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Mar 31, 2020
Silgan Q1 2020 Earnings Report
Reported record first quarter earnings and increased full year earnings outlook.
Key Takeaways
Silgan Holdings Inc. reported record first quarter 2020 net income of $57.6 million, or $0.52 per diluted share, as compared to first quarter 2019 net income of $46.7 million, or $0.42 per diluted share. Adjusted net income per diluted share was a record $0.57 for the first quarter of 2020, after adjustments increasing net income per diluted share by $0.05.
Record net income of $0.52 per diluted share
Record adjusted net income of $0.57 per diluted share
Record volumes in each of the businesses
Increased cash dividend per share by 9 percent
Silgan
Silgan
Silgan Revenue by Segment
Revenue by Segment
Dispensing & Specialty Closures Revenue
CapyFin.comMetal Containers Revenue
CapyFin.comCustom Containers Revenue
CapyFin.com Forward Guidance
The Company increased its estimate of adjusted net income per diluted share for the full year of 2020 to a range of $2.30 to $2.50 from a range of $2.28 to $2.38. The Company is also providing an estimate of adjusted net income per diluted share for the second quarter of 2020 in the range of $0.55 to $0.70, as compared to $0.55 in the second quarter of 2019, a 13.6 percent increase to the midpoint of such range.
Positive Outlook
- Anticipated continued higher demand for food and consumer health products used principally in the home
- Estimates exclude the impact from the announced pending acquisition of the dispensing business of Albea Group
- Estimates exclude rationalization charges
- Estimates exclude costs attributable to announced acquisitions
- Estimates exclude loss on early extinguishment of debt
Challenges Ahead
- Unprecedented uncertainties due to the coronavirus crisis
- Declines in products used primarily in public venues, particularly in the first half of the year
- Assumes that the Company, its customers and its suppliers are able to continue running plants during this crisis.
- Impact from the announced pending acquisition of the dispensing business of Albea Group is excluded
- Rationalization charges are excluded
Revenue & Expenses
Visualization of income flow from segment revenue to net income