NASDAQ$SLGN
Silgan Holdings Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Silgan reported a decrease in net sales and net income compared to the same period last year, but highlighted growth in high-value dispensing products and adjusted EBIT in Metal Containers.
Silgan Holdings Inc. reported second quarter 2023 net sales of $1.43 billion and net income of $78.9 million, or $0.71 per diluted share. The company's performance was impacted by customer inventory management initiatives and the effects of inflation on consumer buying habits. However, Silgan continued to advance its strategic initiatives and secured new long-term business awards.
- High single digit growth in high value dispensing products.
- Double digit adjusted EBIT growth in Metal Containers.
- Progress towards long-term strategic initiatives with multiple new business awards.
- Near-term performance will be impacted primarily by customers' inventory management initiatives.
Headline financials
Revenue & EPS history
Silgan · Revenue · Quarterly
$1.43B
Revenue by segment
Silgan · $1.43B total across 3 segments · Q2 2023
- Metal Containers$711M-5.8%49.8%
- Dispensing & Specialty Closures$560M-7.0%39.3%
- Custom Containers$156M-16.7%10.9%
Forward guidance
The Company has revised its estimate of adjusted net income per diluted share for the full year of 2023 from a range of $3.95 to $4.15 to a range of $3.40 to $3.60.
Tailwinds
- Adjusted EBIT in the Dispensing and Specialty Closures and Metal Containers segments for 2023 are now expected to be comparable to record levels achieved in 2022.
- Free cash flow in 2023 is expected to benefit from improvements in working capital.
- The Company expects low single digit organic volume growth in the Dispensing and Specialty Closures segment for Q3 2023.
- The Company expects flat volumes in the Metal Containers segment for Q3 2023.
- Capital expenditures are now expected to be approximately $230 million in 2023.
Headwinds
- Customer inventory management in the food and beverage markets impacting volumes in the second half of the year.
- Custom Containers volumes in 2023 are now expected to be approximately 10% below the prior year due to delays in the commercialization of new business and customer inventory management programs.
- This will result in lower adjusted EBIT in the Custom Containers segment in 2023 as compared to 2022.
- Interest expense for 2023 is now expected to be approximately $0.30 per diluted share higher than the prior year primarily due to higher interest rates.
- Volumes in the Custom Containers segment for the third quarter of 2023 are expected to be approximately 10% below the prior year quarter.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
-0.2%
Avg return
Earnings day
+0.5%
Avg return
5 days after
+0.7%
Avg return
30 days after
54%
37 / 68 earnings
Positive
+9.6%
Q4 2025
Best reaction
-13.6%
Q3 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.6% | +1.3% | -3.2% | |
| Q4 2025 | +9.6% | +11.2% | +1.5% | |
| Q3 2025 | -13.6% | -13.1% | -11.4% | |
| Q1 2025 | -1.5% | +4.0% | +5.0% | |
| Q4 2024 | +5.2% | +3.4% | +2.5% | |
| Q3 2024 | +1.9% | +4.5% | +13.3% | |
| Q2 2024 | +8.1% | -0.7% | +7.2% | |
| Q1 2024 | -2.7% | -0.0% | +1.3% | |
| Q4 2023 | +6.3% | +2.5% | +0.2% | |
| Q3 2023 | -3.3% | -3.5% | +2.1% | |
| Q2 2023 | -11.2% | -10.2% | -7.9% | |
| Q1 2023 | -9.4% | -7.0% | -13.0% | |
| Q4 2022 | +4.7% | +3.9% | +6.1% | |
| Q3 2022 | +4.1% | +5.4% | +18.2% | |
| Q2 2022 | +5.8% | +5.2% | +10.8% | |
| Q1 2022 | +2.9% | +2.0% | +2.3% | |
| Q4 2021 | +2.0% | +7.7% | -0.3% | |
| Q3 2021 | +3.4% | +2.4% | +8.7% | |
| Q2 2021 | +2.0% | +1.0% | +7.6% | |
| Q1 2021 | -1.8% | -1.3% | -2.3% | |
| Q4 2020 | -2.2% | -0.8% | +3.9% | |
| Q3 2020 | -7.7% | -8.8% | -11.1% | |
| Q2 2020 | +7.6% | +7.9% | +6.3% | |
| Q1 2020 | +3.9% | +7.5% | -0.2% | |
| Q4 2019 | -1.7% | -1.9% | -6.7% | |
| Q3 2019 | -1.8% | +0.1% | -1.3% | |
| Q2 2019 | +0.3% | +1.9% | -2.3% | |
| Q1 2019 | -2.8% | -1.7% | -1.9% | |
| Q4 2018 | +3.6% | +6.2% | +7.6% | |
| Q3 2018 | -11.3% | -11.2% | -5.1% | |
| Q2 2018 | +0.1% | +1.7% | +1.7% | |
| Q1 2018 | +6.1% | +3.4% | +2.8% | |
| Q4 2017 | +3.2% | +1.7% | -3.3% | |
| Q3 2017 | +3.3% | +1.6% | -0.3% | |
| Q2 2017 | -3.3% | -5.0% | -7.3% | |
| Q1 2017 | +2.8% | +1.4% | +4.5% | |
| Q4 2016 | +1.8% | +1.9% | +0.9% | |
| Q3 2016 | +2.0% | +0.6% | -0.8% | |
| Q2 2016 | -5.0% | -5.3% | -9.5% | |
| Q1 2016 | -3.6% | — | — | |
| Q4 2015 | +1.4% | — | — | |
| Q3 2015 | -6.8% | — | — | |
| Q2 2015 | -0.5% | — | — | |
| Q1 2015 | -5.4% | — | — | |
| Q4 2014 | +5.3% | — | — | |
| Q3 2014 | -2.9% | — | — | |
| Q2 2014 | -0.4% | — | — | |
| Q1 2014 | -1.8% | — | — | |
| Q4 2013 | +0.8% | — | — | |
| Q3 2013 | -8.3% | — | — | |
| Q2 2013 | -3.2% | — | — | |
| Q1 2013 | -1.6% | — | — | |
| Q4 2012 | +1.4% | — | — | |
| Q3 2012 | +1.0% | — | — | |
| Q2 2012 | -5.5% | — | — | |
| Q1 2012 | -1.0% | — | — | |
| Q4 2011 | +0.2% | — | — | |
| Q3 2011 | -2.0% | — | — | |
| Q2 2011 | +5.0% | — | — | |
| Q1 2010 | -0.3% | — | — | |
| Q4 2010 | -0.3% | — | — | |
| Q1 2011 | +1.5% | — | — | |
| Q4 2008 | -1.5% | — | — | |
| Q3 2010 | +0.5% | — | — | |
| Q3 2009 | +0.5% | — | — | |
| Q4 2009 | +1.2% | — | — | |
| Q2 2009 | +1.2% | — | — | |
| Q2 2010 | +1.2% | — | — |
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