FONT-SIZE Plus   Neg

Silgan Holdings Q1 Profit Rises

Silgan Holdings Inc. (SLGN) Thursday reported an increase in profit for the first quarter, due mainly to higher revenues.

The Stamford, Connecticut-based company reported first-quarter net profit of $32.8 million or $0.47 per share, compared to $26.1 million or $0.37 per share last year.

Adjusted earnings for the quarter rose to $0.50 per share from $0.41 per share in the prior-year quarter. On average, 12 analysts polled by Thomson Reuters expected the company to earn $0.46 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter grew 9.3 percent to $768.4 million from $703.1 million in the prior-year quarter. Nine analysts had a consensus revenue estimate of $785.92 million for the quarter.

Looking ahead, the company expects second-quarter adjusted earnings of $0.55 to $0.60 per share. Analysts currently expect the company to earn $0.57 per share for the quarter.

The company confirmed its full-year 2012 earnings guidance in the range of $2.80 to $2.90 per share. Analysts currently expect earnings of $2.88 per share for the year.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Consumer goods giant Procter & Gamble Co. on Tuesday reported a 4 percent increase in profit for the first quarter from last year on a slight decline in sales. However, both revenue and core earnings per share for the quarter beat analysts' estimates. In addition, the company affirmed its financial outlook for fiscal 2017. Merck & Co. Inc. (MRK) reported a profit for the third-quarter that increased about 20 percent, while quarterly worldwide sales grew 5 percent. The company raised its full-year 2016 outlook. Drug maker Eli Lilly and Co. reported Tuesday lower profit in its third quarter, despite higher revenues. Adjusted earnings per share and top line missed analysts' estimates. Further, for fiscal 2016, the company trimmed its forecast for reported earnings, while maintained adjusted earnings view, and raised revenue forecast.
comments powered by Disqus
Follow RTT