Sonoco (SON) Raises First-Quarter 2023 Financial Guidance

Sonoco Products Company (NYSE: SON), a diversified global packaging leader, today provided updated first-quarter 2023 earnings guidance and announced its earnings release date and investor conference call information.

Sonoco Provides First-Quarter 2023 Financial Update Based on year-to-date results and an updated forecast for the remainder of the first quarter, Sonoco expects first-quarter 2023 base (adjusted) earnings to be in the range of $1.30 to $1.40 per diluted share, which is above the Company’s previously communicated guidance range of $1.15 to $1.25 per diluted share. (See base earnings definition later in this release.) Sonoco anticipates results to be better than previously expected due to improving productivity, lower than expected input costs, and higher demand than forecasted in certain products and end markets.

Information on First Quarter Financial Release Date and Management Conference Call Management will host a conference call and webcast to further discuss these results beginning at 8:30 a.m. ET on Tuesday, May 2, 2023. The press release and management presentation will be issued after the market closes on Monday, May 1, 2023. The live conference call and a corresponding presentation can be accessed via the Company's Investor Relations website at https://investor.sonoco.com. To listen via telephone, please register in advance at https://register.vevent.com/register/BI46f64ef65ca74390b992879f154cc62c. Upon registration, all telephone participants will receive the dial-in number along with a unique PIN number that can be used to access the call. A replay of the conference call and webcast will be archived on the Company's Investor Relations website for at least 30 days.

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