Sonoco Products (SON) has provided an announcement.
Sonoco Products Company is set to enhance its operations by consolidating its flexible and thermoforming packaging businesses under the Consumer Packaging segment, a move aimed at streamlining operations and fueling growth. This strategic shift, effective from January 1, 2024, alters the company’s operational and reporting structure, though the Industrial Paper Packaging segment remains untouched by these changes. To better compare past financials with the future structure, Sonoco is recasting prior segment information and maintains that the methodologies for calculating segment results remain consistent. The company emphasizes that these updates are not audited and should be viewed alongside its 2023 filings.
See more data about SON stock on TipRanks’ Stock Analysis page.
