Sonoco (SON) announces a price increase on the qualities of uncoated recycled cardboard
What’s going on with Sonoco?
Sonoco (SON) today announced plans to implement a price increase of $ 70 per tonne for all grades of uncoated recycled board in the United States and Canada, which will begin with shipments from the 7th September 2021. The company’s shares are trading 0.34% higher at $ 62.82 a share on Monday.
What does this mean for Sonoco?
The price increase comes amid an even tighter market environment, as strong demand in the company’s network of factories in the United States and Canada has resulted in large order books that remain at near historic levels, as well as unprecedented inflationary pressures on papermaking.
Sonoco reported adjusted earnings of 84 cents in the second quarter of 2021. The company improved 6% from the previous year quarter, driven by the benefits of volume / mix growth and productivity improvements , which were apparently offset by a negative price / cost relationship and the impact of the divestiture of the company’s former display and packaging activities.
Sonoco Products Company manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia and Asia.
SON has a Short Term Technical Rank of 60. Find out what that means to you and get the rest of the rank on SON!
Over its more than 100 years of history, Sonoco Products has steadily built up a diverse portfolio of industrial and consumer packaging product offerings such as flexible and rigid plastics, spools and spools, pallets and composite boxes. The company serves a variety of consumer and industrial end markets across North America. Sonoco has been increasing its dividend every year for over 30 years.