Sonoco 10-Q Details $828.9M Goodwill Impairment and New Russia Asset Seizure
SON sits 26% above its 52-week low of $38.65.
Summary
Sonoco's Q3 10-Q quantifies the $828.9 million goodwill impairment behind its $732 million quarterly loss and discloses that Russia seized control of its Eviosys-acquired metal packaging assets on October 16.
Key Events · Earnings and Guidance · SON
-
Q3 Loss Driven by Goodwill Write-Down
GAAP net loss attributable to Sonoco was $732.1 million, or $7.36 per diluted share, versus income of $122.9 million a year earlier, primarily from $828.9 million of non-cash goodwill impairment with no tax benefit.
-
Impairment Split and Drivers
$802.0 million hit the Consumer Packaging EMEA/APAC unit and $26.9 million the Global Paper Products APAC unit; management cited tighter EU steel import quotas, higher tinplate costs and adverse 2026 harvest weather.
-
Further Impairment Risk Remains
After the charge, Consumer Packaging EMEA/APAC fair value only approximates carrying value, and Global Paper Products Europe holds $124.2 million of goodwill with fair value 22.2% above carrying value.
-
Russia Seizes Metal Packaging Assets
An October 16, 2026 decree placed Eviosys-acquired Russian operations under temporary state administration; Sonoco is assessing possible impairment or deconsolidation. Russia was about 1.1% of nine-month net sales and 0.7% of total assets.
Analysis · SON · Manufacturing
The headline Q3 loss was already public on October 21, but the 10-Q fills in what drove it: $802.0 million of goodwill written off in Consumer Packaging EMEA/APAC and $26.9 million in Global Paper Products APAC, blamed on restrictive European steel import quotas, higher tinplate costs and a poor European harvest. The EMEA/APAC unit's fair value now only approximates carrying value, so another charge is possible if results slip. Separately, Sonoco disclosed that on October 16 the Russian government placed its Eviosys-acquired metal packaging assets under temporary state administration — a small piece of the business (about 1.1% of nine-month sales) but one that could force further impairment or deconsolidation. Adjusted EPS of $1.67 and sales of $2.04 billion were the miss already reported; the balance sheet shows $4.29 billion of total debt after the September refinancing.
How filings like this one have moved
In the 30 days to Oct 29, 2026, 31.1% of the 1661 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, SON was trading at $48.75 on NYSE in the Manufacturing sector, with a market capitalization of approximately $4.8B. The 52-week trading range was $38.65 to $60.67. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.