Highlights
- Mid-single digit growth in high value dispensing products
- Share repurchases of $175 million; expect to return over $250
million to shareholders in 2023
- Announces a multi-year $50 million cost reduction program
- Expects earnings growth in 2024 independent of market
recovery
Silgan Holdings Inc. (NYSE: SLGN), a leading supplier of
sustainable rigid packaging solutions for the world's essential
consumer goods products, today reported third quarter 2023 net
sales of $1.80 billion and net income of $110.6 million, or $1.02
per diluted share, as compared to record third quarter 2022 net
sales of $1.97 billion and net income of $138.7 million, or $1.25
per diluted share.
Adjusted net income per diluted share for the third quarter of
2023 was $1.16, after adjustments increasing net income per diluted
share by $0.14. Adjusted net income per diluted share for the third
quarter of 2022, which included $0.03 per diluted share from
non-recurring income associated with Russia, was a record $1.28
after adjustments increasing net income per diluted share by $0.03.
A reconciliation of net income per diluted share to "adjusted net
income per diluted share," a Non-GAAP financial measure used by the
Company that adjusts net income per diluted share for certain
items, can be found in Table A at the back of this press
release.
"Our third quarter results continued to display the strength and
breadth of our diverse portfolio, as we delivered our second
highest quarterly earnings amidst challenging market conditions.
Our high value dispensing business posted another record quarter,
and trends in the third quarter developed largely as we expected,"
said Adam Greenlee, President and CEO. "We continue to see
resilient consumer trends for our products, and as expected our
food and beverage customers' destocking was prevalent during the
quarter. In some cases, we have seen these trends expand to include
adjacent categories. Through our internal focus on operational
excellence we successfully managed costs during the quarter, and we
identified additional opportunities to reduce costs across the
organization by $50 million over the next two years through a
combination of footprint rationalization and other cost reduction
actions. Our businesses continue to focus on the unique needs of
our customers and win in the markets we serve, and we believe these
cost actions will further competitively advantage our low cost
manufacturing network and position our businesses for continued
success," continued Mr. Greenlee. "While market conditions in 2023
have been challenging, our customer partnerships remain strong, we
are actively managing what is within our control and we remain
confident that the Company is well positioned to continue to
achieve our medium and long-term growth objectives. As we look into
2024, while visibility is lower than normal, we see positive signs
in our customers' promotional activity, and our customers appear to
be targeting volume growth. With the actions we are taking in 2023
and the continued success of our strategic growth initiatives, we
expect the Company to grow earnings in 2024 independent of a
recovery in market volumes. Our formula for disciplined shareholder
value creation continues to drive our capital allocation decisions,
and year-to-date we have repurchased $175 million of stock. These
repurchases, coupled with dividends paid and expected to be paid
this year, put us on track to return more than $250 million to
shareholders in 2023," concluded Mr. Greenlee.
Third Quarter Results
Net sales for the third quarter of 2023 were $1.80 billion, a
decrease of $167.3 million, or 9%, as compared to record sales in
the same period in the prior year. Excluding non-recurring sales
associated with Russia (Russia Sales) of $20.3 million in the third
quarter of 2022, third quarter 2023 net sales declined 7%
predominantly as a result of lower volumes.
Income before interest and income taxes (EBIT) for the third
quarter of 2023 was $194.1 million, a decrease of $25.3 million as
compared to a record $219.4 million for the third quarter of 2022.
EBIT in the Dispensing and Specialty Closures, Metal Containers and
Custom Containers segments were $78.0 million, $110.1 million, and
$10.7 million, respectively, in the third quarter of 2023.
Rationalization charges were $6.4 million and $2.7 million in the
third quarters of 2023 and 2022, respectively. A reconciliation of
EBIT for each segment to adjusted EBIT, a Non-GAAP financial
measure used by the Company that adjusts EBIT for certain items,
can be found in Table B at the back of this press release.
Interest and other debt expense for the third quarter of 2023
was $47.3 million, an increase of $13.6 million as compared to the
third quarter of 2022 primarily due to the impact of higher
interest rates.
The effective tax rates were 24.7% and 25.3% for the third
quarters of 2023 and 2022, respectively.
