Commenting on the Company’s fourth quarter results, Sonoco President and Chief Executive Officer Jack Sanders said, “Sonoco's results in the fourth quarter were at the mid-point of our guidance as we managed our diversified mix of businesses well. Gross profit margins were essentially flat year-over-year, despite rising raw material costs and a much greater than expected seasonal slowdown in business activity by many of our consumer and industrial customers. The year-over-year improvement in GAAP earnings in the quarter was driven by a net after-tax gain of $49.3 million on the disposal of our blowmolding operations. Compared to the prior-year quarter, the Company's base earnings were negatively impacted by the divestiture, fewer days, negative manufacturing productivity, and higher labor, maintenance and other operating costs. These items were partially offset by benefits from fixed-cost productivity improvements, as well as lower management incentives and pension and post-retirement benefit costs. “Operating profit in our Consumer Packaging segment declined 15.4 percent from the prior-year quarter, due to the negative impact of fewer business days and mix of sales, the blowmolding divestiture, negative productivity, and higher labor, maintenance and other operating costs. click Read More below for additional detail
Sonoco (NYSE:SON), one of the largest diversified global packaging companies, has launched its ClearGuard™ portfolio of flexible packaging, offering the transparency that builds trust with consumers while providing best-in-class barrier properties for product protection.
ClearGuard structures provide a clear alternative to aluminum foil or metalized films – an important differentiator in an age when nearly half of consumers would choose one product over another simply because they can see the product inside its packaging. Crucially, ClearGuard packaging has also been proven to meet or exceed barrier requirements for a variety of growing product categories, including meat snacks, nuts, trail mixes, snack and nutrition bars, cookies and crackers.
“Shoppers want to see the product inside the package, so for products like trail mix, granola and jerky, the challenge is providing transparent packaging while still protecting freshness and quality,” said Marcy Thompson, vice president of marketing & innovation. “ClearGuard packaging has exceptionally low oxygen and water vapor transmission rates to protect the food inside and preserve its shelf life.”
ClearGuard packaging offers several additional benefits to brands and consumers, including exceptional printing and laminating including matte and glossy finish options; superior flex crack resistance and durability; speed to market via Sonoco’s proprietary TEMPO™ Accelerated Shelf Life Modeling; and a competitive value to other clear or opaque film alternatives. You can learn more about ClearGuard packaging at www.sonoco.com/clearguard.
ClearGuard packaging is also ideal for many pet food offerings, including baked, dehydrated, freeze dried and moist food and treats. Samples and additional information will be available at the Global Petfood Forum in Kansas City April 3-5, at Booth #1311. Learn more about Sonoco’s pet care offerings and TEMPO shelf life testing at www.sonoco.com/petfood.