SONOCO PRODUCTS Reports 10.9% Decrease in Total Revenue for Three Months Ended June 30 2023
August 17, 2023
🌥️Earnings Overview
SONOCO PRODUCTS ($NYSE:SON) reported total revenue of USD 1705.3 million for the three months ended June 30 2023, a 10.9% decrease compared to the same period in the prior year. Additionally, the company’s net income of USD 114.6 million was also down 12.9% year over year for the second quarter of fiscal year 2023.
Analysis
GoodWhale has taken a detailed look at SONOCO PRODUCTS‘ fundamentals and delivered an analysis of the company’s financial and business risk. According to GoodWhale’s Risk Rating, SONOCO PRODUCTS is a medium risk investment. In terms of financial aspects, the company’s income sheet and financial journal have been looked at closely for any warning signs, and two have been detected. If you would like to take a deeper look into the risk warnings for SONOCO PRODUCTS, be sure to register with GoodWhale. Our service is designed to help investors make informed decisions when it comes to assessing the financial and business risks of a particular company. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Sonoco Products. More…
| Total Revenues | Net Income | Net Margin |
| 7k | 482.4 | 6.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Sonoco Products. More…
| Operations | Investing | Financing |
| 673.17 | -341.6 | -194.18 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Sonoco Products. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 7.05k | 4.75k | 23.4 |
Key Ratios Snapshot
Some of the financial key ratios for Sonoco Products are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 10.3% | 10.9% | 10.3% |
| FCF Margin | ROE | ROA |
| 4.7% | 20.1% | 6.4% |
Peers
The company has operations in 34 countries and serves customers in over 85 countries. Sonoco has been in business for over 100 years and is a publicly traded company on the New York Stock Exchange. The company’s competitors include Huhtamaki India Ltd, Huhtamäki Oyj, and Shanghai Xintonglian Packing Co Ltd.
– Huhtamaki India Ltd ($BSE:509820)
Huthamaki India Ltd is a food packaging company with a market cap of 16.63B as of 2022. The company has a return on equity of 2.38%. Huthamaki India Ltd is a leading manufacturer of food packaging products and solutions. The company provides innovative and sustainable packaging solutions for food and beverage products. Huthamaki India Ltd has a strong presence in the Indian market with a wide range of products. The company has a strong commitment to quality and customer satisfaction.
– Huhtamäki Oyj ($LTS:0K9W)
Huhtamäki Oyj is a Finnish packaging company. It is headquartered in Espoo, Finland and has operations in over 40 countries. The company is listed on the Nasdaq Helsinki stock exchange.
Huhtamäki Oyj has a market cap of 3.7B as of 2022. The company has a Return on Equity of 14.22%. Huhtamäki Oyj is a Finnish packaging company. It is headquartered in Espoo, Finland and has operations in over 40 countries. The company is listed on the Nasdaq Helsinki stock exchange.
– Shanghai Xintonglian Packing Co Ltd ($SHSE:603022)
Shanghai Xintonglian Packing Co Ltd is a company that produces and sells packaging products. It has a market cap of 2.02B as of 2022 and a Return on Equity of 3.94%. The company has a wide range of products that include paper bags, plastic bags, and other packaging materials.
Summary
SONOCO PRODUCTS reported total revenue of USD 1705.3 million for the three months ended June 30 2023, a 10.9% year-on-year decrease. Net income also decreased 12.9% year-over-year to USD 114.6 million. As a result of these lower financial results, investing in SNOCO PRODUCTS appears to have decreased in profitability. Investors may want to weigh the potential risk of investing in this company against the potential reward, as it is unclear when or whether the company’s fortunes will improve.
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