Adjusted operating income increased by 1% for the quarter and 12% for the first half of 2025.
Cash generated from operations was $262 million in the first half, with capital expenditures net of disposals at $193 million.
Food & Industrial Ingredients LATAM segment faced a 5% net sales decline and a 2% decrease in operating income, impacted by Argentina joint venture and macroeconomic headwinds.
Food & Industrial Ingredients U.S./Canada segment net sales fell 6% and operating income declined 18%, materially impacted by a mechanical fire at the Chicago plant causing a $10 million loss.
Gross margin expanded by 230 basis points to 26% in Q2, with gross profit dollars growing 7%.
Ingredion delivered adjusted operating income of $273 million in Q2 2025, the highest quarter 2 in company history, despite a 2% decline in net sales primarily due to pass-through of lower corn costs.
Reported and adjusted operating income for the first half were $547 million and $546 million, up 21% and 12%, respectively.
Texture & Healthful Solutions segment led performance with a 2% net sales increase and a 29% rise in operating income, supported by a 3% increase in net sales volume and 400 basis points margin expansion.
The company repurchased $55 million of common shares and paid $106 million in dividends in the first half.
Year-to-date net sales were approximately $3.6 billion, down 3%, with gross profit dollars up 9% and gross margin up 290 basis points to 25.9%.
Adjusted EBITDA increased 25% to $328 million with margin expansion of 101 basis points to 17.2%, primarily due to productivity improvements and favorable price/cost dynamics.
Adjusted EPS was $1.37, up 7% year-over-year, impacted by higher-than-expected interest expense and favorable price/cost performance.
All other businesses had flat sales at $95 million but adjusted EBITDA declined 8% due to unfavorable mix and price/cost factors partially offset by productivity.
Industrial segment sales decreased 2% to $588 million due to lower volumes and China market exit, but adjusted EBITDA increased 15% to $113 million with margin expansion of 290 basis points.
Interest expense was $0.07 higher than anticipated due to loan amortization fees and higher commercial paper balances.
Sonoco's second quarter 2025 net sales grew 49% to $1.9 billion, driven by the SMP EMEA acquisition, strong volume in the SMP U.S. business, and favorable pricing.
Cash balance at the end of Q2 2025 was $155 million, down $46 million from December 31, 2024, reflecting investments in growth initiatives and higher commodity costs.
Excluding the impairment charge, net loss was $9 million in Q2 2025 versus net income of $26 million in Q2 2024, driven largely by a $25 million decline in pension income due to KRIP strategy changes.
For the first half of 2025, revenue was $510 million, down 1% from $516 million in the prior year period, with gross profit percentage at 19% versus 21% prior year.
Gross profit percentage declined to 19% in Q2 2025 from 22% in Q2 2024, impacted by lower volumes and higher aluminum and manufacturing costs, partially offset by price increases.
Kodak reported Q2 2025 revenue of $263 million, roughly flat compared to $267 million in Q2 2024, with a 1% decline year-over-year and a 3% decline on a constant currency basis.
Net loss for the first half of 2025 was $33 million compared to net income of $58 million in the prior year period, including a $17 million impairment charge.
Operational EBITDA declined to $9 million in Q2 2025 from $12 million in Q2 2024, impacted by lower volumes, higher costs, partially offset by price increases and lower IT and organizational spend.
The company reported a net loss of $26 million in Q2 2025 compared to net income of $26 million in Q2 2024, including a $17 million noncash asset impairment charge.
Dafinchi