What changed in this filing

/stocks — the workspaceLOADING

Item 1. Financial Statements

2026-07-28 compared with 2026-04-28 · 376 added, 187 removed, 913 unchanged (38% of the section changed)

39 unchanged sentences

98,869 and 98,634 shares issued and outstanding

at March 29, 2026 and December 31, 2025, respectively

at June 28, 2026 and December 31, 2025, respectively

Capital in excess of stated value 197,408 191,855

10 unchanged sentences

(Dollars and shares in thousands except per share data)

Three Months Ended

March 29, 2026 March 30, 2025

Three Months Ended Six Months Ended

June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025

Net sales $ 1,885,485 $ 1,910,441 $ 3,561,927 $ 3,619,669

3 unchanged sentences

Restructuring/Asset impairment charges, net 1,933 9,752 17,066 23,333

Loss on divestiture of business ( 1,865 ) ( 4,183 )

Gain/(Loss) on divestiture of business 2,640 ( 2,083 ) 775 ( 6,266 )

Operating profit 192,837 175,667 319,929 302,527

10 unchanged sentences

Net income 105,024 493,199 172,649 547,688

Net income from continuing operations attributable to noncontrolling interests ( 24 ) ( 60 )

Net (income)/loss from continuing operations attributable to noncontrolling interests ( 130 ) 224 ( 154 ) 164

Net income attributable to Sonoco $ 104,894 $ 493,423 $ 172,495 $ 547,852

16 unchanged sentences

(Dollars in thousands)

Three Months Ended

March 29, 2026 March 30, 2025

Three Months Ended Six Months Ended

June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025

Net income $ 105,024 $ 493,199 $ 172,649 $ 547,688

6 unchanged sentences

Comprehensive income 59,947 836,910 67,595 1,069,539

Net income from continuing operations attributable to noncontrolling interests ( 24 ) ( 60 )

Other comprehensive loss attributable to noncontrolling interests 282 25

Net (income)/loss from continuing operations attributable to noncontrolling interests ( 130 ) 224 ( 154 ) 164

Other comprehensive loss/(income) attributable to noncontrolling interests 361 ( 1,779 ) 643 ( 1,754 )

Comprehensive income attributable to Sonoco $ 60,178 $ 835,355 $ 68,084 $ 1,067,949

22 unchanged sentences

March 29, 2026 $ 3,586,367 98,869 $ 7,175 $ 191,477 $ ( 22,491 ) $ 3,392,513 $ 17,693

Net income 105,024 104,894 130

Other comprehensive (loss)/income:

Translation loss ( 49,562 ) ( 49,201 ) ( 361 )

Defined benefit plan adjustment, net of tax 3,571 3,571

Derivative financial instruments, net of tax 914 914

Other comprehensive loss ( 45,077 ) ( 44,716 ) ( 361 )

Dividends ( 53,722 ) ( 53,722 )

Issuance of stock awards 336 — 336

Shares repurchased ( 57 ) — ( 57 )

Share-based compensation 5,731 5,731

Other ( 79 ) ( 79 )

June 28, 2026 $ 3,598,523 98,869 $ 7,175 $ 197,408 $ ( 67,207 ) $ 3,443,685 $ 17,462

Total Equity Common Shares Capital in

1 unchanged sentence

Comprehensive

Loss Retained

(Loss)/Income Retained

Earnings Noncontrolling

14 unchanged sentences

March 30, 2025 $ 2,461,932 98,628 $ 7,175 $ 178,778 $ ( 324,569 ) $ 2,586,794 $ 13,754

Net income/(loss) 493,199 493,423 ( 224 )

Other comprehensive income:

Translation gain 339,452 337,673 1,779

Defined benefit plan adjustment, net of tax 2,935 2,935

Derivative financial instruments, net of tax 1,324 1,324

Other comprehensive income 343,711 341,932 1,779

Dividends ( 52,570 ) ( 52,570 )

Issuance of stock awards 298 — 298

Shares repurchased ( 3 ) — ( 3 )

Share-based compensation 4,145 4,145

Other 121 121

June 29, 2025 $ 3,250,833 98,628 $ 7,175 $ 183,339 $ 17,363 $ 3,027,647 $ 15,309

See accompanying Notes to Condensed Consolidated Financial Statements (unaudited)

2 unchanged sentences

(Dollars in thousands)

Three Months Ended

March 29, 2026 March 30, 2025

Six Months Ended

June 28, 2026 June 29, 2025

Cash Flows from Operating Activities:

5 unchanged sentences

Equity in earnings of affiliates, net of tax ( 2,953 ) ( 4,191 )

Cash dividends from affiliated companies 4,360 5,731

Net loss on disposition of assets 1,397 635

Net loss on divestiture of business 1,865 4,183

Net gain on divestiture of business ( 775 ) ( 619,507 )

Pension and postretirement plan expense 7,841 8,731

Pension and postretirement plan contributions ( 10,397 ) ( 10,458 )

Net decrease in deferred taxes ( 2,801 ) ( 3,720 )

Net increase/(decrease) in deferred taxes 2,516 ( 55,633 )

Change in assets and liabilities, net of effects from acquisitions, divestitures and foreign currency adjustments:

8 unchanged sentences

Purchases of property, plant and equipment ( 125,756 ) ( 187,483 )

Cost of acquisitions, net of cash acquired 1

Proceeds from the sale of business, net 2

2 unchanged sentences

Investments in affiliated companies and other net investing proceeds 4,452 242

Net cash used by investing activities ( 76,107 ) ( 88,582 )

Net cash (used)/provided by investing activities ( 132,497 ) 1,645,307

Cash Flows from Financing Activities:

7 unchanged sentences

Payments for share repurchases ( 7,011 ) ( 10,576 )

Net cash provided by financing activities 302,207 29,589

Net cash provided/(used) by financing activities 7,131 ( 1,776,777 )

Effects of Exchange Rate Changes on Cash ( 17,076 ) 32,863

2 unchanged sentences

Cash and cash equivalents at end of period $ 168,648 $ 329,800

1 The Company paid final net working capital settlements of $ 15,211 and $ 1,865 to the buyers of TFP (as defined in Note 1) and ThermoSafe (as defined in Note 1), respectively.

1 During 2025, the Company received $ 16,528 in a final net working capital settlement related to the acquisition of Eviosys (as defined in Note 4) .

2 During 2026, cash proceeds from the sale of businesses of $ 4,000 were offset by the Company’s payment of final net working capital settlements of $ 15,211 and $ 1,865 to the buyers of TFP (as defined in Note 1) and ThermoSafe (as defined in Note 1), respectively.

See accompanying Notes to Condensed Consolidated Financial Statements (unaudited)

13 unchanged sentences

In the opinion of the management of the Company, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting of only normal recurring adjustments, unless otherwise stated) necessary to state fairly the consolidated financial position, results of operations and cash flows for the interim periods reported herein.

Operating results for the three-month period ended March 29, 2026 are not necessarily indicative of the results that may be expected for the year ending December 31, 2026.

Operating results for the three- and six-month periods ended June 28, 2026 are not necessarily indicative of the results that may be expected for the year ending December 31, 2026.

These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.

8 unchanged sentences

As disclosed in Note 1, the Company completed the sale of TFP on April 1, 2025.

Th e following table presents key components of “Net income from discontinued operations” for the three months ended March 30, 2025:

Three Months Ended

March 30, 2025

Th e following table presents key components of “Net income from discontinued operations” for the three- and six-month periods ended June 29, 2025:

Three Months Ended Six Months Ended

June 29, 2025 June 29, 2025

Net sales $ — $ 320,678

3 unchanged sentences

Restructuring/Asset impairment charges, net — 426

Gain on divestiture of business 625,773 625,773

Operating profit 625,773 663,564

8 unchanged sentences

Weighted average common shares outstanding:

Basic 99,171 99,055

Diluted 99,539 99,453

1 unchanged sentence

Net income attributable to discontinued operations:

Basic $ 4.28 $ 4.34

Diluted $ 4.27 $ 4.32

The following table presents significant cash flow items from discontinued operations for the three months ended March 30, 2025:

Three Months Ended

March 30, 2025

The following table presents significant cash flow items from discontinued operations for the six months ended June 29, 2025:

Six Months Ended

June 29, 2025

Depreciation and amortization (a)

5 unchanged sentences

New Accounting Pronouncements

In November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2024-03, “Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40):

In May 2026, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2026-02, “Environmental Credits and Environmental Credit Obligations (Topic 818),” which establishes specific accounting and disclosure requirements for environmental credits and environmental credit obligations.

