NASDAQ$SLGN
Silgan Holdings Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Silgan Holdings reported mixed Q4 2023 results with a decrease in net sales but an increase in net income, driven by growth in dispensing products and cost reduction initiatives.
Silgan Holdings Inc. reported Q4 2023 net sales of $1.3 billion, an 8% decrease compared to the same period in the prior year. Net income for the quarter was $64.4 million, or $0.60 per diluted share, compared to $24.6 million, or $0.22 per diluted share, for Q4 2022. The company highlighted continued growth in high-value dispensing products and announced a multi-year $50 million cost reduction program.
- Net sales decreased by 8% to $1.3 billion due to lower volumes.
- Net income increased to $64.4 million, or $0.60 per diluted share, compared to $24.6 million, or $0.22 per diluted share, in Q4 2022.
- Adjusted net income per diluted share was $0.63, compared to $0.85 in Q4 2022.
- The company is implementing a multi-year $50 million cost reduction program.
Headline financials
Revenue & EPS history
Silgan · Revenue · Quarterly
$1.34B
Revenue by segment
Silgan · $1.8B total across 3 segments · Q3 2023
- Metal Containers$1.09B-9.7%60.7%
- Dispensing & Specialty Closures$559M-2.8%31.0%
- Custom Containers$149M-18.3%8.3%
Forward guidance
The Company currently estimates adjusted net income per diluted share for the full year of 2024 will be in the range of $3.55 to $3.75.
Tailwinds
- Volumes in the Dispensing and Specialty Closures and Metal Containers segments for 2024 are expected to be higher than 2023 levels.
- Volumes in the Custom Containers segment are expected to be comparable to the prior year.
- The Company anticipates interest and other debt expense in 2024 of approximately $170 million.
- The company expects an effective tax rate for 2024 of approximately 24 - 25%.
- The Company currently estimates that free cash flow in 2024 will be approximately $375 million as compared to $356.7 million in 2023.
Headwinds
- For the first quarter of 2024, the Company expects the impact of customer destocking to continue to impact volumes.
- A low single digit volume decline in the Dispensing and Specialty Closures and Metal Containers segments is expected.
- A mid-to-high single digit volume decline in the Custom Containers segment is expected as compared to the prior year period.
- The Company is providing an estimate of adjusted net income per diluted share for the first quarter of 2024 in the range of $0.60 to $0.70.
- This is as compared to $0.78 in the first quarter of 2023.
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 Q4 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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