Sonoco Products Company · NYSE:SON
Sonoco Products — Q3 2025 Earnings Presentation
25 slides from Sonoco Products's earnings presentation, Oct 23, 2025
Slide 1: Quarterly Financial Review 3rd Quarter 2025
Quarterly Financial Review 3rd Quarter 2025 October 23, 2025
Slide 2: Forward-Looking Statements / Non-GAAP Financial Measures
FORWARD-LOOKING STATEMENTS / NON-GAAP FINANCIAL MEASURES Statements included herein that are not historical in nature, are intended to be, and are hereby identified as “forward-looking statements” for purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amen
Slide 3: Today's Attendees
Today’s Attendees Roger Schrum Howard Coker Rodger Fuller Paul Joachimczyk Head of President and CEO Chief Operating Chief Investor Relations Officer Financial Officer and Communications Interim CEO, Sonoco Metal Packaging EMEA 3
Slide 4: Business Update
Business Update Howard Coker President and Chief Executive Officer 4
Slide 5: Strong SMP & IPP Results Drive Record Quarter
Revenue Q3 2025 Results Q3 Highlights Summary $2.13B Up 57%* • Record top-line and bottom-line results Strong SMP & • Driven by strong Sonoco Metal Packaging and IPP Results Drive Total Adj. Operating Industrial Paper Products results Record Quarter Profit • Despite global macroeconomic pressures $3
Slide 6: Sale of ThermoSafe Signed
Sale of ThermoSafe Signed Transaction Overview ► Up to $725 million consideration ▷ $650 million in cash at closing (13X EV/EBITDA) ▷ $75 million earnout based on 2025 performance ► 2024: ~$240 million in sales; ~$50 million adj. EBITDA * Third quarter total debt less cash and ► Proceeds to reduce d
Slide 7: SMP EMEA Update
SMP EMEA Update Rodger Fuller Chief Operating Officer Interim CEO, Sonoco Metal Packaging EMEA 7
Slide 8: SMP EMEA Update
SMP EMEA Update Future Growth and Cost Reductions • Growing non-seasonal categories • Investing to grow pet food and seafood opportunities in Eastern Europe (2026) • Received new powdered nutrition award (2027) Q3 Results Improved • Active growth pipeline and high conversion rate • Continued focus o
Slide 9: Business Update
Business Update Paul Joachimczyk Chief Financial Officer 9
Slide 10: Q3 Financial Results
Q3 Financial Results Q3 2025 Q3 2024 YOY Change % Net Sales 1 $2,131 $1,355 57% Net Sales 2 $321 Adj. OP 3 $308 $174 78% Adj. EBITDA4 $386 $281 37% Adj. EBITDA Margin (% of Sales) 5 18.1% 16.8% 134bps Adj. EPS6 $1.92 $1.49 29% (Dollars in Millions, Except EPS) 1) Excluding discontinued operations 5)
Slide 11: Cash Flow Generation
Operating Cash Flow ($M) $277M Cash Flow $166 $162 $396 $193 $292 Generation $109 Cash Flow Overview -$208 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3 -25 Q3 Results • Q3 YTD net cash from Operating activities presented source of cash of Gross Capital Investment* ($M) $277M $122 $93 $92 $93 $95 • OCF $29
Slide 12: SMP US Growth, EMEA Acquisition Drives Strong Consumer Results
SMP US Growth, EMEA Acquisition Drives Strong Consumer Results Sales ($M)1 Adj. EBITDA ($M) 2 Consumer Segment: +117% +112% Q3-25 Results $1,438 $260 • U.S. food can units increased 5%, aerosol slightly down (vs strong 2024) $662 $122 18% • Price drove strong performance • Global Rigid Paper Contain
Slide 13: Strong Margin Protection Drives Record Industrial Results
Strong Margin Protection Drives Record Industrial Results Sales ($M) Adj. EBITDA ($M) 0% +21% Industrial Segment: $585 $585 $123 Q3-25 Results $102 • Pricing discipline offset by unfavorable volume/mix 21% 17% • Selling prices increased resulting in favorable price/cost for the segment • Favorable p