Third Quarter Segment Results
Dispensing and Specialty Closures
Net sales of the Dispensing and Specialty Closures segment were
$559.1 million in the third quarter of 2023, a decrease of $16.4
million, or 3%, as compared to $575.5 million in the third quarter
of 2022. Excluding Russia Sales of $3.8 million in the third
quarter of 2022, net sales declined 2% from the prior year quarter
as a result of lower volume/mix of 3%, with mid-single digit growth
in higher value dispensing products offset by double digit declines
in higher volume closures for international food and beverage
markets due to the ongoing impact of inflation on consumers.
Dispensing and Specialty Closures adjusted EBIT increased $5.4
million to $93.8 million in the third quarter of 2023 as compared
to $88.4 million in the third quarter of 2022. The increase in
adjusted EBIT was driven primarily by improved volume/mix as a
result of growth in higher margin dispensing products and favorable
price/cost which included SG&A cost management.
Metal Containers
Net sales of the Metal Containers segment were $1.10 billion in
the third quarter of 2023, a decrease of $117.4 million, or 10%, as
compared to $1.21 billion in the third quarter of 2022. Net sales
in the Metal Containers segment decreased 8% in the third quarter
of 2023 as compared to the same period in 2022, excluding the
impact of Russia Sales of $16.5 million in the third quarter of
2022. This decrease was the result of lower unit volume of 10%,
with lower volumes across all categories as customer destocking
expanded during the quarter.
Metal Containers adjusted EBIT decreased $4.1 million to $113.5
million in the third quarter of 2023 as compared to $117.6 million
in the third quarter of 2022. Adjusted EBIT in the quarter
benefited from favorable price/cost including mix and lower
SG&A costs, which was more than offset by the decline in
volumes in the quarter as a result of customer destocking
priorities that impacted volumes in all categories in the
segment.
Custom Containers
Net sales of the Custom Containers segment were $149.4 million
in the third quarter of 2023, a decrease of $33.5 million, or 18%,
as compared to $182.9 million in the third quarter of 2022. This
decrease was primarily the result of an anticipated volume
reduction of 10% due largely to customer destocking programs, as
well as lower price/mix of 8% in the third quarter of 2023 due to
the pass-through of lower resin costs and a less favorable mix of
products sold.
Custom Containers adjusted EBIT decreased $11.0 million to $11.8
million in the third quarter of 2023 as compared to $22.8 million
in the third quarter of 2022. The decrease in adjusted EBIT was
primarily the result of lower volumes in the quarter and a less
favorable mix of products sold.
Outlook for 2023
The Company has revised its estimate of adjusted net income per
diluted share for the full year of 2023 from a range of $3.40 to
$3.60 to a range of $3.30 to $3.40 primarily due to anticipated
lower volumes in the fourth quarter and higher interest expense.
This revised estimate compares to record adjusted net income per
diluted share for the full year of 2022 of $4.01, which included
$0.09 per diluted share from non-recurring income associated with
Russia. Interest expense for 2023 is expected to be approximately
$0.33 per diluted share higher than the prior year primarily due to
higher interest rates. Volume in the Dispensing and Specialty
Closures and Metal Containers segments for 2023 are now expected to
be below record levels achieved in 2022 due to customer destocking
in the food and beverage markets initiated late in the second
quarter and in adjacent markets in the second half of the year.
Custom Containers volumes in 2023 are expected to be approximately
10% below the prior year due to delays in the commercialization of
new business and customer destocking programs. Adjusted net income
per diluted share excludes certain items as outlined in Table C at
the back of this press release.
The Company now anticipates interest expense before loss on
early extinguishment of debt in 2023 of approximately $175 million
based on the current forward interest rate curve and an effective
tax rate for 2023 of approximately 24%.
The Company has revised its estimate of free cash flow in 2023
from approximately $375 million to approximately $340 million
primarily due to the revised earnings estimate for the year and
estimated cash costs in 2023 associated with the announced cost
reduction program including additional working capital to
facilitate these actions. This estimate compares to free cash flow
of $368.2 million in 2022. Capital expenditures are expected to be
approximately $230 million in 2023.
For the fourth quarter of 2023, the Company expects a low single
digit volume decline in the Dispensing and Specialty Closures
segment and a mid-single digit volume decline in the Metal
Containers segment as compared to the prior year quarter, with
customer destocking in the food and beverage and adjacent markets
impacting volumes in the quarter. Volumes in the Custom Containers
segment for the fourth quarter of 2023 are expected to decline by a
low single digit percentage compared to the prior year quarter due
to customer destocking programs. The Company is providing an
estimate of adjusted net income per diluted share for the fourth
quarter of 2023 in the range of $0.55 to $0.65, as compared to a
record $0.85 in the fourth quarter of 2022. Adjusted net income per
diluted share excludes certain items as outlined in Table C at the
back of this press release.
