration and divestiture-related costs5

— — — 38,427 38,427

Loss on divestiture of business6

— — — 6,266 6,266

Net gains from derivatives7

— — — (795) (795)

Other non-GAAP adjustments — — — 1,994 1,994

Segment Adjusted EBITDA $ 402,999 $ 226,205 $ 18,625 $ (31,929) $ 615,900

Net Sales $ 2,293,626 $ 1,205,193 $ 120,850

Segment Operating Profit Margin 13.1 % 13.5 % 12.5 %

Segment Adjusted EBITDA Margin 17.6 % 18.8 % 15.4 %

1Included in Corporate is the amortization of acquisition intangibles associated with the Consumer segment of $74,835, the Industrial segment of $10,920, and All Other of $399.

3Included in Corporate are restructuring/asset impairment charges associated with the Consumer segment of $2,709, the Industrial segment of $20,726, and All Other of $10.

4Included in Corporate are changes in LIFO inventory reserves associated with the Consumer segment of $1,755.

5Included in Corporate are acquisition, integration and divestiture-related costs associated with the Consumer segment of $21,209 and the Industrial segment of $431.

6Included in Corporate are net losses from the divestiture of businesses within the Industrial segment of $6,266, including a loss of $2,083 from the sale of a recycling facility in Asheville, N.C. and losses totaling $4,183 related to the sale of a production facility in France and the entirety of our business in Venezuela.

7Included in Corporate are net gains from derivatives associated with the Consumer segment of $(76), the Industrial segment of $(688), and All Other of $(31).

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Sonoco Reports Second Quarter 2026 Results - Page 26

FREE CASH FLOW

The reconciliation of the GAAP measure “Net cash used by operating activities” to the non-GAAP measure “Free cash flow” is set forth in the table below:

Six Months Ended

June 28, 2026 June 29, 2025

Net cash used by operating activities

$ (67,308) $ (14,653)

Purchases of property, plant and equipment (125,756) (187,483)

Proceeds from the sale of assets, net 1,883 1,090

Net capital expenditures (123,873) (186,393)

Free cash flow $ (191,181) $ (201,046)

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For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.

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- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

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No definition available.

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- Definition

Address Line 1 such as Attn, Building Name, Street Name

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Name of the City or Town

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Code for the postal or zip code

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- Definition

Name of the state or province.

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- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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- Definition

Indicate if registrant meets the emerging growth company criteria.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

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No definition available.

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Two-character EDGAR code representing the state or country of incorporation.

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No definition available.

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- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

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-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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- Definition

Local phone number for entity.

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

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- Definition

Title of a 12(b) registered security.

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-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

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- Definition

Name of the Exchange on which a security is registered.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

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Name:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

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- Definition

Trading symbol of an instrument as listed on an exchange.

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

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