Silgan Holdings (SLGN) Tops Q2 EPS by 2c, Offers Q3 Guidance and Maintains FY Estimate

Silgan Holdings (NASDAQ: SLGN) reported Q2 EPS of $0.85, $0.02 better than the analyst estimate of $0.83. Revenue for the quarter came in at $1.35 billion versus the consensus estimate of $1.29 billion.

GUIDANCE:

Silgan Holdings sees Q3 2021 EPS of $0.95-$1.10, versus the consensus of $1.09.

• The Company maintained its estimate of adjusted net income per diluted share for the full year of 2021 in the range of $3.30 to $3.45, a 10.3 percent increase at the midpoint of such range over record adjusted net income per diluted share of $3.06 in 2020.
• The Company is also providing an estimate of adjusted net income per diluted share for the third quarter of 2021 in the range of $0.95 to $1.10, as compared to a record $1.04 in the third quarter of 2020. Given the uncertainties of the timing of the fruit and vegetable harvest in the U.S. and Europe, the results of the back half of the year could shift between the third and fourth quarters.
• The third quarter and full year estimates of adjusted net income per diluted share for 2021 exclude the impact from rationalization charges and loss on early extinguishment of debt and are predicated on the ability to obtain adequate raw material supply and to benefit from the lagged pass through of higher resin costs as these costs are expected to begin to abate.

For earnings history and earnings-related data on Silgan Holdings (SLGN) click here.

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