Sonoco's net sales for the 2Q 2022 were a record $1.91 billion, compared with last year's 2Q sales of $1.38 billion. This growth was driven by strong pricing performance and continued strong results from the Metal Packaging acquisition. These positive factors were partially offset by the negative impact from foreign currency translation.
GAAP net income in the 2Q 2022 was $131.7 million, or $1.33 per diluted share, compared with a loss of $(334.1) million, or $(3.34) per diluted share, in the 2Q 2021.
GAAP gross profit was $387.0 million in the 2Q 2022 compared to $262.7 million in the same period of 2021. Quarterly gross profit as a percentage of sales was approximately 20% compared to approximately 19% in the 2Q 2021.
For the first six months of 2022, net sales were a record $3.68 billion, up $948.3 million, compared with $2.74 billion in the first six months of 2021. Sales improved approximately 35 percent in the first half of the year driven by strong pricing performance and sales added from the Metal Packaging acquisition. These positive factors were partially offset by the negative impact of foreign exchange and the April 2021 divestiture of the U.S. display and packaging business.
Founded in 1899, Sonocois a global provider of consumer, industrial, healthcare and protective packaging.
