Fourth Quarter 2017 Highlights: • Earned $0.76 per diluted share and $0.87 of adjusted earnings per diluted share. Our effective tax rate was 20.7%, and our adjusted tax rate was 28.4% • Generated net cash provided by operating activities of $494 million and adjusted free cash flow of $271 million • Achieved $80 million in year-over-year productivity and a run rate of $840 million of synergy and performance improvements since the merger. Full Year 2017 and Other Highlights: • Earned $2.77 per diluted share and $2.62 of adjusted earnings per diluted share • Generated net cash provided by operating activities of $1.90 billion ad adjusted free cash flow of $1.22 billion • Achieved $361 million of productivity year-over-year • Continued our portfolio transformation by: • Completing five acquisitions, including the acquisition of Multi Packaging Solutions International Limited (“MPS”). These acquisitions: º Advanced our strategy to provide differentiated, high value-added solutions to our customers and expanded our presence in attractive end markets º Created opportunities for meaningful synergies and performance improvements, and º Increased our vertical integration levels • Selling the Home, Health and Beauty business (“HH&B”) in April 2017. This sale resulted in a pre-tax gain of $193 million and generated net after-tax proceeds of approximately $1 billion. Click Read More below for additional information.
Sonoco (NYSE: SON) today announced it will raise the price for all paperboard tubes and cores by a minimum of 6 percent, effective with shipments in the United States and Canada, on or after March 1, 2022.
“Ongoing market tightness, limited paperboard supply and additional inflationary cost pressures to our primary raw materials (uncoated recycled paperboard and adhesives) make this increase necessary,” said Doug Schwartz, Division Vice President and General Manager, North America Tubes and Cores. “Despite these market and supply chain challenges, we remain committed to maintaining the quality and service that our customers have become accustomed to when working with Sonoco.”