Sonoco Products Company (NYSE:SON) filed its Form 10-Q for the quarterly period ended September 27, 2026, reporting a net loss of $731,867 thousand attributable to continuing and total operations for the third quarter, driven largely by goodwill, asset impairment, and restructuring charges.

Key Highlights

  • Net loss of $731,867 thousand for the three months ended September 27, 2026, compared to net income of $123,065 thousand in the same period of 2025, according to the filing.
  • Goodwill, asset impairment, and restructuring charges of $856,435 thousand were recorded in the third quarter of 2026, versus $48,388 thousand in the prior-year quarter.
  • Net sales of $2,041,575 thousand for the third quarter of 2026, down from $2,131,108 thousand in the third quarter of 2025.
  • Basic and diluted loss per share of $(7.36) from continuing operations for the three months ended September 27, 2026.
  • Goodwill declined to $1,646,258 thousand as of September 27, 2026, from $2,511,611 thousand at December 31, 2025.
  • 98,875,737 shares of no par value common stock were outstanding as of October 16, 2026.
  • Total assets of $10,134,941 thousand as of September 27, 2026, down from $11,162,334 thousand at December 31, 2025.

Sonoco Q3 2026: Impairment Charges Drive Operating Loss and Balance Sheet Contraction

According to the filing, Sonoco Products Company reported an operating loss of $637,956 thousand for the three months ended September 27, 2026, compared to operating profit of $194,966 thousand in the prior-year quarter. The company disclosed that goodwill, asset impairment, and restructuring charges of $856,435 thousand in the quarter were the primary driver of the swing to a loss position. Net sales for the quarter were $2,041,575 thousand, compared to $2,131,108 thousand for the three months ended September 28, 2025.

For the nine months ended September 27, 2026, the filing reported net sales of $5,603,502 thousand and a net loss attributable to Sonoco of $559,607 thousand, compared to net income of $670,770 thousand for the nine months ended September 28, 2025. The prior-year nine-month period included net income from discontinued operations of $429,720 thousand, which did not recur in the current period. Loss per share from continuing operations on a basic and diluted basis for the nine months ended September 27, 2026 was $(5.63), per the filing.

The condensed consolidated balance sheet as of September 27, 2026 reflected a reduction in goodwill to $1,646,258 thousand from $2,511,611 thousand at December 31, 2025, consistent with the impairment charges recognized during the period. Total Sonoco shareholders' equity declined to $2,801,714 thousand from $3,613,881 thousand at year-end 2025. Cash and cash equivalents stood at $183,101 thousand at September 27, 2026, compared to $378,398 thousand at December 31, 2025. Long-term debt, net of current portion, was reported at $3,781,625 thousand.

What Was Disclosed

Sonoco Products filed its quarterly report for the period ended September 27, 2026, disclosing a third-quarter net loss of $731,867 thousand, impairment and restructuring charges of $856,435 thousand, lower net sales year-over-year, and a significant reduction in total assets and shareholders' equity relative to December 31, 2025.