Published on 5 Feb 2024 on GuruFocus.com via Yahoo Finance

Silgan Holdings Inc. Reports Full Year 2023 Earnings, Anticipates Growth in 2024

Net Sales: Reported $6.0 billion for full year 2023, a decrease from $6.4 billion in 2022.Net Income: Achieved $326.0 million, or $2.98 per diluted share, compared to $340.8 million, or $3.07 per diluted share in the previous year.Adjusted Net Income: Adjusted net income per diluted share was $3.40 for 2023 after certain adjustments.Dividends and Share Repurchases: Returned over $250 million to shareholders through share repurchases and dividends.Cost Reduction Program: Announced a multi-year $50 million cost reduction program to enhance profitability.Free Cash Flow: Reported $356.7 million in 2023, with expectations of growth in 2024.2024 Outlook: Estimates adjusted net income per diluted share for 2024 to be in the range of $3.55 to $3.75.

Warning! GuruFocus has detected 5 Warning Signs with SLGN.

On January 31, 2024, Silgan Holdings Inc (NYSE:SLGN), a leader in sustainable rigid packaging solutions for consumer goods, released its 8-K filing, detailing its financial results for the fourth quarter and full year of 2023. Despite a challenging economic environment and unprecedented volume fluctuations, Silgan reported a robust financial performance, with net sales of $6.0 billion and net income of $326.0 million, or $2.98 per diluted share. This performance reflects a slight decline from the previous year's net sales of $6.4 billion and net income of $340.8 million, or $3.07 per diluted share.