Silgan Earns 38 Cents per Share

Also after the bell Tuesday, Silgan Holdings (SLGN) reported Q4 earnings of 38 cents per share. That exactly matched Wall Street’s forecast. The company had expected earnings between 34 to 39 cents per share.

“We had another record year in 2019 with adjusted net income per diluted share of $2.16, an increase of 3.8 percent over the prior year record performance in spite of pension headwinds and tariff related cost volatility,” said Tony Allott, Chairman and CEO. “These record results were largely driven by improvements in our metal and plastic container businesses. Our closures business performed well, but faced headwinds due to weaker volumes in food markets as a result of lower fruit and vegetable pack yields and the unfavorable impact of the customer pre-buy of products in 2018 in advance of significant metal price increases in 2019,” continued Mr. Allott.

For 2020, Silgan sees earnings ranging between $2.28 and $2.38 per share. Wall Street had been expecting earnings of $2.30 per share. This was a good report.

Posted by on January 28th, 2020 at 10:52 pm


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