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Jun 30, 2022
Silgan Q2 2022 Earnings Report
Silgan reported record quarterly earnings, driven by strong performance across all business segments and successful pass-through of inflationary costs.
Key Takeaways
Silgan Holdings Inc. reported record second-quarter net sales of $1.54 billion, a 14.5% increase over the prior year. The company's adjusted EPS reached a record $1.08 per diluted share, a 27% increase year-over-year. Silgan confirmed its record full-year earnings outlook and anticipates delivering another new all-time record adjusted earnings per diluted share in the third quarter of 2022.
Earnings per diluted share (EPS) of $0.83
Record adjusted EPS of $1.08 per diluted share, a 27 percent increase over the prior year quarter
Achieved record revenue in each business segment
Confirmed record full year earnings outlook
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 2022 in the range of $3.90 to $4.05, a 17 percent increase at the midpoint of the range over record adjusted net income per diluted share of $3.40 in 2021. The Company also confirmed its estimated full year free cash flow of approximately $350 million, which now includes payment of the previously disclosed $25.2 million settlement. The Company is also providing an estimate of adjusted net income per diluted share for the third quarter of 2022 in the range of $1.15 to $1.30, a 20 percent increase at the midpoint of the range over a record $1.02 in the third quarter of 2021.
Positive Outlook
- Maintaining full year 2022 adjusted earnings per diluted share estimate of $3.90 to $4.05.
- Maintaining full year 2022 free cash flow estimate of approximately $350 million.
- Providing an estimate of adjusted net income per diluted share for Q3 2022 in the range of $1.15 to $1.30.
- Anticipates continued material and labor supply.
- Expects to continue to obtain required materials and labor supply.
Challenges Ahead
- Continued economic volatility
- Ongoing supply chain disruptions
- Uncertainties of the timing of the fruit and vegetable harvest in the U.S. and Europe
- Rising interest rates
- Foreign currency translation
Revenue & Expenses
Visualization of income flow from segment revenue to net income