Conference Call
Silgan Holdings Inc. will hold a conference call to discuss the
Company’s results for the third quarter of 2023 at 11:00 a.m.
eastern time on Wednesday, October 25, 2023. The conference call
audio will be webcast live, and both the webcast and this press
release can be accessed at www.silganholdings.com. Those who wish
to participate in the conference call via teleconference from the
U.S. and Canada should dial (866) 575-6539 and from outside the
U.S. and Canada should dial (323) 794-2551. The confirmation code
for the conference call is 2528033. The audio webcast can be
accessed at www.silganholdings.com and will be available for 90
days thereafter for those who are unable to listen to the live
call.
Silgan is a leading supplier of sustainable rigid packaging
solutions for the world's essential consumer goods products with
annual net sales of approximately $6.4 billion in 2022. Silgan
operates 110 manufacturing facilities in North and South America,
Europe and Asia. The Company is a leading worldwide supplier of
dispensing and specialty closures for food, beverage, health care,
garden, home, personal care, fragrance and beauty products. The
Company is also a leading supplier of metal containers in North
America and Europe for food and general line products. In addition,
the Company is a leading supplier of custom containers for
shelf-stable food and personal care products in North America.
Statements included in this press release which are not
historical facts are forward looking statements made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995 and the Securities Exchange Act of 1934, as
amended. Such forward looking statements are made based upon
management’s expectations and beliefs concerning future events
impacting the Company and therefore involve a number of
uncertainties and risks, including, but not limited to, those
described in the Company’s Annual Report on Form 10-K for 2022 and
other filings with the Securities and Exchange Commission.
Therefore, the actual results of operations or financial condition
of the Company could differ materially from those expressed or
implied in such forward looking statements.
SILGAN HOLDINGS INC.
CONDENSED CONSOLIDATED
STATEMENTS OF INCOME
(UNAUDITED)
For the quarter and nine months
ended September 30,
(Dollars and shares in millions,
except per share amounts)
Third
Quarter
Nine
Months
2023
2022
2023
2022
Net sales
$
1,803.1
$
1,970.4
$
4,648.1
$
4,956.1
Cost of goods sold
1,517.2
1,662.6
3,874.1
4,141.0
Gross profit
285.9
307.8
774.0
815.1
Selling, general and administrative
expenses
84.3
96.8
287.8
320.5
Rationalization charges
6.4
2.7
13.2
7.5
Other pension and postretirement expense
(income)
1.1
(11.1
)
3.7
(33.7
)
Income before interest and income
taxes
194.1
219.4
469.3
520.8
Interest and other debt expense before
loss on early extinguishment of debt
47.3
33.7
130.8
91.7
Loss on early extinguishment of debt
—
—
—
1.5
Interest and other debt expense
47.3
33.7
130.8
93.2
Income before income taxes
146.8
185.7
338.5
427.6
Provision for income taxes
36.2
47.0
77.0
111.3
Net income
$
110.6
$
138.7
$
261.5
$
316.3
Earnings per share (EPS):
Basic net income per share
$
1.02
$
1.26
$
2.39
$
2.86
Diluted net income per share
$
1.02
$
1.25
$
2.38
$
2.85
Cash dividends per common share
$
0.18
$
0.16
$
0.54
$
0.48
Weighted average shares:
Basic
108.4
110.3
109.6
110.6
Diluted
108.8
110.7
110.0
111.1
SILGAN HOLDINGS INC.
CONDENSED CONSOLIDATED BALANCE
SHEETS
(UNAUDITED)
(Dollars in millions)
Sept. 30,
Sept. 30,
Dec. 31,
2023
2022
2022
Assets:
Cash and cash equivalents
$
307.1
$
243.6
$
585.6
Trade accounts receivable, net
1,295.9
1,124.1
658.0
Inventories
919.0
851.1
769.4
Other current assets
139.8
113.5
119.7
Property, plant and equipment, net
1,911.6
1,886.6
1,931.5
Other assets, net
3,238.9
3,300.5
3,281.6
Total assets
$
7,812.3
$
7,519.4
$
7,345.8
Liabilities and stockholders' equity:
Current liabilities, excluding debt
$
1,017.7
$
1,090.1
$
1,357.8
Current and long-term debt
4,210.5
3,838.0
3,425.4
Other liabilities
802.2
898.1
844.3
Stockholders' equity
1,781.9
1,693.2
1,718.3
Total liabilities and stockholders'
equity
$
7,812.3
$
7,519.4
$
7,345.8
SILGAN HOLDINGS INC.
