Sonoco Products Co Q3 2023 Earnings Call Summary

Edited Brief of SON.N earnings conference call or presentation 1-Nov-23 12:30pm GMT

...A. Sales came in at $1.71 billion, adjusted EBITDA was $280 million and adjusted earnings per share was $1.46. B. Sales were flat sequentially and generally in line with expectations. C. In consumer, volumes were sequentially higher in most businesses, while metal aerosol can volumes continue to underperform driven by lower end market demand and ongoing customer destocking. D. Our profit results were better than expected from strong productivity and effective cost management by our teams. E. Our productivity results are benefiting from the capital investments we are making across our plant network including automation, process improvements and energy cost reductions. F. We expanded adjusted EBITDA margins to over 16% and delivered strong cash flow during the quarter. G. We achieved these results even while we continue to invest in long-term value-adding projects and R&D initiatives throughout the portfolio. H. We were also pleased to close the RTS Packaging and Chattanooga Paper mill acquisition...

Brief