Sonoco Products Company (NYSE:SON) Q1 2024 Earnings Call Transcript

Rodger Fuller: Yes. Price cost was we had really strong performance in the businesses. I think they’re doing everything they can to kind of manage price with their customers. Most of these are index-based prices that are causing a little bit of declines, and that was across the board, across consumer. So it was pretty evenly spread. And Q1 is when we experienced metal price overlap, which was $16 million this year, so a little bit down because we’ve been managing the inventory at the end of the year. And they did a really good job kind of managing the timing and the activation around that. So that, that was only $4 million of the $9 million or $10 million that we had in price negative price cost in Q1. We think that will relieve somewhat in Q2 and actually we’ll get some positive price cost in metal, which will give us get us to a modest positive in price costs for consumer in the second quarter, and we expect that to continue through the balance of the year.

Gregory Andreopoulos: Great thank you.

Operator: [Operator Instructions].

Operator: I’m showing no further questions. I would now like to hand the call back to Lisa Weeks for closing remarks.

Lisa Weeks: Thank you all for joining us today. If you have any follow-ups, we’ll be around after the call and please feel free to contact me to like to schedule a follow-up meeting. We also look forward to seeing you on the road at our planned conferences and events in the coming weeks and we look forward to reporting our second quarter results in early August.

Operator: Thank you very much. This concludes today’s call. [Operator Closing Remarks].