Sonoco Products Co. (NYSE:SON) Q4 2019 Earnings Conference Call - Final Transcript

Feb 13, 2020 • 11:00 am ET


Sonoco Products Co. (NYSE:SON) Q4 2019 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by, and welcome to the Fourth Quarter 2019 Sonoco Earnings Conference Call. [Operator Instructions]

I would now like to hand the conference over to your speaker today, Roger Schrum, Vice President of Investor Relations. Please go ahead.

Roger P. Schrum

Thank you, Sara, and good morning, everyone, and welcome to Sonoco's investor conference call to discuss our fourth quarter and full year 2019 financial results. Joining me today are is Howard Coker, President and Chief Executive Officer; Rodger Fuller, Executive Vice President; and Julie Albrecht, Vice President and Chief Financial Officer. A news release reporting our financial results was issued before the market opened today and is available on the Investor Relations website of In addition, we will reference a presentation on our fourth quarter results, which also was posted on our website this morning.

Before we go further, let me remind you that today's call and presentation contains a number of forward-looking statements based on current expectations, estimates and projections. These statements are not guarantees of future performance and are subject to certain risks and uncertainties. Therefore, actual results may differ materially. Furthermore, today's presentation includes the use of non-GAAP financial measures, which management believes provides useful information to investors about the company's financial condition and results of operations. Further information about the company's use of non-GAAP financial measures, including definitions as well as reconciliations of those measures to the most closely related GAAP measure, is also available in the Investor Relations section of our website.

Now with that, I'd like to turn it over to Howard Coker.

R. Howard Coker

Thank you, Roger, and good morning, everyone. Let me start by saying, frankly, how humbled I am to speak to you today as Sonoco's new President and CEO. Before we get into to the business side of things. I did want to first thank Rob Tiede for all he's accomplished during his 20-year career with Sonoco and for leaving the company with a strong leadership team and businesses that are well positioned for success, and we certainly wish him the very best in his retirement. As for me, I couldn't be more excited about our future, and I'm honored to have this opportunity to work alongside our more than 23,000 teammates globally as we embark on our next chapter together. For those of you who are not familiar with me, I've spent my entire 35-year career working across the globe in a wide range of our consumer and industrial businesses.

For the past decade, I've been a member of the company's executive committee and have taken part in helping shape our strategy. I am a believer that great things in business or most of the in life are not done by one person. They're achieved by a team. Sonoco has an experienced leadership group that is focused and committed to ensuring a vibrant future. Our recent success has not been tied to any single individual, but the contributions of our global team. Because of that, I don't