The guidance provides recognition, measurement, presentation and disclosure requirements for entities that generate, purchase, receive, or hold environmental credits, as well as entities subject to regulatory compliance programs that may be settled using environmental credits.

Among other provisions, the standard requires certain environmental credits to be recognized as assets based on their intended use, establishes measurement requirements for environmental credit obligations, and requires disclosures related to environmental credits and related obligations.

This guidance is effective for public business entities for annual reporting periods beginning after December 15, 2027, and interim reporting periods within those annual reporting periods, but early adoption is permitted.

The standard should be applied on a retrospective basis through a cumulative-effect adjustment to opening retained earnings as of the beginning of the annual reporting period of adoption.

The Company is currently evaluating the potential impact of adopting this new guidance on its consolidated financial statements and related disclosures.

In November 2024, the FASB issued ASU 2024-03, “Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40):

Disaggregation of Income Statement Expenses,” which requires companies to disclose disaggregated amounts relating to (a) inventory purchases;

9 unchanged sentences

The Company is currently evaluating the potential impact of adopting this new guidance on its consolidated financial statements and related disclosures.

During the three-month period ended March 29, 2026, there were no other newly issued or newly applicable accounting pronouncements that had, or are expected to have, a material impact on the Company’s condensed consolidated financial statements.

Further, at March 29, 2026, there were no other pronouncements pending adoption that are expected to have a material impact on the Company’s condensed consolidated financial statements.

Other than the pronouncements discussed above, there have been no other newly issued or newly applicable accounting pronouncements that have had, or are expected to have, a material impact on the Company’s financial statements.

Acquisitions and Divestitures

The Company did not complete any acquisitions during the three-month periods ended March 29, 2026 and March 30, 2025.

The Company did not complete any acquisitions during the three- and six-month periods ended June 28, 2026 and June 29, 2025.

During the second quarter of 2025, the Company received $ 16,528 in a final working capital settlement related to its December 4, 2024 acquisition of Titan Holdings I B.V.

TFP Divestiture

On April 1, 2025, the Company completed the sale of TFP to Toppan for net cash consideration of $ 1,807,493 paid at closing on a cash-free and debt-free basis.

On April 1, 2025, the Company completed the sale of TFP to Toppan for net cash consideration of $ 1,807,493 paid at closing on a cash-free and debt-free basis and subject to customary adjustments.

This sale was the result of the Company’s continuing evaluation of its business portfolio and was consistent with the Company’s strategic and investment priorities.

In connection with the TFP divestiture, the Company wrote off net assets totaling $ 1,108,560 , reclassified $ 47,955 of cumulative translation adjustment losses from accumulated other comprehensive income/(loss) and incurred transaction fees of $ 25,205 , re sulting in a net pretax gain of $ 625,773 .

The Company recognized a related tax provision of $ 201,225 , for an after-tax gain of $ 424,548 .

The after tax gain is included in “Net income from discontinued operations” in the Company’s Condensed Consolidated Statements of Income for the three- and six-month periods ended June 29, 2025.

SONOCO PRODUCTS COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Dollars and shares in thousands except per share data)

A final working capital settlement of $ 15,211 was paid to Toppan during the first quarter of 2026.

The Company had recorded a liability in this amount in “Accrued expenses and other payables” on its Condensed Consolidated Balance Sheet as of December 31, 2025.

ThermoSafe and Other Divestitures

Other Divestitures

On June 5, 2026, the Company completed the sale of a recycling facility in Savannah, Georgia, part of the Industrial Paper Packaging segment, for net cash proceeds of $ 4,000 .

The Company wrote off net assets totaling $ 1,360 in connection with the sale, including goodwill of $ 538 , re sulting in a gain of $ 2,640 , which is included in “Gain/(Loss) on divestiture of business” in the Company’s Condensed Consolidated Statements of Income.

On November 3, 2025, the Company completed the sale of ThermoSafe to Arsenal for net cash consideration of $ 655,827 paid at closing on a cash-free and debt-free basis and subject to customary adjustments.

A final working capital settlement of $ 1,865 was paid to Arsenal during the first quarter of 2026.

This settlement is included in “Loss on divestiture of business” in the Company’s Condensed Consolidated Statement of Income for the three-month period ended March 29, 2026.

This settlement is included in “Gain/(Loss) on divestiture of business” in the Company’s Condensed Consolidated Statement of Income for the six-month period ended June 28, 2026 .

Transaction fees totaling $ 10,112 were also paid during the first quarter of 2026.

The Company had recorded a liability for these fees in “Accrued expenses and other payables” on its Condensed Consolidated Balance Sheet as of December 31, 2025.

On April 30, 2025, the Company completed the sale of a recycling facility in Asheville, North Carolina, part of the Industrial Paper Packaging segment, for cash proceeds of $ 3,924 .

The sale resulted in a loss of $ 2,083 , which is included in “Gain/(Loss) on divestiture of business” in the Company’s Condensed Consolidated Statements of Income.

On March 2, 2025, the Company completed the sale of its tube and core operations in Venezuela, part of the Industrial Paper Packaging segment, in exchange for a receivable in the amount of $ 145 .

The sale resulted in a loss of $ 5,390 , including $ 3,792 of cumulative translation losses that were reclassified from accumulated other comprehensive income.

This loss is included in “Loss on divestiture of business” in the Company’s Condensed Consolidated Statements of Income.

This loss is included in “Gain/(Loss) on divestiture of business” in the Company’s Condensed Consolidated Statements of Income.

In February 2025, the remaining $ 2,000 of proceeds from the July 1, 2023 sale of the Company’s U.S.

BulkSak business were released to the Company from escrow.

On January 17, 2025, the Company completed the sale of a small construction tube operation in France, part of the Industrial Paper Packaging segment, for cash proceeds of $ 1,513 and recognized a gain of $ 1,207 , which is included in “Loss on divestiture of business” in the Company’s Condensed Consolidated Statements of Income.

SONOCO PRODUCTS COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Dollars and shares in thousands except per share data)

On January 17, 2025, the Company completed the sale of a small construction tube operation in France, part of the Industrial Paper Packaging segment, for cash proceeds of $ 1,513 and recognized a gain of $ 1,207 , which is included in “Gain/(Loss) on divestiture of business” in the Company’s Condensed Consolidated Statements of Income.

The sales of these operations did not represent a strategic shift for the Company and did not have a major effect on its operations or financial results.

1 unchanged sentence

Acquisition, Integration, and Divestitur e-Related Costs

Acquisition, integration, and divestiture-related costs from continuing operations during the three-month periods ended March 29, 2026 and March 30, 2025 were recorded in the Company’s Condensed Consolidated Statements of Income as follows:

Three Months Ended

March 29, 2026 March 30, 2025

Acquisition, integration, and divestiture-related costs from continuing operations during the three- and six-month periods ended June 28, 2026 and June 29, 2025 were recorded in the Company’s Condensed Consolidated Statements of Income as follows:

Three Months Ended Six Months Ended

June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025

Cost of sales $ — $ 91 $ — $ 18,041

8 unchanged sentences

The following table sets forth the computation of basic and diluted earnings per share:

Three Months Ended

March 29, 2026 March 30, 2025

Three Months Ended Six Months Ended

June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025

Net income from continuing operations $ 105,024 $ 68,651 $ 172,649 $ 117,968

Net income from continuing operations attributable to noncontrolling interests ( 24 ) ( 60 )

Net (income)/loss from continuing operations attributable to noncontrolling interests ( 130 ) 224 ( 154 ) 164

Net income from continuing operations attributable to Sonoco $ 104,894 $ 68,875 $ 172,495 $ 118,132

17 unchanged sentences

These SARs may become dilutive in the future if the market price of the Company’s common stock appreciates.

The average numbers of SARs that were anti-dilutive and, therefore, not included in the computation of diluted earnings per share during the three-month periods ended March 29, 2026 and March 30, 2025 were as follows (in thousands):

Three Months Ended

March 29, 2026 March 30, 2025

The average numbers of SARs that were anti-dilutive and, therefore, not included in the computation of diluted earnings per share during the three- and six-month periods ended June 28, 2026 and June 29, 2025 were as follows (in thousands):

Three Months Ended Six Months Ended

June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025

Anti-dilutive stock appreciation rights 388 515 392 532

7 unchanged sentences

The Company regularly repurchases shares of its common stock to satisfy employee tax withholding obligations in association with certain share-based compensation awards.

