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HARTSVILLE, S.C. - Sonoco Products Company (NYSE: SON), a $4.39 billion market cap packaging manufacturer with annual revenues of $5.7 billion, announced Tuesday that Paul Joachimczyk will become Chief Financial Officer effective June 30, 2025. According to InvestingPro analysis, the company currently trades at a high earnings multiple of 54x.
Joachimczyk joins Sonoco from American Woodmark Corporation, where he served as Senior Vice President, Chief Financial Officer and Corporate Secretary. His previous experience includes finance leadership positions at TopBuild Corp., Stanley Black & Decker, and General Electric’s Healthcare and Capital Markets divisions.
Howard Coker, President and Chief Executive Officer of Sonoco, cited Joachimczyk’s experience leading financial functions for multinational publicly traded corporations in a press release statement.
Joachimczyk will replace Jerry Cheatham, who has been serving as Interim Chief Financial Officer since January 6, 2025. Cheatham will remain in his current role through the filing of Sonoco’s second quarter Form 10-Q and assist during the transition before moving to a senior finance leadership position within the company.
Joachimczyk holds a Bachelor of Business Administration degree in accounting from the University of Wisconsin-Milwaukee and is a Certified Public Accountant. He began his career as a financial auditor with Ernst and Young LLP.
Sonoco, founded in 1899, is a packaging company with approximately 23,400 employees working in 285 operations across 40 countries. The company manufactures metal and fiber consumer and industrial packaging products. InvestingPro analysis highlights the company’s impressive 42-year streak of consecutive dividend raises, with a current yield of 4.8%. Discover more insights about Sonoco and 1,400+ other stocks with InvestingPro’s comprehensive research reports.
In other recent news, Sonoco Products Company reported its first-quarter 2025 earnings, which fell short of analysts’ expectations. The company’s adjusted earnings per share (EPS) came in at $1.38, slightly below the forecasted $1.42, while revenue was $1.7 billion, missing the anticipated $2.02 billion. Despite the earnings miss, Sonoco demonstrated significant growth in net sales and adjusted EBITDA, with net sales increasing by 31% year-over-year to $1.7 billion and adjusted EBITDA rising by 38% to $338 million. The company also improved its adjusted EBITDA margin by 170 basis points to 16.6%.
Additionally, Sonoco has successfully reduced its business divisions and repaid a substantial term loan. UBS analysts initiated coverage on Sonoco Products stock with a Neutral rating and a price target of $48, expressing a balanced view on the company’s transition to larger-scale businesses. They noted concerns about growth and EBITDA, particularly in the European food can business, but highlighted an attractive free cash flow yield of approximately 11% for 2026. Sonoco reaffirmed its full-year 2025 guidance, expecting adjusted EPS between $6.00 and $6.20, and aims to achieve net leverage of 3-3.3x by the end of 2026.
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