Rigid packaging solutions manufacturer Silgan Holdings (NYSE: SLGN) will be reporting earnings this Wednesday before market open. Here’s what investors should know.
Silgan Holdings missed analysts’ revenue expectations by 0.6% last quarter, reporting revenues of $1.47 billion, up 11.4% year on year. It was a slower quarter for the company, with a slight miss of analysts’ organic revenue estimates and a slight miss of analysts’ EBITDA estimates.
Is Silgan Holdings a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Silgan Holdings’s revenue to grow 10.8% year on year to $1.53 billion, a reversal from the 3.2% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.03 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
Looking at Silgan Holdings’s peers in the industrial packaging segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Crown Holdings delivered year-on-year revenue growth of 3.6%, beating analysts’ expectations by 0.9%, and Avery Dennison reported flat revenue, falling short of estimates by 0.9%. Crown Holdings’s stock price was unchanged after the resultsand Avery Dennison’s price followed a similar reaction.
Read our full analysis of Crown Holdings’s results here and Avery Dennison’s results here.
There has been positive sentiment among investors in the industrial packaging segment, with share prices up 6.5% on average over the last month. Silgan Holdings is up 2.4% during the same time and is heading into earnings with an average analyst price target of $62.45 (compared to the current share price of $55.47).
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