Sonoco Products Company (SON) Stock Analysis

Consumer Packaging and Industrial Paper Packaging contributed 65% and 30%, respectively, of Sonoco Products' 2025 net sales across 265 facilities in 37 countries—a footprint significantly reshaped by the December 2024 acquisition of Eviosys, a European food cans, ends and closures manufacturer, for $3.8 billion. Metal cans became the company's largest product group at 45% of 2025 net sales, surpassing rigid paper containers at 20% and tubes and cores at 16%. Approximately 22,000 full-time equivalent employees support the company, with 42% now based in Europe following the Eviosys deal.

Sonoco earns revenue by supplying engineered packaging to consumer staples producers—food, beverage, household, and pharmaceutical—and to industrial end markets including construction, apparel, and home furnishings. The Consumer Packaging segment manufactures metal food cans, aerosol canisters, and rigid paper containers; Industrial Paper Packaging makes paperboard tubes, cores, and uncoated recycled paperboard for folding cartons and laminated structures. Sonoco uses approximately 56% of its self-manufactured paperboard internally and sells the balance to third parties, providing some raw-material cost insulation. The company's 19 paper mills had capacity to produce 1.8 million tons of recycled paperboard annually in 2025. No single customer exceeded 10% of consolidated revenues in 2025, and the top five Consumer Packaging customers accounted for about 23% of that segment's sales. Principal inputs—recovered paper, steel, and aluminum—are purchased from multiple outside sources, but Section 232 tariffs currently impose a 50% duty on most foreign-sourced steel and aluminum, and Sonoco acknowledged it may be unable to maintain cost-sharing or pass-through arrangements with all customers.