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Sonoco, a global packaging manufacturer, has been downgraded to a Zacks Rank #5 (Strong Sell) due to negative EPS revisions and declining earnings outlook. The company faces headwinds from inflation pressures, weaker volumes, and reduced demand.

Q3 revenue dropped 4% year-over-year, adjusted EPS fell 13%, and the company lowered guidance again. A $829 million goodwill impairment charge was also recorded.