Rigid packaging solutions manufacturer Silgan Holdings (NYSE: SLGN) will be reporting earnings this Wednesday before market hours. Here’s what to expect.
Silgan Holdings beat analysts’ revenue expectations last quarter, reporting revenues of $1.47 billion, up 4.1% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ adjusted operating income estimates and a decent beat of analysts’ EBITDA estimates.
Is Silgan Holdings a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Silgan Holdings’s revenue to grow 2.6% year on year, slowing from the 11.4% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Silgan Holdings has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Silgan Holdings’s peers in the industrials segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Crown Holdings delivered year-on-year revenue growth of 12.9%, beating analysts’ expectations by 7.8%, and Packaging Corporation of America reported revenues up 10.6%, falling short of estimates by 2%. Packaging Corporation of America traded up 4.8% following the results.
Read our full analysis of Crown Holdings’s results here and Packaging Corporation of America’s results here.
There has been positive sentiment among investors in the industrials segment, with share prices up 15.1% on average over the last month. Silgan Holdings is up 3.1% during the same time and is heading into earnings with an average analyst price target of $53.92 (compared to the current share price of $39.07).
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