logo
Share SHARE
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
British lender Lloyds Banking Group Plc. Friday reported higher profit in its first half, benefited by increased net interest income and margin as well as lower impairment. Looking ahead, the company lifted its net interest margin forecast. Amgen reported an increase in second-quarter profit, driven by sales of arthritis drug Enbrel and osteoporosis treatments Xgeva and Prolia, and improved margins. Both earnings and sales topped Wall Street estimates. Electronic Arts Inc. (EA) on Thursday reported an increase in profit for the first quarter, reflecting continued strong digital revenues, with both earnings and revenues topping Wall Street estimates. However, shares of the company fell over 4 percent, after having detailed a weak outlook. Redwood...
comments powered by Disqus
RELATED NEWS
Trade SLGN now with 
Follow RTT