CONDENSED CONSOLIDATED
STATEMENTS OF CASH FLOWS
(UNAUDITED)
For the nine months ended
September 30,
(Dollars in millions)
2023
2022
Cash flows provided by (used in) operating
activities:
Net income
$
261.5
$
316.3
Adjustments to reconcile net income to net
cash (used in) operating activities:
Depreciation and amortization
200.7
201.9
Rationalization charges
13.2
7.5
Loss on early extinguishment of debt
—
1.5
Other changes that provided (used) cash,
net of effects from acquisitions:
Trade accounts receivable, net
(638.3
)
(459.1
)
Inventories
(152.9
)
(92.2
)
Trade accounts payable and other changes,
net
(280.2
)
(93.4
)
Net cash (used in) operating
activities
(596.0
)
(117.5
)
Cash flows provided by (used in) investing
activities:
Purchase of businesses, net of cash
acquired
—
(1.3
)
Capital expenditures
(173.5
)
(162.3
)
Other investing activities
2.9
2.0
Net cash (used in) investing
activities
(170.6
)
(161.6
)
Cash flows provided by (used in) financing
activities:
Dividends paid on common stock
(59.7
)
(54.3
)
Changes in outstanding checks -
principally vendors
(61.4
)
(225.9
)
Shares repurchased under authorized
repurchase program
(174.7
)
(26.4
)
Net borrowings and other financing
activities
783.4
216.0
Net cash provided by (used in) financing
activities
487.6
(90.6
)
Effect of exchange rate changes on cash
and cash equivalents
0.5
(18.1
)
Cash and cash equivalents:
Net (decrease)
(278.5
)
(387.8
)
Balance at beginning of year
585.6
631.4
Balance at end of period
$
307.1
$
243.6
SILGAN HOLDINGS INC.
CONSOLIDATED SUPPLEMENTAL
SEGMENT FINANCIAL DATA
(UNAUDITED)
For the quarter and nine months
ended September 30,
(Dollars in millions)
Third
Quarter
Nine
Months
2023
2022
2023
2022
Net sales:
Dispensing and Specialty Closures
$
559.1
$
575.5
$
1,699.1
$
1,775.9
Metal Containers
1,094.6
1,212.0
2,475.6
2,617.1
Custom Containers
149.4
182.9
473.4
563.1
Consolidated
$
1,803.1
$
1,970.4
$
4,648.1
$
4,956.1
Income before interest and income taxes
(EBIT)
Dispensing and Specialty Closures
$
78.0
$
79.2
$
212.6
$
257.8
Metal Containers
110.1
121.3
231.6
225.6
Custom Containers
10.7
24.3
46.1
79.8
Corporate
(4.7
)
(5.4
)
(21.0
)
(42.4
)
Consolidated
$
194.1
$
219.4
$
469.3
$
520.8
SILGAN HOLDINGS INC.
RECONCILIATION OF ADJUSTED NET
INCOME PER DILUTED SHARE (1)
(UNAUDITED)
For the quarter and nine months
ended September 30,
(Dollars and shares in millions,
except per share amounts)
Table A
Third
Quarter
Nine
Months
2023
2022
2023
2022
Net
Diluted
Net
Diluted
Net
Diluted
Net
Diluted
Income
EPS
Income
EPS
Income
EPS
Income
EPS
U.S. GAAP net income and diluted EPS
$
110.6
$
1.02
$
138.7
$
1.25
$
261.5
$
2.38
$
316.3
$
2.85
Adjustments (a)
15.2
0.14
3.1
0.03
42.4
0.38
34.9
0.31
Non-U.S. GAAP adjusted net income and
adjusted diluted EPS
$
125.8
$
1.16
$
141.8
$
1.28
$
303.9
$
2.76
$
351.2
$
3.16
Weighted average number of common shares
outstanding - Diluted
108.8
110.7
110.0
111.1
(a) Adjustments consist of items in the
table below
Third
Quarter
Nine
Months
2023
2022
2023
2022
Adjustments:
Acquired intangible asset amortization
expense
$
13.3
$
12.9
$
39.9
$
39.6
Other pension expense (income) for U.S.
