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Jun 30, 2020
Silgan Q2 2020 Earnings Report
Reported the strongest quarterly performance in company history and further raised full year outlook for earnings and cash generation.
Key Takeaways
Silgan Holdings Inc. reported record second quarter 2020 net income of $78.2 million, or $0.70 per diluted share, as compared to second quarter 2019 net income of $31.0 million, or $0.28 per diluted share. Adjusted net income per diluted share was a record $0.85 for the second quarter of 2020.
Record net income of $0.70 per diluted share
Record adjusted net income of $0.85 per diluted share
Record income before interest and taxes of $131.2 million
Completed acquisition of the dispensing operations of Albéa Group
Revenue by Segment
Forward Guidance
The Company increased its estimate of adjusted net income per diluted share for the full year of 2020 to a range of $2.70 to $2.85 and also increased its free cash flow estimate for 2020 from approximately $275 million to approximately $330 million.
Positive Outlook
- Driven by the Company's performance to date
- Anticipated continued strong demand for food and consumer health and hygiene products used principally in the home
- Inclusion of the dispensing operations acquired from Albéa on June 1, 2020
- Estimates assume that the Company, its customers and its suppliers are able to continue running plants during the ongoing COVID-19 pandemic.
Challenges Ahead
- Anticipated continued weaker demand for beauty products and other products used primarily in public venues.
- Uncertainties around the timing of the fruit and vegetable harvest in the U.S. and Europe
- The impact of the dispensing operations acquired from Albéa is expected to be minimal as recovery in demand levels in beauty markets remains uncertain due to the COVID-19 pandemic.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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