These repurchases, which are not part of a publicly announced plan or program, totaled 132 shares during the three-month period ended March 29, 2026, at a cost of $ 6,954 , and 220 shares during the three-month period ended March 30, 2025, at a cost of $ 10,573 .

These repurchases, which are not part of a publicly announced plan or program, totaled 132 shares during the six-month period ended June 28, 2026, at a cost of $ 7,011 , and 220 shares during the six-month period ended June 29, 2025, at a cost of $ 10,576 .

Dividend Declarations

2 unchanged sentences

On April 15, 2026, the Board declared a regular quarterly dividend of $ 0.54 per share.

This dividend will be paid on

This dividend was paid on

June 10, 2026 to all shareholders of record as of May 8, 2026.

On July 15, 2026, the Board declared a regular quarterly dividend of $ 0.54 per share.

This dividend will be paid on September 10, 2026 to all shareholders of record as of August 10, 2026.

SONOCO PRODUCTS COMPANY

6 unchanged sentences

Set forth below are the total restructuring and asset impairment charges, net of adjustments, recognized during the periods presented:

Three Months Ended

March 29, 2026 March 30, 2025

Three Months Ended Six Months Ended

June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025

Restructuring and restructuring-related asset impairment charges, net

4 unchanged sentences

The table below sets forth restructuring and restructuring-related asset impairment charges by type incurred:

Three Months Ended

March 29, 2026 March 30, 2025

Three Months Ended Six Months Ended

June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025

Severance and Termination Benefits $ ( 886 ) $ 6,367 $ 6,484 $ 13,365

4 unchanged sentences

The table below sets forth restructuring and restructuring-related asset impairment charges attributable to each reportable segment, the All Other group of businesses, and Corporate-related activity:

Three Months Ended

March 29, 2026 March 30, 2025

Three Months Ended Six Months Ended

June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025

Consumer Packaging $ ( 170 ) $ 1,509 $ 8,937 $ 2,738

19 unchanged sentences

Foreign currency translation ( 1,045 ) — 13 ( 1,032 )

Liability at March 29, 2026 $ 52,247 $ — $ 3,513 $ 55,760

“Severance and Termination Benefits” during the three-month period ended March 29, 2026 includes the cost of severance for approximately 105 employees whose positions were eliminated in conjunction with the Company’s ongoing organizational effectiveness efforts, including additional severance charges related to the prior year closure of a metal packaging facility in France, part of the Consumer Packaging segment.

“Asset Impairment/Disposal of Assets” during the three-month period ended March 29, 2026 consists primarily of asset write-offs related to the closure of a metal packaging facility in Ghana, part of the Consumer Packaging segment and additional losses from the sale of assets associated with a previously closed paper mill facility in Greece, part of the Industrial Paper Packaging segment.

“Other Costs” during the three-month period ended March 29, 2026 consists primarily of equipment removal, utilities, plant security, property taxes, and insurance costs related to the prior year closures of metal can facilities in France and Ghana, and the prior year closures of a paper mill in Mexico and partitions facility in California, both part of the Industrial Paper Packaging segment, as well as ongoing facility carrying costs of other previously announced plant closures.

Liability at June 28, 2026 $ 36,625 $ — $ 3,336 $ 39,961

“Severance and Termination Benefits” during the six-month period ended June 28, 2026 includes the cost of severance for approximately 165 employees whose positions were eliminated in conjunction with the Company’s ongoing organizational effectiveness efforts, including additional severance charges related to the prior year closure of a metal packaging facility in France, part of the Consumer Packaging segment.

Credits recognized in the three-month period ended June 28, 2026 represent changes in estimate to the accruals previously recorded for these actions resulting from revisions to the estimates of total severance to be paid.

“Asset Impairment/Disposal of Assets” during the six-month period ended June 28, 2026 consists primarily of asset write-offs related to the closure of a metal packaging facility in Ghana, part of the Consumer Packaging segment and additional losses from the sale of assets associated with a previously closed paper mill facility in Greece, part of the Industrial Paper Packaging segment.

“Other Costs” during the six-month period ended June 28, 2026 consists primarily of equipment removal, utilities, plant security, property taxes, and insurance costs related to the prior year closures of metal can facilities in France and Ghana, and the prior year closures of a paper mill in Mexico and partitions facility in California, both part of the Industrial Paper Packaging segment, as well as ongoing facility carrying costs of other previously announced plant closures.

The Company expects to pay the majority of the remaining restructuring reserves by the end of 2026 using cash generated from operations.

5 unchanged sentences

Accumulated Other Comprehensive (Loss)/Income

The following table summarizes the components of accumulated other comprehensive (loss)/income and the changes in the balances of each component of accumulated other comprehensive (loss)/income, net of tax as applicable, for the three-month periods ended March 29, 2026 and March 30, 2025:

The following table summarizes the components of accumulated other comprehensive (loss)/income and the changes in the balances of each component of accumulated other comprehensive (loss)/income, net of tax as applicable, for the six-month periods ended June 28, 2026 and June 29, 2025:

Pension Items

1 unchanged sentence

Comprehensive

Income/(Loss)

(Loss)/Income

Balance at December 31, 2025 $ 124,227 $ ( 87,958 ) $ 935 $ 37,204

Other comprehensive (loss)/income before reclassifications ( 110,563 ) 2,459 3,377 ( 104,727 )

Amounts reclassified from accumulated other comprehensive loss to net income — 800 ( 282 ) 518

Amounts reclassified from accumulated other comprehensive (loss)/income to net income — 1,851 ( 1,535 ) 316

Other comprehensive (loss)/income ( 110,563 ) 4,310 1,842 ( 104,411 )

Balance at March 29, 2026 $ 62,865 $ ( 87,219 ) $ 1,863 $ ( 22,491 )

Balance at June 28, 2026 $ 13,664 $ ( 83,648 ) $ 2,777 $ ( 67,207 )

Balance at December 31, 2024 $ ( 410,931 ) $ ( 90,613 ) $ ( 1,190 ) $ ( 502,734 )

Other comprehensive income/(loss) before reclassifications 172,072 ( 265 ) 2,024 173,831

Amounts reclassified from accumulated other comprehensive loss to net income 3,792 809 ( 267 ) 4,334

Other comprehensive income before reclassifications 461,790 2,032 4,246 468,068

Amounts reclassified from accumulated other comprehensive (loss)/income to net income 51,747 1,447 ( 1,165 ) 52,029

Other comprehensive income 513,537 3,479 3,081 520,097

Balance at March 30, 2025 $ ( 235,067 ) $ ( 90,069 ) $ 567 $ ( 324,569 )

Balance at June 29, 2025 $ 102,606 $ ( 87,134 ) $ 1,891 $ 17,363

SONOCO PRODUCTS COMPANY

1 unchanged sentence

(Dollars and shares in thousands except per share data)

The following table summarizes the effects on net income of significant amounts reclassified from each component of accumulated other comprehensive loss for the three-month periods ended March 29, 2026 and March 30, 2025:

The following table summarizes the effects on net income of significant amounts reclassified from each component of accumulated other comprehensive (loss)/income for the six-month periods ended June 28, 2026 and June 29, 2025:

Amount Reclassified from Accumulated

Other Comprehensive Loss

Three Months Ended

Other Comprehensive (Loss)/Income

Three Months Ended Six Months Ended

Details about Accumulated Other

Comprehensive

Loss Components March 29,

2026 March 30,

Comprehensive (Loss)/

Income Components June 28,

2026 June 29,

2025 June 28,

2026 June 29,

2025 Affected Line Item in

2 unchanged sentences

Foreign currency items

Currency translation adjustment loss on TFP sale (a)

$ — $ ( 47,955 ) $ — $ ( 47,955 ) Net income from discontinued operations

Currency translation adjustment loss on Venezuela sale (a)

$ — $ ( 3,792 ) Loss on divestiture of business

— — — $ ( 3,792 ) Gain/(Loss) on divestiture of business

— ( 47,955 ) — ( 51,747 ) Net income

10 unchanged sentences

Defined benefit pension items

Effect of curtailment loss (c)

( 60 ) — ( 60 ) — Non-operating pension costs

Effect of settlement loss (c)

( 337 ) — ( 337 ) — Non-operating pension costs

Amortization of defined benefit pension items (c)