Slide 14: Delivering On Cost Savings
Delivering On Costs Savings Sales ($M) Adj. EBITDA ($M) All Other Segment: Q3-25 Results +1% +2% $107 $108 $21 $20 • Announced sale of ThermoSafe to Arsenal Capital Partners • Higher volumes in ThermoSafe partially offset by volume softness in Industrial Plastics 19% 19% • Execution on productivity
Slide 15: Full Year Financial Outlook
$ in Millions (except EPS) 2025 Guidance Full Year Financial Net Revenue $7.8 - $7.9B Outlook Adjusted EBITDA $1.3B - $1.35B Upside/Downside Risk Weaker US Dollar Price/Cost Outlook Adjusted EPS $5.65 - $5.75 Fixed Cost Controls Capital Spending Operating Cash Flow $700M - $750M Sales Volumes NWC vs
Slide 16: Driving Organic Growth
SMP US IPP Successfully drive Purposeful share share gains gain and new product development Driving Organic Growth Reignite Global Growth in Pet Food, Stacked Chips, Powered Nutrition Drive New Products and Seafood and Markets SMP EMEA RPC 16
Slide 17: Completing the Transformation Journey
Completing the Transformation Journey ● Drive SMP EMEA Integration and Synergy Execution ● $40 million to $50 million run-rate savings 2025 ● Line of sight to ~$100 million run-rate savings 2026 ● Close ThermoSafe Divestiture in Q4 ● Lower Cost Structure to Serve ● Further debt paydown to ~3.4X end
Slide 18: Save the Date: 2026 Sonoco Investor Day
SAVE THE DATE 2026 Sonoco Investor Day February 17, 2026 • New York Check sonoco.com/investor for Q4 engagements and more information. 18
Slide 19: Q&A - Roger Schrum
19 Roger Schrum QA Email: roger.schrum@sonoco.com Office Phone: 843-339-6018 Cell Phone: 843-615-8650 & Head of Investor Relations and Communications
Slide 20: Appendix
Appendix Quarter-ending: September 28, 2025 20
Slide 21: EPS Summary | 2025 vs. 2024
EPS Summary | 2025 vs. 2024 Third Quarter Year To Date 2025 2024 2025 2024 GAAP EPS $ 1.23 $ 0.51 $ 6.74 2.09 Addback for: Acquisition, divestiture and integration costs, net 0.07 0.44 0.47 0.64 LIFO Reserve Change - 0.01 0.01 - Acquisition intangibles amortization expense 0.39 0.17 1.06 0.52 Restru
Slide 22: P&L Summary (Adjusted) | Third Quarter: 2025 vs. 2024
P&L Summary (Adjusted) | Third Quarter: 2025 vs. 2024 (Dollars in millions) QTD Better / (Worse) 2025 2024 $ % Net Sales $ 2,131 $ 1,355 $ 776 57.3 % Gross Profit 468 301 167 55.5 % SG&A Expenses, Net of Other Income 159 127 32 25.3 % Operating Profit $ 308 $ 174 $ 135 77.6 % Other non-Operating exp
Slide 23: Sales and Adj. EBITDA Bridge | Third Quarter: 2025 vs. 2024
Sales and Adj. EBITDA Bridge | Third Quarter: 2025 vs. 2024 (Dollars in millions) Sales Consumer Industrial All Other Corporate Total Q3 2024 Sales $662 $585 $107 $0 $1,355 Volume / Mix (26) (15) 2 0 (40) Price 38 26 0 0 64 Acq / Divestitures 716 (14) 0 0 701 FX / Other 49 3 (1) 0 51 Q3 2025 Sales $
Slide 24: Segment Analysis | Third Quarter: 2025 vs. 2024
Segment Analysis | Third Quarter: 2025 vs. 2024 (Dollars in millions) Net Sales (1) Segment Operating Profit (1) 2025 2024 % Chg 2025 2024 % Chg Consumer Packaging $ 1,438 $ 662 117.2% $ 209 $ 96 117.0% Industrial Paper Packaging 585 585 (0.0)% 90 70 28.0% All Other 108 107 0.6% 18 17 4.9% Total Son
Slide 25: Balance Sheet
Balance Sheet (Dollars in millions) September 28, 2025 December 31, 2024 Change $ Cash and cash equivalents $ 245 $ 431 (186) Trade accounts receivable, net of allowances 1,092 908 185 Other receivables 200 176 24 Inventories, net 1,160 1,016 144 Prepaid expenses 137 197 (60) Assets Held for Sale 32
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