Sonoco reported a $732 million net loss for its third quarter after recording a large goodwill write-down, according to the packaging company’s October 21, 2026 earnings release. Adjusted net income remained positive at $167 million, but that measure also fell from a year earlier. The distinction matters: excluding specified accounting items does not turn the reported loss into an error or make the adjusted figure a substitute for it.
The quarter ended September 27, 2026, rather than September 30. All amounts below are US dollars. Sonoco’s reported financial statements and its reconciliation provide the basis for the comparison.
Sonoco’s reported and adjusted results
| Measure | Current quarter | Comparison or basis | Primary source |
|---|---|---|---|
| Net sales | $2.042 billion | Down 4.2% from $2.131 billion | Sonoco results |
| Reported net result | $732 million loss | Versus $123 million profit a year earlier | GAAP table |
| Reported diluted EPS | $7.36 loss per share | Versus $1.23 earnings per share | GAAP table |
| Goodwill impairment | $829 million | Non-cash charge affecting EMEA/APAC businesses | Impairment explanation |
| Adjusted net income / diluted EPS | $167 million / $1.67 | Non-GAAP; versus $191 million / $1.92 | Reconciliation |
| Quarterly operating cash flow | $285 million | Cash-flow measure, not net income | Cash-flow discussion |
Why the two profit measures differ
The goodwill impairment reduces an asset’s accounting value. Sonoco identifies this charge as non-cash, so it should not be described as $829 million of cash leaving the business in the quarter. That does not mean the charge lacks significance: it affects the reported result and asset values.
GAAP means US generally accepted accounting principles. Sonoco’s adjusted, or non-GAAP, measures remove specified items under its own presentation. The release reconciles them to reported measures. Simply adding the impairment to the reported loss would not reproduce adjusted net income, because taxes and other adjustments also matter. Adjusted EPS fell 13%, showing that the weaker quarter was not solely an impairment headline.
Sales, outlook and the next discussion
Sonoco attributed much of the reported sales decline to the ThermoSafe divestiture; it said sales were broadly unchanged when divestitures were excluded. The company also described pressure from costs and product volumes. These are management’s explanations, not independently measured market drivers.
The revised full-year outlook targets sales of $7.20 billion-$7.40 billion and adjusted diluted EPS of $5.30-$5.50. These are forecasts, not amounts already earned. Sonoco’s separate scheduling notice set the results call for October 22 at 8 a.m. Eastern Time; that notice verifies the timetable, not the quarterly financial figures or completion of the call.
For another example of why reported and adjusted earnings need separate treatment, see CapKet’s Thermo Fisher results report. No share-price reaction or investment recommendation is asserted here.
Recorded source observation: . This is a source-check timestamp, not a market quote or a new article update.