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Mar 31, 2021
Silgan Q1 2021 Earnings Report
Reported record first quarter earnings and confirmed full year earnings guidance.
Key Takeaways
Silgan Holdings Inc. reported record first quarter 2021 net income of $73.3 million, or $0.66 per diluted share, as compared to first quarter 2020 net income of $57.6 million, or $0.52 per diluted share. Adjusted net income per diluted share was a record $0.75 for the first quarter of 2021.
Record net income of $0.66 per diluted share
Record adjusted net income of $0.75 per diluted share
Volume increases of 9 percent in each of the Dispensing and Specialty Closures segment and Metal Container segment
Increased cash dividend per share by 16.7 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 maintained its estimate of adjusted net income per diluted share for the full year of 2021 in the range of $3.30 to $3.45, a 10.3 percent increase at the midpoint of such range over record adjusted net income per diluted share of $3.06 in 2020. The Company is also providing an estimate of adjusted net income per diluted share for the second quarter of 2021 in the range of $0.75 to $0.85, as compared to a record $0.85 in the second quarter of 2020.
Positive Outlook
- Continuing strong demand for products
- Strong start to the year
- full year earnings estimate assumes a subsequent benefit
- anticipate benefiting from the lagged pass through of these costs as they return to more normal levels
- ability to continue to obtain adequate raw material supply
Challenges Ahead
- significant impact from contractual lags in passing through the unprecedented inflation in resin and other raw materials
- anticipates continued strong product demand
- second quarter of 2020 benefited from an outsized liquidation of inventory to meet significant customer demand as home lockdowns were enacted across the globe.
- rationalization charges
- loss on early extinguishment of debt
Revenue & Expenses
Visualization of income flow from segment revenue to net income