Rigid packaging solutions manufacturer Silgan Holdings (NYSE: SLGN) will be reporting earnings tomorrow before market hours. Here’s what to look for.
Silgan Holdings met analysts’ revenue expectations last quarter, reporting revenues of $1.41 billion, up 5.3% year on year. It was a slower quarter for the company, with a significant miss of analysts’ adjusted operating income 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 12.1% year on year to $1.48 billion, a reversal from the 7.1% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.79 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 Q1 results, giving us a hint as to what we can expect. Crown Holdings delivered year-on-year revenue growth of 3.7%, beating analysts’ expectations by 1.5%, and Packaging Corporation of America reported revenues up 8.2%, topping estimates by 1.5%. Packaging Corporation of America traded down 1.1% following the results.
Read our full analysis of Crown Holdings’s results here and Packaging Corporation of America’s results here.
Investors in the industrial packaging segment have had fairly steady hands going into earnings, with share prices down 1.3% on average over the last month. Silgan Holdings is up 1.3% during the same time and is heading into earnings with an average analyst price target of $58.63 (compared to the current share price of $51.80).
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