Silgan Holdings Inc. (SLGN - Free Report) reported third-quarter 2020 record adjusted earnings of $1.01 per share, beating the Zacks Consensus Estimate of 95 cents. The bottom line also improved 37% year over year. Solid demand across food, health and hygiene products, and contributions from the recent acquisitions of Cobra Plastics and the dispensing operations of Albéa led to the improved results.
Despite the better-than-expected third-quarter results, Silgan’s shares have lost 3% since. The decline can primarily be attributed to weaker-than-expected fourth-quarter guidance. Notably, the company expects fourth-quarter 2020 adjusted earnings per share in the range of 47 cents to 52 cents, which is lower than the current Zacks Consensus Estimate of 53 cents. Further, its guidance for 2020 factors in strong demand for home food consumption, household cleaning and hygiene products and anticipates the earnings growth momentum to continue in 2021. Considering that the demand for these goods have surged amid the pandemic, it might return to normal levels once the situation stabilizes.
Including one-time items, the company’s earnings per share was $1.01 compared with the prior-year quarter’s 73 cents.
Total revenues for the manufacturer of sustainable rigid packaging solutions for consumer goods increased 13% year over year to $1,489 million on higher sales across its business segments. Further, the top line surpassed the Zacks Consensus Estimate of $1,454 million.
Silgan Holdings Inc. Price, Consensus and EPS Surprise
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Silgan Holdings Inc. (SLGN - Free Report) reported third-quarter 2020 record adjusted earnings of $1.01 per share, beating the Zacks Consensus Estimate of 95 cents. The bottom line also improved 37% year over year. Solid demand across food, health and hygiene products, and contributions from the recent acquisitions of Cobra Plastics and the dispensing operations of Albéa led to the improved results.
Despite the better-than-expected third-quarter results, Silgan’s shares have lost 3% since. The decline can primarily be attributed to weaker-than-expected fourth-quarter guidance. Notably, the company expects fourth-quarter 2020 adjusted earnings per share in the range of 47 cents to 52 cents, which is lower than the current Zacks Consensus Estimate of 53 cents. Further, its guidance for 2020 factors in strong demand for home food consumption, household cleaning and hygiene products and anticipates the earnings growth momentum to continue in 2021. Considering that the demand for these goods have surged amid the pandemic, it might return to normal levels once the situation stabilizes.
Including one-time items, the company’s earnings per share was $1.01 compared with the prior-year quarter’s 73 cents.
Total revenues for the manufacturer of sustainable rigid packaging solutions for consumer goods increased 13% year over year to $1,489 million on higher sales across its business segments. Further, the top line surpassed the Zacks Consensus Estimate of $1,454 million.
Silgan Holdings Inc. Price, Consensus and EPS Surprise
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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