Q3 2024 Silgan Holdings Inc Earnings Call Transcript
Key Points
- Silgan Holdings Inc (SLGN) successfully acquired Weener Packaging, adding approximately 4,000 new team members and advanced product and manufacturing technologies.
- The company reported strong volume trends and overall margin improvement, particularly in the dispensing products segment.
- Dispensing and specialty closures delivered record third-quarter adjusted EBIT with double-digit growth in global dispensing products.
- Silgan Holdings Inc (SLGN) extended its long-term exclusive supply relationship with its largest customer in the metal containers segment.
- The custom containers segment experienced 5% volume growth due to the commercialization of new business awards.
- Adjusted EPS results fell below the midpoint of expectations due to softer pack volumes in metal containers.
- Net sales declined by 3% from the prior year, primarily due to the pass-through of lower raw material costs.
- The metal containers segment faced historically low pack volumes due to adverse weather conditions affecting harvest yields.
- Promotional activity for isotonic beverages in North America was less impactful than anticipated, leading to prolonged recovery in volumes.
- The financial impact of lower pack volumes in metal containers negatively affected the company's overall mix and profitability.
Good day and welcome to the Silgan Holdings third-quarter 2024 earnings call.
Today's conference is being recorded.
At this time, I'd like to turn the conference over to Mr. Alex Hutter. Please go ahead.
Thank you and good morning.
Joining me on the call today are Adam Greenlee, President and CEO; Bob Lewis, EVP, Corporate Development and Administration; and Kim Ulmer, SVP and CFO.
Before we begin the call today, we would like to make it clear that certain statements made on this conference call may be forward-looking statements. These 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 2023 and other filings with the Securities and Exchange Commission. Therefore, the actual results of operations or financial condition of
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