10 unchanged sentences

(Dollars and shares in thousands except per share data)

The following table summarizes the before- and after-tax amounts for the various components of other comprehensive (loss)/income for the three-month periods ended March 29, 2026 and March 30, 2025:

Three Months Ended March 29, 2026 Three Months Ended March 30, 2025

The following table summarizes the before- and after-tax amounts for the various components of other comprehensive (loss)/income for the three-month periods ended June 28, 2026 and June 29, 2025:

Three Months Ended June 28, 2026 Three Months Ended June 29, 2025

Benefit After Tax

Amount Before Tax

Benefit After Tax

Benefit/(Expense) After Tax

Foreign currency items:

4 unchanged sentences

Defined benefit pension items:

Other comprehensive (loss)/income before reclassifications ( 77 ) 16 ( 61 ) ( 346 ) 81 ( 265 )

Other comprehensive income/(loss) before reclassifications 3,504 ( 984 ) 2,520 3,025 ( 728 ) 2,297

Amounts reclassified from accumulated other comprehensive (loss)/income to net income (b)

7 unchanged sentences

( 1,575 ) 322 ( 1,253 ) ( 1,217 ) 319 ( 898 )

Net other comprehensive income/(loss) from cash flow hedges

Net other comprehensive income from cash flow hedges 523 391 914 1,311 13 1,324

Other comprehensive (loss)/income $ ( 40,530 ) $ ( 4,186 ) $ ( 44,716 ) $ 294,405 $ 47,527 $ 341,932

(a) See Note 4 for additional details.

(b) See Note 13 for additional details.

SONOCO PRODUCTS COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Dollars and shares in thousands except per share data)

The following table summarizes the before- and after-tax amounts for the various components of other comprehensive (loss)/income for the six-month periods ended June 28, 2026 and June 29, 2025:

Six Months Ended June 28, 2026 Six Months Ended June 29, 2025

Benefit After Tax

Amount Before Tax

Benefit After Tax

Foreign currency items:

Other comprehensive (loss)/income before reclassifications $ ( 94,618 ) $ ( 15,945 ) $ ( 110,563 ) $ 403,100 $ 58,690 $ 461,790

Amounts reclassified from accumulated other comprehensive (loss)/income to net income (a)

— — — 51,747 — 51,747

Net other comprehensive (loss)/income from foreign currency items ( 94,618 ) ( 15,945 ) ( 110,563 ) 454,847 58,690 513,537

Defined benefit pension items:

Other comprehensive income/(loss) before reclassifications 3,427 ( 968 ) 2,459 2,679 ( 647 ) 2,032

Amounts reclassified from accumulated other comprehensive (loss)/income to net income (b)

2,471 ( 620 ) 1,851 1,898 ( 451 ) 1,447

Net other comprehensive income/(loss) from defined benefit pension items 5,898 ( 1,588 ) 4,310 4,577 ( 1,098 ) 3,479

Gains and losses on cash flow hedges:

Other comprehensive income/(loss) before reclassifications 4,230 ( 853 ) 3,377 5,243 ( 997 ) 4,246

Amounts reclassified from accumulated other comprehensive (loss)/income to net income (c)

( 2,072 ) 537 ( 1,535 ) ( 1,575 ) 410 ( 1,165 )

Net other comprehensive income/(loss) from cash flow hedges 2,158 ( 316 ) 1,842 3,668 ( 587 ) 3,081

Other comprehensive (loss)/income $ ( 86,562 ) $ ( 17,849 ) $ ( 104,411 ) $ 463,092 $ 57,005 $ 520,097

6 unchanged sentences

Goodwill and Other Intangible Assets

A summary of the changes in goodwill for the three-month period ended March 29, 2026 is as follows:

A summary of the changes in goodwill for the six-month period ended June 28, 2026 is as follows:

Packaging Industrial Paper Packaging Total

Goodwill at December 31, 2025 $ 1,947,991 $ 563,620 $ 2,511,611

Divestitures — ( 538 ) ( 538 )

Foreign currency translation ( 43,769 ) ( 3,566 ) ( 47,335 )

Goodwill at March 29, 2026 $ 1,920,905 $ 561,296 $ 2,482,201

The goodwill balance of the Industrial Paper Packaging segment at December 31, 2025 included $ 55,244 related to Industrial Plastics, previously reported as part of the All Other group of businesses.

Goodwill at June 28, 2026 $ 1,904,222 $ 559,516 $ 2,463,738

The goodwill balance of the Industrial Paper Packaging segment at December 31, 2025 includes $ 55,244 related to Industrial Plastics, previously reported as part of the All Other group of businesses.

See Note 1 for additional information.

Goodwill activity reflected as “Divestitures” above relates to the June 2026 sale of a small recycling business in Savannah, Georgia, part of the Industrial Paper Packaging segment.

S ee Note 4 for additional information.

The Company assesses goodwill for impairment annually during the third quarter, or from time to time when warranted by the facts and circumstances surrounding individual reporting units or the Company as a whole.

3 unchanged sentences

Based on its assessments, the Company concluded that there was no impairment of goodwill for any of its reporting units.

Although no reporting units failed the annual impairment test, in management’s opinion, the goodwill balances of t he Sonoco Metal Packaging (“SMP”) Europe, Middle East and Africa (“EMEA”) and Global Paper Products Asia-Pacific (“APAC”) reporting units are at risk of impairment in the near term if the reporting unit’s operations do not perform in line with management’s expectations, or if there is a negative change in the long-term financial outlook for the reporting unit or in other factors such as the discount rate.

In the case of SMP EMEA, the lower differential between the fair value and carrying value of the reporting unit is due to the acquisition of Titan Holdings I B.V.

in December 2024, at which time the majority of assets and liabilities acquired were recorded at fair value.

The total goodwill associated with the SMP EMEA and Global Paper Products APAC reporting units was $ 1,372,186 and $ 26,976 , respectively, at March 29, 2026.

During the time subsequent to the annual evaluation, and at March 29, 2026, the Company considered whether any events and/or changes in circumstances had resulted in the likelihood that the goodwill of any of its reporting units may have been impaired.

Although no reporting units failed the annual impairment test, in management’s opinion, the goodwill balances of t he Consumer Packaging Europe, Middle East and Africa (“EMEA”)/Asia-Pacific (“APAC”) and Global Paper Products APAC reporting units are at risk of impairment in the near term if the reporting unit’s operations do not perform in line with management’s expectations, or if there is a negative change in the long-term financial outlook for the reporting unit or in other factors such as the discount rate.

In the case of Consumer Packaging EMEA/APAC, the lower differential between the fair value and carrying value of the reporting unit is due to the acquisition of Eviosys in December 2024, at which time the majority of assets and liabilities acquired were recorded at fair value.

The total goodwill associated with the Consumer Packaging EMEA/APAC and Global Paper Products APAC reporting units was $ 1,415,082 and $ 26,346 , respectively, at June 28, 2026.

During the time subsequent to the annual evaluation, and at June 28, 2026, the Company considered whether any events and/or changes in circumstances had resulted in the likelihood that the goodwill of any of its reporting units may have been impaired.

It is management’s opinion that no such events and/or changes in circumstances have occurred.

3 unchanged sentences

Other Intangible Assets

A summary of other intangible assets as of March 29, 2026 and December 31, 2025 is as follows:

A summary of other intangible assets as of June 28, 2026 and December 31, 2025 is as follows:

2026 December 31,

17 unchanged sentences

The Company has no intangible assets with indefinite lives.

Aggregate amortization expense was $ 44,320 and $ 41,961 for the three-month periods ended March 29, 2026 and March 30, 2025, respectively.

Aggregate amortization expense was $ 45,570 and $ 44,193 for the three-month periods ended June 28, 2026 and June 29, 2025, respectively, and $ 89,890 and $ 86,154 for the six-month periods ended June 28, 2026 and June 29, 2025, respectively.

Amortization expense on other intangible assets is expected to total approximately $ 181,200 in 2026, $ 181,200 in 2027, $ 181,200 in 2028, $ 180,400 in 2029 and $ 179,200 in 2030.

6 unchanged sentences

The Company does not enter into any agreements with suppliers regarding their participation in the SCF Programs.

