Mativ To Showcase Innovative Label Solutions

Sonoco 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, 2021. “This price increase is necessary due to continued increases in costs for uncoated recycled paperboard (URB), our primary raw material. URB demand remains very strong, and the supply in the marketplace is extremely tight,” said Mike Thompson, Director of Sales and Marketing for Sonoco’s North America Tubes and Cores Division.

Highlights - Six Months Ended December 31, 2022 • Net sales of $7,354 million, up 6%; • GAAP Net income of $691 million, up 62%; GAAP diluted earnings per share (EPS) of 46.1 cps, up 65%; • Increasing cash returns to shareholders: quarterly dividend of 12.25 cents per share; and up to $500 million of share repurchases expected in fiscal 2023, including an additional $100 million announced today; and • Fiscal 2023 outlook: Maintaining adjusted EPS and Free Cash Flow ranges at 77-81 cps and $1-1.1 billion, respectively.

Sonoco ThermoSafe and Korean Air announced a global partnership agreement for the leasing of the new Pegasus ULD® temperature controlled bulk shipping container. The agreement enables pharmaceutical freight forwarders access to Pegasus ULD® containers directly from Korean Air. Korean Air and mutual clients will also have access to other Sonoco ThermoSafe containers as part of this agreement. Sonoco ThermoSafe will support this partnership by adding ICN airport to its global service network. Services including ground handling, repairs, and preconditioning of Pegasus ULDs at ICN will be provided through Sonoco ThermoSafe’s global partnership with Unilode. Sonoco ThermoSafe’s Pegasus ULD® is the world’s first FAA and EASA-approved passive bulk temperature-controlled ULD container for pharmaceutical use, which enables it to speed through international air freight handling and customs processes at the lowest possible cost. With a focus on sustainability, the Pegasus is engineered with composite materials, offering a lighter solution that is also substantially more damage-resistant than traditional metal containers. Additionally, the Pegasus ULD® contains a fully integrated, FAA-approved telemetry system, providing real-time, cloud-based data on payload and ambient temperature and key environmental factors, precisely synchronized with GPS location.