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Jun 30, 2021
Silgan Q2 2021 Earnings Report
Reported record second quarter 2021 net income of $94.5 million, or $0.85 per diluted share.
Key Takeaways
Silgan Holdings Inc. reported record second quarter 2021 net income of $94.5 million, or $0.85 per diluted share. Net sales for the second quarter of 2021 were $1.35 billion, an increase of $172.2 million, or 14.6 percent, as compared to the same period in the prior year.
Achieved record Segment Income for Dispensing and Specialty Closures and Custom Containers
Volume increase of 10 percent over prior year record volume in the Dispensing and Specialty Closures segment
Maintains estimated full year 2021 adjusted earnings per diluted share growth of 10.3 percent at midpoint of range over record 2020 levels
Free cash flow guidance increased to $400 million
Revenue by Segment
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.
Positive Outlook
- Estimate of adjusted net income per diluted share for the full year of 2021 in the range of $3.30 to $3.45
- Estimate of adjusted net income per diluted share for the third quarter of 2021 in the range of $0.95 to $1.10
- Anticipates continued strong product demand in key markets
- Expects a robust harvest
- Lagged pass through of higher resin costs as these costs are expected to begin to abate
Challenges Ahead
- Uncertainties of the timing of the fruit and vegetable harvest in the U.S. and Europe
- Results of the back half of the year could shift between the third and fourth quarters
- Excludes the impact from rationalization charges and loss on early extinguishment of debt
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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