The following table sets forth the balance sheet location and values of the obligations under the Company’s SCF Programs at March 29, 2026 and December 31, 2025:

Balance Sheet Line Item March 29, 2026 December 31, 2025

Payable to suppliers (a)

$ 42,768 $ 53,122

SONOCO PRODUCTS COMPANY

1 unchanged sentence

(Dollars and shares in thousands except per share data)

The following table sets forth the balance sheet location and values of the obligations under the Company’s SCF Programs at June 28, 2026 and December 31, 2025:

Balance Sheet Line Item June 28, 2026 December 31, 2025

Payable to suppliers (a)

$ 37,255 $ 53,122

(a) The payment of these obligations is included in net cash used by operating activities in the Company’s Condensed Consolidated Statements of Cash Flows.

Details of the Company’s debt at March 29, 2026 and December 31, 2025 are as follows:

Details of the Company’s debt at June 28, 2026 and December 31, 2025 are as follows:

2026 December 31, 2025

24 unchanged sentences

Borrowings under the Term Loan Facility, net of any prepayments, will become payable in full on the second anniversary of the Funding Date (as defined in the Term Credit Agreement) and will bear interest at a fluctuating rate per annum equal to, at the Company’s option, (i) the forward-looking Secured Overnight Financing Rate term rate (such borrowings, “Term SOFR Loans”), (ii) a base rate (such borrowings, “Base Rate Loans”), or (iii) a combination thereof, plus, in each case, an applicable margin calculated based on the Company’s credit ratings, ranging from 0.850 % to 1.100 % per annum for Term SOFR Loans and from 0.000 % to 0.100 % per annum for Base Rate Loans.

As of March 29, 2026 , no draws had been made under the Term Loan Facility.

As of June 28, 2026 , no draws had been made under the Term Loan Facility.

The Company maintains a revolving credit facility with total commitments of $ 1,250,000 and a maturity date of May 3, 2029.

The Company’s $ 1,250,000 commercial paper program is supported by the revolving credit facility.

At March 29, 2026 , the Company had $ 344,000 in commercial paper balances outstanding;

accordingly, the committed capacity available for drawdown under its revolving credit facility at March 29, 2026 was $ 906,000 .

At June 28, 2026 , the Company had $ 116,000 in commercial paper balances outstanding;

accordingly, the committed capacity available for drawdown under its revolving credit facility at June 28, 2026 was $ 1,134,000 .

Certain of the Company’s debt agreements impose restrictions with respect to the maintenance of financial ratios and the disposition of assets.

The most restrictive covenants currently require the Company to maintain a minimum level of interest coverage and a minimum level of net worth, as defined in the agreements.

As of March 29, 2026, the Company’s interest coverage and net worth were substantially above the minimum levels required under these covenants.

As of June 28, 2026, the Company’s interest coverage and net worth were substantially above the minimum levels required under these covenants.

SONOCO PRODUCTS COMPANY

3 unchanged sentences

The following table sets forth the carrying amounts and fair values of the Company’s significant financial instruments for which the carrying amount differs from the fair value.

March 29, 2026 December 31, 2025

June 28, 2026 December 31, 2025

Value Carrying

3 unchanged sentences

Cash Flow Hedges

At March 29, 2026 and December 31, 2025, the Company had derivative financial instruments outstanding to hedge anticipated transactions and certain asset and liability related cash flows.

These contracts, w hich have maturities ranging from March 2026 to September 2027, qualify as cash flow hedges under GAAP.

At June 28, 2026 and December 31, 2025, the Company had derivative financial instruments outstanding to hedge anticipated transactions and certain asset and liability related cash flows.

These contracts, w hich have maturities ranging from July 2026 to September 2027, qualify as cash flow hedges under GAAP.

For derivative instruments that are designated and qualify as a cash flow hedge, the gain or loss on the derivative instrument is reported as a component of other comprehensive income and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings and is presented in the same income statement line item as the earnings effect of the hedged item.

2 unchanged sentences

Certain derivative contracts entered into to manage the cost of anticipated purchases of natural gas and aluminum have been designated by the Company as cash flow hedges.

At March 29, 2026, there were no designated natural gas swaps covering anticipated natural gas usage in 2026.

At June 28, 2026, there were no designated natural gas swaps covering anticipated natural gas usage in 2026.

The Company has designated swap contracts covering 6,129 metric tons of aluminum as cash flow hedges.

These contracts represented approximately 49.1 % and 8.1 % of anticipated aluminum usage for 2026 and 2027, respectively.

The fair value of the Company’s commodity cash flow hedges netted to a gain position of $ 3,310 and a gain position of $ 1,683 at March 29, 2026 and December 31, 2025, respectively.

The amount of the gain included in accumulated other comprehensive income at March 29, 2026 expected to be reclassified to the income statement during the next twelve months is $ 3,163 .

The fair value of the Company’s commodity cash flow hedges netted to gain positions of $ 1,433 and $ 1,683 at June 28, 2026 and December 31, 2025, respectively.

The amount of the gain included in accumulated other comprehensive income at June 28, 2026 expected to be reclassified to the income statement during the next twelve months is $ 1,341 .

The Company also has certain natural gas and aluminum derivatives contracts that are not designated as cash flow hedges.

4 unchanged sentences

Foreign Currency Cash Flow Hedges

The Company has entered into forward contracts to hedge certain anticipated foreign currency denominated sales and purchases expected to occur from March 2026 to December 2027.

The net positions of these contracts at March 29, 2026 were as follows (in thousands):

The Company has entered into forward contracts to hedge certain anticipated foreign currency denominated sales and purchases expected to occur from July 2026 to June 2027.

The net positions of these contracts at June 28, 2026 were as follows (in thousands):

Currency Action Quantity

5 unchanged sentences

Turkish lira purchase 43,540

Euro purchase 3,152

Canadian dollar purchase 8,475

US Dollar purchase 6,178

Euro purchase 1,813

Swedish krona sell ( 2,965 )

British pound sell ( 4,873 )

USD purchase 10,281

Euro Contracts

Hungarian forint purchase 5,292,913

Polish zloty sell ( 20,461 )

British pound purchase 3,784

purchase 2,058

US Dollar purchase 4,204

Euro purchase 1,255

USD purchase 6,849

The fair value of foreign currency cash flow hedges related to forecasted sales and purchases netted to a loss position of $( 255 ) and a gain position of $ 49 at March 29, 2026 and December 31, 2025, respectively.

Losses of $( 282 ) are expected to be reclassified from accumulated other comprehensive income to the income statement during the next twelve months.

purchase 1,082

British pound sell ( 3,510 )

Polish zloty sell ( 23,665 )

The fair value of foreign currency cash flow hedges related to forecasted sales and purchases netted to gain positions of $ 1,826 and $ 49 at June 28, 2026 and December 31, 2025, respectively.

Gains of $ 1,826 are expected to be reclassified from accumulated other comprehensive income to the income statement during the next twelve months.

Net Investment Hedge

9 unchanged sentences

The gain or loss on the net investment hedge derivative instruments is included in the “Foreign currency translation” component of “Accumulated other comprehensive (loss)/income” until the net investment is sold, diluted, or liquidated.

Net interest income on the cross-currency swaps totaling $ 10,843 for the three-month period ended March 29, 2026 are excluded from the net investment hedge effectiveness assessment and are recorded in “Interest expense” in the

Net interest income on the cross-currency swaps totaling $ 11,115 and $ 21,958 for the three and six months

SONOCO PRODUCTS COMPANY

1 unchanged sentence

(Dollars and shares in thousands except per share data)

Company’s Condensed Consolidated Statements of Income.

ended June 28, 2026 are excluded from the net investment hedge effectiveness assessment and are recorded in “Interest expense” in the Company’s Condensed Consolidated Statements of Income.

The assumptions used in measuring fair value of the cross-currency swaps are considered level 2 inputs, which are based upon the Euro-to-U.S.

dollar exchange rate market.

The fair value of the Company’s net investment hedges was a loss position of $( 157,150 ) and $( 207,203 ) at March 29, 2026 and December 31, 2025, respectively.

A foreign currency translation loss of $( 117,077 ) (net of income taxes of $ 40,073 ) and a loss of $( 154,366 ) (net of income taxes of $ 52,837 ) were reported as components of “Accumulated other comprehensive (loss)/income” within “Foreign currency items” at March 29, 2026 and December 31, 2025, respectively.

The fair value of the Company’s net investment hedges was a loss position of $( 144,671 ) and $( 207,203 ) at June 28, 2026 and December 31, 2025, respectively.