pension plans
0.6
(11.6
)
2.2
(35.6
)
Rationalization charges
6.4
2.7
13.2
7.5
European Commission settlement
—
—
—
25.2
Loss on early extinguishment of debt
—
—
—
1.5
Pre-tax impact of adjustments
20.3
4.0
55.3
38.2
Tax impact of adjustments
5.1
0.9
12.9
3.3
Net impact of adjustments
$
15.2
$
3.1
$
42.4
$
34.9
Weighted average number of common shares
outstanding - Diluted
108.8
110.7
110.0
111.1
Diluted EPS impact from adjustments
$
0.14
$
0.03
$
0.38
$
0.31
Adjusted tax rate
24.8
%
25.3
%
22.8
%
24.6
%
SILGAN HOLDINGS INC.
RECONCILIATION OF ADJUSTED
EBIT (2)
(UNAUDITED)
For the quarter and nine months
ended September 30,
(Dollars in millions)
Table B
Third
Quarter
Nine
Months
2023
2022
2023
2022
Dispensing and Specialty
Closures:
Income before interest and income taxes
(EBIT)
$
78.0
$
79.2
$
212.6
$
257.8
Acquired intangible asset amortization
expense
11.8
11.5
35.4
35.2
Other pension expense (income) for U.S.
pension plans
0.2
(2.6
)
0.4
(8.1
)
Rationalization charges
3.8
0.3
5.2
0.3
Adjusted EBIT
$
93.8
$
88.4
$
253.6
$
285.2
Metal Containers:
Income before interest and income taxes
(EBIT)
$
110.1
$
121.3
$
231.6
$
225.6
Acquired intangible asset amortization
expense
0.4
0.3
1.1
1.0
Other pension expense (income) for U.S.
pension plans
0.4
(6.5
)
1.1
(19.8
)
Rationalization charges
2.6
2.5
7.9
7.2
Adjusted EBIT
$
113.5
$
117.6
$
241.7
$
214.0
Custom Containers:
Income before interest and income taxes
(EBIT)
$
10.7
$
24.3
$
46.1
$
79.8
Acquired intangible asset amortization
expense
1.1
1.1
3.4
3.4
Other pension expense (income) for U.S.
pension plans
—
(2.5
)
0.7
(7.7
)
Rationalization charges
—
(0.1
)
0.1
—
Adjusted EBIT
$
11.8
$
22.8
$
50.3
$
75.5
Corporate:
Loss before interest and income taxes
(EBIT)
$
(4.7
)
$
(5.4
)
$
(21.0
)
$
(42.4
)
European Commission settlement
—
—
—
25.2
Adjusted EBIT
$
(4.7
)
$
(5.4
)
$
(21.0
)
$
(17.2
)
Total adjusted EBIT
$
214.4
$
223.4
$
524.6
$
557.5
SILGAN HOLDINGS INC.
RECONCILIATION OF ADJUSTED NET
INCOME PER DILUTED SHARE (1)
(UNAUDITED)
For the quarter and year
ended,
(Dollars and shares in millions,
except per share amounts)
Table C
Fourth
Quarter,
Year
Ended
December
31,
December
31,
Estimated
Actual
Estimated
Actual
Low
High
Low
High
2023
2023
2022
2023
2023
2022
U.S. GAAP net income as estimated for 2023
and as reported for 2022
$
46.0
$
59.1
$
24.6
$
305.1
$
322.1
$
340.8
Adjustments (a)
12.9
12.9
69.8
55.3
55.3
104.6
Non-U.S. GAAP adjusted net income as
estimated for 2023 and presented for 2022
$
58.9
$
72.0
$
94.4
$
360.4
$
377.4
$
445.4
U.S. GAAP diluted EPS as estimated for
2023 and as reported for 2022
$
0.43
$
0.53
$
0.22
$
2.79
$
2.89
$
3.07
Adjustments (a)
0.12
0.12
0.63
0.51
0.51
0.94
Non-U.S. GAAP adjusted diluted EPS as
estimated for 2023 and presented for 2022
$
0.55
$
0.65
$
0.85
$
3.30
$
3.40
$
4.01
(a) Adjustments consist of items in the
table below
Fourth
Quarter,
Year
Ended
December
31,
December
31,
2023
2022
2023
2022
Estimated
Actual
Estimated
Actual
Adjustments:
Acquired intangible asset amortization
expense
$
13.2
$
13.1
$
53.1
$
52.6
Other pension expense (income) for U.S.
