Silgan Q2 adjusted EPS $0.83, misses prior year; cuts 2023 guidance to $3.40-$3.60

SILGAN HOLDINGS INC

2023-Q2 EPS reported $1.36 revenue$2,845,008,000

Q2 net sales $1.43B (-8% YoY); GAAP net income $78.9M ($0.71 diluted) vs $92.7M ($0.83) last year.
Adjusted EPS $0.83 (down from record $1.09); adjustments added $0.12 per share.
Dispensing & Specialty Closures adjusted EBIT fell $23.4M to $76.9M; Metal Containers rose $12.2M to $75.7M.
Full-year 2023 adjusted EPS guidance cut to $3.40-$3.60 from $3.95-$4.15; free cash flow estimate reduced to ~$375M.
Drivers: customer inventory management, higher interest costs, labor challenges at a U.S. food/bev closures facility (~$10M impact).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.92

SILGAN HOLDINGS INC updated its second quarter 2023 guidance (lowered).

Period: second quarter 2023
Guidance: lowered
Result: reported results

Exact text from the filing

On July 26, 2023, the Registrant issued a press release reporting its financial results for the three and six month periods ended June 30, 2023.

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SILGAN HOLDINGS INC filing history →

Source: SEC EDGAR

accession 0000849869-23-000123

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