Published on 6 May 2024 on Zacks via Yahoo Finance
Silgan Holdings Inc. SLGN reported adjusted earnings per share (EPS) of 69 cents for first-quarter 2024, beating the Zacks Consensus Estimate of 67 cents. The bottom line decreased 12% year over year but was within the company’s guidance of 60-70 cents. The decline reflected weaker volume performance across all its segments attributed to customer destocking.Including one-time items, earnings were 52 cents per share compared with 65 cents in the prior-year quarter.
Total revenues decreased 7% year over year to $1.32 billion from the prior-year quarter’s $1.42 billion, reflecting declining volumes and the pass-through of lower raw material costs. The top line missed the Zacks Consensus Estimate of $1.37 billion.
Silgan Holdings Inc. Price, Consensus and EPS Surprise