Sonoco's net sales for the 4Q 2019 were $1.3 billion, a decline of $46.8 million, or 3.4%, from last year’s quarter. GAAP net income in the 4Q 2019 was $44.9 million, or $0.44 per diluted share, a decrease of $32.8 million, compared with $77.7 million, or $0.77 per diluted share, in 2018.
Gross profits were $246.9 million in the 4Q 2019, a decline of $7.4 million or 2.9%, compared with $254.3 million in the same period in 2018. Gross profit as a percentage of sales was essentially flat at 18.9%.
FY 2019 net sales were $5.37 billion, a decline of $16.7 million, compared with $5.39 billion in 2018. GAAP net income for 2019 was $291.8 million or $2.88 per diluted share, compared with $313.6 million or $3.10 per diluted share in 2018.
2019 gross profit was a record $1,057.8 million, compared with $1,041 million in 2018. Gross profit as a percentage of sales in 2019 was 19.7%, compared with 19.3% in 2018.
Founded in 1899, Sonoco is a global provider of a variety of consumer packaging, industrial products, protective packaging, and displays and packaging supply chain services.