A foreign currency translation loss of $( 107,780 ) (net of income taxes of $ 36,891 ) and a loss of $( 154,366 ) (net of income taxes of $ 52,837 ) were reported as components of “Accumulated other comprehensive (loss)/income” within “Foreign currency items” at June 28, 2026 and December 31, 2025, respectively.

Non-Designated Derivatives

3 unchanged sentences

The Company routinely enters into forward contracts or swaps to economically hedge the currency exposure of intercompany debt and foreign currency denominated receivables and payables.

The net currency positions of these non-designated contracts at March 29, 2026, were as follows (in thousands):

The net currency positions of these non-designated contracts at June 28, 2026, were as follows (in thousands):

Currency Action Quantity

4 unchanged sentences

Canadian dollar purchase 4,599

US Dollar purchase 211

Euro Contracts

Hungarian forint purchase 797,654

USD sell ( 1,413 )

British pound sell ( 174 )

British pound purchase 5,856

Euro purchase 3,800

US Dollar sell ( 880 )

Polish zloty sell ( 31,912 )

2 unchanged sentences

The Company has entered into non-designated derivative contracts to manage the cost of a nticipated purchases of natural gas and aluminum.

At March 29, 2026, these contracts consisted of natural gas swaps covering approximately 3.1 million metric million British thermal units (“MMBTUs”) and represented approximately 57.5 % of anticipated usage in North America for the remainder of 2026.

At June 28, 2026, these contracts consisted of natural gas swaps covering approximately 3.3 million metric million British thermal units (“MMBTUs”) and represented approximately 69.0 % of anticipated usage in North America for the remainder of 2026.

In addition, the Company held aluminum swap contracts covering 972 metric tons of aluminum.

2 unchanged sentences

(Dollars and shares in thousands except per share data)

The fair value of the Company’s non-designated deriva tives position was a loss of $( 761 ) and $( 1,113 ) at March 29, 2026 and December 31, 2025, respectively.

The following table sets forth the location and fair values of the Company’s derivative instruments at March 29, 2026 and December 31, 2025:

Description Balance Sheet Location March 29, 2026 December 31, 2025

The fair value of the Company’s non-designated deriva tives position was a loss of $( 576 ) and $( 1,113 ) at June 28, 2026 and December 31, 2025, respectively.

The following table sets forth the location and fair values of the Company’s derivative instruments at June 28, 2026 and December 31, 2025:

Description Balance Sheet Location June 28, 2026 December 31, 2025

Derivatives designated as hedging instruments:

2 unchanged sentences

Commodity Contracts Accrued expenses and other payables ( 490 ) —

Commodity Contracts Other Liabilities ( 2 ) —

Foreign Exchange Contracts Prepaid expenses 3,945 1,131

17 unchanged sentences

(Dollars and shares in thousands except per share data)

The following tables set forth the effect of the Company’s derivative instruments on financial performance for the three-month periods ended March 29, 2026 and March 30, 2025, excluding the amount of foreign currency cash flow hedges that were reclassified from accumulated other comprehensive (loss)/income to the carrying value of the capitalized expenditures:

The following tables set forth the effect of the Company’s derivative instruments on financial performance for the three-month periods ended June 28, 2026 and June 29, 2025, excluding the amount of foreign currency cash flow hedges that were reclassified from accumulated other comprehensive (loss)/income to the carrying value of the capitalized expenditures:

Description Amount of Gain or

8 unchanged sentences

Derivatives in Cash Flow Hedging Relationships:

Three-month period ended March 29, 2026

Three-month period ended June 28, 2026

Foreign Exchange Contracts $ 2,527 Net sales $ 137

1 unchanged sentence

Commodity Contracts ( 429 ) Cost of sales 1,447

Three-month period ended March 30, 2025

Three-month period ended June 29, 2025

Foreign Exchange Contracts $ 2,902 Net sales $ 1,368

5 unchanged sentences

Derivatives not Designated as Hedging Instruments:

Three-month period ended March 29, 2026

Three-month period ended June 28, 2026

Commodity Contracts $ ( 824 ) Cost of sales

Foreign Exchange Contracts 2,490 Selling, general and administrative

Three-month period ended March 30, 2025

Three-month period ended June 29, 2025

Commodity Contracts $ ( 1,889 ) Cost of sales

Foreign Exchange Contracts 3,543 Selling, general and administrative

Three-month period ended March 29, 2026 Three-month period ended March 30, 2025

Three-month period ended June 28, 2026 Three-month period ended June 29, 2025

Description Revenue Cost of sales Revenue Cost of sales

2 unchanged sentences

Foreign exchange contracts:

Amount of gain or (loss) reclassified from accumulated other comprehensive loss into net income $ ( 85 ) $ ( 188 ) $ 399 $ ( 41 )

Amount of gain or (loss) reclassified from accumulated other comprehensive (loss)/income into net income $ 137 $ ( 9 ) $ 1,368 $ ( 151 )

Commodity contracts:

3 unchanged sentences

(Dollars and shares in thousands except per share data)

The following tables set forth the effect of the Company’s derivative instruments on financial performance for the six-month periods ended June 28, 2026 and June 29, 2025, excluding the amount of foreign currency cash flow hedges that were reclassified from accumulated other comprehensive (loss)/income to the carrying value of the capitalized expenditures:

Description Amount of Gain or

(Loss) Recognized

Derivatives Location of Gain

Reclassified from

Accumulated OCI

Into Income Amount of Gain or

(Loss) Reclassified

from Accumulated

OCI Into Income

Derivatives in Cash Flow Hedging Relationships:

Six-month period ended June 28, 2026

Foreign Exchange Contracts $ 2,263 Net sales $ 52

Cost of sales ( 197 )

Commodity Contracts 1,967 Cost of sales 2,217

Six-month period ended June 29, 2025

Foreign Exchange Contracts $ 6,153 Net sales $ 1,767

Cost of sales ( 192 )

Commodity Contracts ( 910 ) Cost of sales —

Description Gain or (Loss)

Recognized Location of Gain or (Loss) Recognized in

Income Statement

Derivatives not Designated as Hedging Instruments:

Six-month period ended June 28, 2026

Commodity Contracts $ 480 Cost of sales

Foreign Exchange Contracts 4,187 Selling, general and administrative

Six-month period ended June 29, 2025

Commodity Contracts $ 1,448 Cost of sales

Foreign Exchange Contracts 7,111 Selling, general and administrative

Six-month period ended June 28, 2026 Six-month period ended June 29, 2025

Description Revenue Cost of sales Revenue Cost of sales

Total amount of income and expense line items presented in the Condensed Consolidated Statements of Income $ 52 $ 2,020 $ 1,767 $ ( 192 )

Gain or (loss) on cash flow hedging relationships:

Foreign exchange contracts:

Amount of gain or (loss) reclassified from accumulated other comprehensive (loss)/income into net income $ 52 $ ( 197 ) $ 1,767 $ ( 192 )

Commodity contracts:

Amount of gain reclassified from accumulated other comprehensive (loss)/income into net income $ — $ 2,217 $ — $ —

SONOCO PRODUCTS COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Dollars and shares in thousands except per share data)

Fair Value Measurements

7 unchanged sentences

The following table sets forth information regarding the Company’s financial assets and financial liabilities, excluding retirement and postretirement plan assets, measured at fair value on a recurring basis:

Description March 29, 2026 Assets measured

Description June 28, 2026 Assets measured

at NAV Level 1 Level 2 Level 3

18 unchanged sentences

None of the Company’s financial assets or liabilities are measured at fair value using significant unobservable inputs.

There were no transfers in or out of Level 1 or Level 2 fair value measurements during the three-month period ended March 29, 2026.

There were no transfers in or out of Level 1 or Level 2 fair value measurements during the six-month period ended June 28, 2026.

The Company has an investment in the preferred stock of a nonaffiliated private company.

1 unchanged sentence

Observable price changes would consist of Lev el 2 inputs based on privately negotiated transactions with the nonaffiliated company.

The total investment in p referred stock of $ 21,212 is included in “Other Assets” in the Company’s Condensed Consolidated Balance Sheet as of March 29, 2026.

The total investment in p referred stock of $ 21,212 is included in “Other Assets” in the Company’s Condensed Consolidated Balance Sheet as of June 28, 2026.

SONOCO PRODUCTS COMPANY

3 unchanged sentences

See Note 4 for a discussion of assets acquired and liabilities assumed in acquisitions and sold in dispositions, and Note 6 for a discussion of asset impairments associated with restructuring activities.

