Total Packaging Papers shipments were 207,700 tons, 3.1 percent lower than February 2017. Bag & Sack shipments were down 8.6 percent year-to-date and Multiwall shipments were down 14.5 percent, while Food Wrapping shipments and Converting shipments were both down less than 1 percent. The operating rate for February increased to 88.5 percent from 84.3 percent in January. Inventories were 175,600 tons, up 2.2 percent since January.
http://afandpa.org/media/news/2018/03/16/american-forest-paper-association-releases-february-2018-u.s.-packaging-papers-specialty-packaging-monthly-report
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Third Quarter 2021 Results: Reported Results: For the third quarter 2021, the company recorded earnings from continuing operations of $0.48 per share (diluted) compared to earnings from continuing operations of $2.06 per share (diluted) in the prior year period. The current year earnings from continuing operations before income taxes were $127 million, compared to $376 million in the third quarter of 2020 which included an approximately $280 million net gain on the sale of O-I’s ANZ business unit. Segment Operating Profit1: Third quarter 2021 segment operating profit was $243 million compared to $204 million in the prior year period. While demand for glass containers remains strong, sales volumes (excluding divestitures) declined approximately 1 percent from the prior year. Higher segment operating profit was largely due to higher production levels, as well as strong operating performance and the benefits from the company’s margin expansion initiatives. Cash Flows: Cash provided by continuing operating activities was $306 million in the third quarter 2021, compared to $262 million in the prior year period. Third quarter 2021 free cash flow1 was $213 million compared to $205 million in 2020.
Sonoco announced that its Prepared and Specialty Foods Segment will raise prices for CPET (crystallized polyethylene terephthalate) and PP (polypropylene) thermoformed plastic trays and bowls by 8 percent. The increases will be applied individually, and depending on product category, effective for shipments beginning on February 22, 2021. “These price adjustments are critical to manage continued increases in cost across our business. Thus far, we have offset much of these increased input costs via manufacturing productivity initiatives and supply chain optimization activities, but with continued inflation, we must now pass this cost on to our customers,” said Rolfe Olsen, Segment Vice President – Prepared & Specialty Foods at Sonoco.