pension plans
0.7
(11.9
)
2.9
(47.5
)
Rationalization charges
4.4
66.6
17.6
74.1
European Commission settlement
—
—
—
25.2
Loss on early extinguishment of debt
—
—
—
1.5
Pre-tax impact of adjustments
18.3
67.8
73.6
105.9
Tax impact of adjustments
5.4
(2.0
)
18.3
1.3
Net impact of adjustments
$
12.9
$
69.8
$
55.3
$
104.6
Weighted average number of common shares
outstanding - Diluted
107.0
110.8
109.2
111.0
Diluted EPS impact from adjustments
$
0.12
$
0.63
$
0.51
$
0.94
(1) The Company has presented adjusted net income per diluted
share for the periods covered by this press release, which measure
is a Non-GAAP financial measure. The Company’s management believes
it is useful to exclude acquired intangible asset amortization
expense, other pension expense (income) for U.S. pension plans,
rationalization charges, the charge for the European Commission
settlement and the loss on early extinguishment of debt from its
net income per diluted share as calculated under U.S. generally
accepted accounting principles because such Non-GAAP financial
measure allows for a more appropriate evaluation of its operating
results. Acquired intangible asset amortization expense is a
non-cash expense related to acquired operations that management
believes is not indicative of the on-going performance of the
acquired operations. Since the Company's U.S. pension plans are
significantly over funded and have no required cash contributions
for the foreseeable future based on current regulations, management
views other pension expense (income) from the Company's U.S.
pension plans, which excludes service costs, as not reflective of
the operational performance of the Company or its segments. While
rationalization costs are incurred on a regular basis, management
views these costs more as an investment to generate savings rather
than period costs. The charge for the European Commission
settlement is non-recurring and non-operational and relates to
prior years and is not indicative of the on-going cost structure of
the Company. The loss on early extinguishment of debt consists of
third party fees and expenses incurred or debt costs written off
that are viewed by management as part of the cost of prepayment of
debt and not indicative of the on-going cost structure of the
Company. Such Non-GAAP financial measure is not in accordance with
U.S. generally accepted accounting principles and should not be
considered in isolation but should be read in conjunction with the
unaudited condensed consolidated statements of income and the other
information presented herein. Additionally, such Non-GAAP financial
measure should not be considered a substitute for net income per
diluted share as calculated under U.S. generally accepted
accounting principles and may not be comparable to similarly titled
measures of other companies.
(2) The Company has presented adjusted EBIT for the periods
covered by this press release, which measure is a Non-GAAP
financial measure. The Company’s management believes it is useful
to exclude acquired intangible asset amortization expense, other
pension expense (income) for U.S. pension plans, rationalization
charges and the charge for the European Commission settlement from
EBIT for the Company and each of its segments as calculated under
U.S. generally accepted accounting principles because such Non-GAAP
financial measure allows for a more appropriate evaluation of
operating results. Acquired intangible asset amortization expense
is a non-cash expense related to acquired operations that
management believes is not indicative of the on-going performance
of the acquired operations. Since the Company's U.S. pension plans
are significantly over funded and have no required cash
contributions for the foreseeable future based on current
regulations, management views other pension expense (income) from
the Company's U.S. pension plans, which excludes service costs, as
not reflective of the operational performance of the Company or its
segments. While rationalization costs are incurred on a regular
basis, management views these costs more as an investment to
generate savings rather than period costs. The charge for the
European Commission settlement is non-recurring and non-operational
and relates to prior years and is not indicative of the on-going
cost structure of the Company. Such Non-GAAP financial measure is
not in accordance with U.S. generally accepted accounting
principles and should not be considered in isolation but should be
read in conjunction with the unaudited condensed consolidated
statements of income and the other information presented herein.
Additionally, such Non-GAAP financial measure should not be
considered a substitute for income before interest and income taxes
(EBIT) as calculated under U.S. generally accepted accounting
principles and may not be comparable to similarly titled measures
of other companies.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231025208900/en/
Alexander Hutter Vice President, Investor Relations
AHutter@silgan.com 203-406-3187
Grafico Azioni Silgan (NYSE:SLGN)
Storico
Da Dic 2024 a Gen 2025
Grafico Azioni Silgan (NYSE:SLGN)
Storico
Da Gen 2024 a Gen 2025
