Silgan Holdings Inc. (NYSE:SLGN), a top provider of rigid packaging solutions, announced on Wednesday that its adjusted earnings per share for the second quarter rose 15%, fueled by strong gains in its dispensing products segment and ongoing expansion in pet food packaging.
The company reported adjusted earnings of $1.01 per share for Q2, slightly under the analyst forecast of $1.03. Revenue increased 11% to $1.54 billion, just above the consensus estimate of $1.53 billion. Net sales within the Dispensing and Specialty Closures division hit a new high of $702.2 million, marking a 24% rise from the same quarter a year ago.
“Our businesses continued to execute in the second quarter and delivered significant adjusted EPS growth of 15%, driven by increased organic volumes in our key product categories, strong contributions from the successful integration of the Weener acquisition and continued best-in-class operating performance,” stated Adam Greenlee, President and CEO.
In the Metal Containers segment, revenue grew 4% to $676.1 million, supported by mid-single-digit volume increases in the pet food market. However, volumes for specialty closures in the food and beverage sector fell 3% year-over-year, mainly due to cool and wet weather conditions impacting the North American beverage market.
Silgan reaffirmed its full-year 2025 adjusted earnings guidance of $3.85 to $4.05 per share, which represents a 9% increase at the midpoint compared to 2024. The company also projects free cash flow around $430 million for the year, a 10% rise over the previous year.
“We are pleased to have delivered record first half Adjusted EBIT results that increased 17% over the prior year period, and we are on track to deliver 9% EPS growth and double digit adjusted EBIT and free cash flow growth in 2025,” Greenlee added.
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