The fair value of assets determined based on third-party appraisals and classified as Level 3 measurements due to the use of significant unobservable inputs was not material at March 29, 2026 or December 31, 2025.

The fair value of assets determined based on third-party appraisals and classified as Level 3 measurements due to the use of significant unobservable inputs was not material at June 28, 2026 or December 31, 2025.

Employee Benefit Plans

2 unchanged sentences

The Company also sponsors contributory defined benefit pension plans covering certain of its employees in the United Kingdom, Canada and the Netherlands, and provides postretirement healthcare and life insurance benefits to a limited number of its retirees and their dependents in the United States and Canada, based on certain age and/or service eligibility requirements.

The components of net periodic benefit cost include the following:

Three Months Ended

March 29, 2026 March 30, 2025

The components of net periodic benefit cost/(income) include the following:

Three Months Ended Six Months Ended

June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025

Retirement Plans

4 unchanged sentences

Amortization of net actuarial loss 887 899 1,777 1,887

Effect of curtailment loss 60 — 60 —

Effect of settlement loss 337 — 337 —

Net periodic benefit cost $ 4,059 $ 4,502 $ 7,797 $ 8,802

5 unchanged sentences

Amortization of net actuarial gain ( 86 ) ( 357 ) ( 241 ) ( 571 )

Net periodic benefit cost $ 44 $ 56

Net periodic benefit (income)/cost $ — $ ( 127 ) $ 44 $ ( 71 )

Settlement and Curtailment Charges

The Company recognized settlement ch arges of $ 337 during the six-month period ended June 28, 2026 as a result of payments made to certain participants in the Company’s non-union Canadian pension plan who elected a lump sum distribution option upon retirement.

T he Company also recognized curtailment ch arges of $ 60 during the six-month period ended June 28, 2026 relating to the termination of certain foreign retirement plan participants as a result of plant closures.

Contributions

The Company made aggregate contributions of $ 4,829 and $ 4,223 to its defined benefit retirement and retiree health and life insurance plans during the three-month periods ended March 29, 2026 and March 30, 2025, respectively.

The Company made aggregate contributions of $ 10,397 and $ 10,458 to its defined benefit retirement and retiree health and life insurance plans during the six-month periods ended June 28, 2026 and June 29, 2025, respectively.

The Company expects to make additional aggregate contributions of approximately $ 12,800 to its defined benefit retirement and retiree health and life insurance plans over the remainder of 2026.

The Company’s effective tax rates for the three-month periods ended March 29, 2026 and March 30, 2025 were 12.4 % and 30.9 %, respectively.

SONOCO PRODUCTS COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Dollars and shares in thousands except per share data)

The Company’s effective tax rates for the three- and six-month periods ended June 28, 2026 were 27.8 % and 22.4 %, respectively, and its effective tax rates for the three- and six-month periods ended June 29, 2025 were 37.3 % and 34.8 %, respectively.

The Company’s effective tax rates varied from the U.S.

1 unchanged sentence

jurisdictions and the relative amounts earned in those jurisdictions, state income taxes, and discrete tax adjustments that were not consistent period over period, including the recording of a provision-to-return adjustment for a retroactive U.S.

tax election.

tax election in the first quarter of 2026.

The Company and/or its subsidiaries file federal, state and local income tax returns in the United States and various foreign jurisdictions.

With few exceptions, the Company is no longer subject to income tax examinations by tax authorities for years prior to 2019.

SONOCO PRODUCTS COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Dollars and shares in thousands except per share data)

The Company’s reserve for uncertain tax benefits increased by $ 1,108 from December 31, 2025 to March 29, 2026 due primarily to an increase in reserves related to existing tax positions and the Company’s reassessment of a prior-year tax matter.

The Company’s reserve for uncertain tax benefits increased by $ 108 from December 31, 2025 to June 28, 2026 due primarily to an increase in reserves related to existing tax positions and the Company’s reassessment of a prior-year tax matter, partially offset by a decrease related to the release of a prior year reserve.

Although the Company’s estimate for the potential outcome for any uncertain tax issue is highly judgmental, management believes that any reasonably foreseeable outcomes related to these matters have been adequately provided for.

10 unchanged sentences

The Company further utilizes a portfolio approach by assigning a “short” rate to contracts with lease terms of 10 years or less and a “long” rate for contracts greater than 10 years.

The following table sets forth the balance sheet location and aggregate values of the Company’s lease assets and lease liabilities at March 29, 2026 and December 31, 2025:

Classification Balance Sheet Location March 29, 2026 December 31, 2025

SONOCO PRODUCTS COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Dollars and shares in thousands except per share data)

The following table sets forth the balance sheet location and aggregate values of the Company’s lease assets and lease liabilities at June 28, 2026 and December 31, 2025:

Classification Balance Sheet Location June 28, 2026 December 31, 2025

Operating lease assets Right of Use Asset-Operating Leases $ 302,699 $ 307,450

9 unchanged sentences

Total lease liabilities $ 365,986 $ 370,712

SONOCO PRODUCTS COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Dollars and shares in thousands except per share data)

Certain of the Company’s leases include variable costs.

2 unchanged sentences

Because the right of use assets recorded on the balance sheet were determined based upon factors considered at the commencement date of the leases, subsequent changes in the rate or index that were not contemplated in the right of use asset balances recorded on the balance sheet for certain leases with rate or index-related terms result in variable expenses being incurred when paid during the lease term.

The following table sets forth the components of the Company’s total lease cost for the three-month periods ended March 29, 2026 and March 30, 2025:

Three Months Ended

Lease Cost March 29, 2026 March 30, 2025

The following table sets forth the components of the Company’s total lease cost for the three- and six-month periods ended June 28, 2026 and June 29, 2025:

Three Months Ended Six Months Ended

Lease Cost June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025

Operating lease cost (a) $ 14,667 $ 16,340 $ 29,811 $ 31,824

11 unchanged sentences

See Note 6 for additional information.

The following table sets forth certain lease-related information for the three-month periods ended March 29, 2026 and March 30, 2025:

Three Months Ended

March 29, 2026 March 30, 2025

SONOCO PRODUCTS COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Dollars and shares in thousands except per share data)

The following table sets forth certain lease-related information for the six-month periods ended June 28, 2026 and June 29, 2025:

Six Months Ended

June 28, 2026 June 29, 2025

Cash paid for amounts included in the measurement of lease liabilities:

11 unchanged sentences

Termination reclasses to decrease finance lease liabilities 419 84

SONOCO PRODUCTS COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Dollars and shares in thousands except per share data)

Revenue Recognition

14 unchanged sentences

Contract assets and liabilities are reported in “Other receivables” and “Accrued expenses and other payables,” respectively, in the Company’s Condensed Consolidated Balance Sheets.

March 29, 2026 December 31, 2025

June 28, 2026 December 31, 2025

Contract Assets $ 93,133 $ 77,978

Contract Liabilities ( 44,407 ) ( 58,784 )

Significant changes in the contract assets and liabilities balances during the three-month period ended March 29, 2026 and the year ended December 31, 2025 were as follows:

March 29, 2026 December 31, 2025

SONOCO PRODUCTS COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Dollars and shares in thousands except per share data)

Significant changes in the contract assets and liabilities balances during the six-month period ended June 28, 2026 and the year ended December 31, 2025 were as follows:

June 28, 2026 December 31, 2025

Assets Contract

8 unchanged sentences

Ending Balance $ 93,133 $ ( 44,407 ) $ 77,978 $ ( 58,784 )

SONOCO PRODUCTS COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Dollars and shares in thousands except per share data)

Contract assets represent goods produced without alternative use for which the Company is entitled to payment with margin prior to shipment.

4 unchanged sentences

Contract assets and liabilities are generally short in duration given the nature of products produced by the Company.

The following tables set forth information about revenue disaggregated by primary geographic regions for the three-month periods ended March 29, 2026 and March 30, 2025.

The tables also include a reconciliation of disaggregated revenue with reportable segments.

The Company’s reportable segments are aligned by product nature as disclosed in Note 17 .

As described in Note 1, results for Industrial Plastics, previously included in the All Other group of businesses, are included in the Industrial Paper Packaging segment effective January 1, 2026.

The Company no longer reports the results of any of its businesses in All Other.

Following this realignment, the Company no longer reports the results of any of its businesses in All Other.

