US-based rigid packaging company Silgan Holdings has reported net sales of $1.97bn for the third quarter (Q3) of fiscal 2022 (FY22), up by 19.3% from $1.65bn in the same period of the prior fiscal year (FY21).
The company registered a record net income of $138.7m in the quarter, against $106.3m in Q3 2021.
Its earnings per diluted share (EPS) were $1.25, compared with $0.96 a year earlier while its adjusted EPS rose by 25% to $1.27.
Silgan Holdings president and CEO Adam Greenlee said: “The Silgan team continued to deliver new all-time record adjusted EPS in both the third quarter and year-to-date periods, with a 25% increase as compared to the prior year quarter and an over 20% increase for the year-to-date period.
“Each of our businesses continued to consistently and successfully execute our operating plans while deploying a best-in-class service model across a diverse portfolio of essential products that produced record results in the third quarter.”
Silgan Holdings’ net sales for the year to date have been $4.96bn, representing a 16.9% increase of $718.3m.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
The company has reported a record net income of $316.3m in this period, compared with $274.0m in the same period of FY21.
Its EPS for the first nine months were $2.85, against $2.47 a year earlier, while its adjusted EPS increased by 20% to a record $3.14.
For the full year, Silgan Holdings expects its adjusted EPS to be between $3.90 and $4.00. The company expects this to be in the range of $0.76 to $0.86 for the fourth quarter.
Greenlee added: “This will be the company’s sixth consecutive year of record earnings performance. In addition, we are maintaining our full-year 2022 free cash flow estimate of approximately $350m.”
Last month, Silgan Holdings’ subsidiary Silgan Dispensing introduced two dispensers designed to increase product sustainability and performance.