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NEW YORK - On Wednesday, Silgan Holdings Inc. (NYSE:SLGN), a leading supplier of rigid packaging solutions, reported a 15% increase in second quarter adjusted earnings per share, driven by strong performance in its dispensing products segment and continued growth in pet food packaging.
The company posted adjusted earnings of $1.01 per share for the second quarter, slightly below analysts’ expectations of $1.03. Revenue rose 11% to $1.54 billion, edging past the consensus estimate of $1.53 billion. Net sales in the Dispensing and Specialty Closures segment reached a record $702.2 million, up 24% from the same period last year.
"Our businesses continued to execute in the second quarter and delivered significant adjusted EPS growth of 15%, driven by increased organic volumes in our key product categories, strong contributions from the successful integration of the Weener acquisition and continued best-in-class operating performance," said Adam Greenlee, President and CEO.
The company’s Metal Containers segment saw a 4% revenue increase to $676.1 million, with mid-single digit growth in volumes for pet food markets. However, specialty closures volumes for food and beverage markets declined 3% compared to the prior year, primarily due to cool and wet weather conditions affecting the North American beverage market.
Silgan maintained its full-year 2025 adjusted earnings guidance of $3.85 to $4.05 per share, representing a 9% increase at the midpoint compared to 2024. The company also expects to generate approximately $430 million in free cash flow for the year, a 10% increase from 2024.
"We are pleased to have delivered record first half Adjusted EBIT results that increased 17% over the prior year period, and we are on track to deliver 9% EPS growth and double digit adjusted EBIT and free cash flow growth in 2025," Greenlee added.
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