Silgan: 2Q Earnings Snapshot
STAMFORD, Conn. (AP) _ Silgan Holdings Inc. (SLGN) on Wednesday reported second-quarter profit of $31 million.
The Stamford, Connecticut-based company said it had net income of 28 cents per share. Earnings, adjusted for non-recurring costs, were 55 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.
The packaging products supplier posted revenue of $1.09 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $1.08 billion.
For the current quarter ending in October, Silgan expects its per-share earnings to range from 73 cents to 78 cents.
The company expects full-year earnings in the range of $2.10 to $2.20 per share.
Silgan shares have increased 28% since the beginning of the year. The stock has increased 14% in the last 12 months.