P rior year results for the Industrial Paper Packaging segment and the All Other group of businesses have been recast to conform to the new presentation.

Three-month period ended March 29, 2026 Consumer Packaging Industrial Paper Packaging Total

The following tables set forth information about revenue disaggregated by primary geographic regions for the three- and six-month periods ended June 28, 2026 and June 29, 2025.

The tables also include a reconciliation of disaggregated revenue with reportable segments.

The Company’s reportable segments are aligned by product nature as disclosed in Note 17 .

Three-month period ended June 28, 2026 Consumer Packaging Industrial Paper Packaging Total

Primary Geographical Markets:

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Total $ 1,241,839 $ 643,646 $ 1,885,485

Three-month period ended March 30, 2025 Consumer Packaging Industrial Paper Packaging All Other Total

SONOCO PRODUCTS COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Dollars and shares in thousands except per share data)

Three-month period ended June 29, 2025 Consumer Packaging Industrial Paper Packaging All Other Total

Primary Geographical Markets:

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Total $ 1,227,033 $ 617,661 $ 65,747 $ 1,910,441

Six-month period ended June 28, 2026 Consumer Packaging Industrial Paper Packaging Total

Primary Geographical Markets:

United States $ 909,006 $ 775,035 $ 1,684,041

EMEA 1,302,963 210,714 1,513,677

Canada 4,500 42,579 47,079

APAC 61,311 72,845 134,156

Other 61,134 121,840 182,974

Total $ 2,338,914 $ 1,223,013 $ 3,561,927

Six-month period ended June 29, 2025 Consumer Packaging Industrial Paper Packaging All Other Total

Primary Geographical Markets:

United States $ 915,182 $ 769,424 $ 110,195 $ 1,794,801

EMEA 1,274,351 200,905 10,059 1,485,315

Canada 8,269 44,746 — 53,015

APAC 48,314 72,419 596 121,329

Other 47,510 117,699 — 165,209

Total $ 2,293,626 $ 1,205,193 $ 120,850 $ 3,619,669

SONOCO PRODUCTS COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Dollars and shares in thousands except per share data)

Segment Reporting

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P rior year results for the Industrial Paper Packaging segment and the All Other group of businesses have been recast to conform to the new presentation.

SONOCO PRODUCTS COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Dollars and shares in thousands except per share data)

The Company’s chief operating decision maker (“CODM”) is the chief executive officer.

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SEGMENT FINANCIAL INFORMATION

Three-month period ended March 29, 2026 Consumer Packaging Industrial Paper Packaging Total Reportable Segments

Three-month period ended June 28, 2026 Consumer Packaging Industrial Paper Packaging Total Reportable Segments

Sales from external customers $ 1,241,839 $ 643,646 $ 1,885,485

11 unchanged sentences

Other segment disclosures:

Equity in (loss)/earnings of affiliates, net of tax $ ( 2 ) $ 692

Equity in earnings of affiliates, net of tax $ 276 $ 1,987

Depreciation and amortization (6)

6 unchanged sentences

(Dollars and shares in thousands except per share data)

Three-month period ended March 30, 2025 Consumer Packaging Industrial Paper Packaging Total Reportable Segments

Three-month period ended June 29, 2025 Consumer Packaging Industrial Paper Packaging Total Reportable Segments

Sales from external customers $ 1,227,033 $ 617,661 $ 1,844,694

12 unchanged sentences

Other segment disclosures:

Equity in (loss)/earnings of affiliates, net of tax $ ( 51 ) $ 1,972

Equity in earnings of affiliates, net of tax $ 170 $ 2,100

Depreciation and amortization (6)

52,801 30,711

Six-month period ended June 28, 2026 Consumer Packaging Industrial Paper Packaging Total Reportable Segments

Sales from external customers $ 2,338,914 $ 1,223,013 $ 3,561,927

Intersegment sales (1)

5,867 59,519 65,386

2,344,781 1,282,532 3,627,313

Reconciliation of sales

Elimination of intersegment sales ( 65,386 )

Total consolidated sales 3,561,927

Cost of sales (4)

( 1,896,335 ) ( 922,277 )

Other segment items (5)

( 171,092 ) ( 201,630 )

Segment operating profit $ 277,354 $ 158,625 $ 435,979

Other segment disclosures:

Equity in earnings of affiliates, net of tax $ 274 $ 2,679

Depreciation and amortization (6)

105,625 60,610

SONOCO PRODUCTS COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Dollars and shares in thousands except per share data)

Six-month period ended June 29, 2025 Consumer Packaging Industrial Paper Packaging Total Reportable Segments

Sales from external customers $ 2,293,626 $ 1,205,193 $ 3,498,819

Intersegment sales (1)

5,317 55,938 61,255

2,298,943 1,261,131 3,560,074

Reconciliation of sales

Other sales (2)

Elimination of intersegment sales ( 61,352 )

Total consolidated sales 3,619,669

Cost of sales (4)

( 1,843,216 ) ( 907,325 )

Other segment items (5)

( 154,603 ) ( 191,541 )

Segment operating profit $ 301,124 $ 162,265 $ 463,389

Other segment disclosures:

Equity in earnings of affiliates, net of tax $ 119 $ 4,072

Depreciation and amortization (6)

101,756 59,868

Intersegment sales are recorded at a market-related transfer price.

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The following table sets forth the reconciliation of segment operating profit to “Income from continuing operations before income taxes” for the periods presented.

Three Months Ended

March 29, 2026 March 30, 2025

Three Months Ended Six Months Ended

June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025

Segment operating profit $ 241,084 $ 246,287 $ 435,979 $ 463,389

Other operating profits (1)

— 8,406 — 15,125

Unallocated amounts:

2 unchanged sentences

Amortization of acquisition intangibles ( 45,570 ) ( 44,193 ) ( 89,890 ) ( 86,154 )

Loss on divestiture of business ( 1,865 ) ( 4,183 )

Gain/(Loss) on divestiture of business 2,640 ( 2,083 ) 775 ( 6,266 )

Acquisition, integration and divestiture-related costs ( 2,083 ) ( 11,161 ) ( 8,421 ) ( 38,427 )

Changes in LIFO inventory reserves ( 1,154 ) ( 1,193 ) ( 5,521 ) ( 1,755 )

Derivative gains 87 2,949

Derivative (losses)/gains ( 254 ) ( 2,154 ) ( 167 ) 795

Other corporate income/(costs), net (2)

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In 2025, other corporate income/(costs), net represents recurring operating expenses previously allocated to TFP that will remain with Sonoco subsequent to the divestiture.

Primarily consists of highly inflationary accounting in Turkey and other miscellaneous charges in both 2026 and 2025.

Consists of charges related to highly inflationary accounting in Turkey, and other miscellaneous charges, in both 2026 and 2025.

In 2026 and 2025, these expenses relate to charges from third-party financial institutions related to the Company’s centralized treasury program under which the Company sells certain trade accounts receivable in order to accelerate its cash collection cycle, primarily within the Consumer Packaging segment.

2 unchanged sentences

The following table sets forth the reconciliation of other segment disclosures to consolidated totals for the periods presented.

Three Months Ended

March 29, 2026 March 30, 2025

Three Months Ended Six Months Ended

June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025

Equity in earnings of affiliates, net of tax

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Consolidated Total $ 131,096 $ 129,475 $ 256,125 $ 251,278

Other consists of amortization of acquisition intangibles for Sonoco during the three-month periods ended March 29, 2026 and March 30, 2025.

Other also includes depreciation for the All Other group of businesses during the three-month period ended March 30, 2025.

Other consists of amortization of acquisition intangibles for Sonoco during the three- and six-month periods ended June 28, 2026 and June 29, 2025.

Other also includes depreciation for the All Other group of businesses during the three- and six-month periods ended June 29, 2025.

Commitments and Contingencies

8 unchanged sentences

However, the Company does not believe that the resolution of these matters has a reasonable possibility of having a material adverse effect on the Company’s fi nancial statements.

At March 29, 2026 and December 31, 2025, the accruals for these sites totaled $ 1,738 and $ 1,779 , respectively , and are included in “Accrued expenses and other payables” on the Company’s Condensed Consolidated Balance Sheets.

At June 28, 2026 and December 31, 2025, the accruals for these sites totaled $ 1,672 and $ 1,779 , respectively , and are included in “Accrued expenses and other payables” on the Company’s Condensed Consolidated Balance Sheets.

Other Legal Matters

3 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements