Rigid packaging solutions manufacturer Silgan Holdings (NYSE:SLGN) will be reporting earnings tomorrow morning. Here’s what investors should know.
Silgan Holdings missed analysts’ revenue expectations by 3.4% last quarter, reporting revenues of $1.38 billion, down 3.2% year on year. It was a softer quarter for the company, with a miss of analysts’ organic revenue and EBITDA 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 1.4% year on year to $1.83 billion, a reversal from the 8.5% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.23 per share.
Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing 3 downward revisions over the last 30 days (we track 9 analysts).
Looking at Silgan Holdings’s peers in the industrial packaging segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Packaging Corporation of America delivered year-on-year revenue growth of 12.7%, beating analysts’ expectations by 4.4%, and Crown Holdings reported flat revenue, in line with consensus estimates. Packaging Corporation of America traded up 5.4% following the results while Crown Holdings was also up 4.2%.
Read our full analysis of Packaging Corporation of America’s results here and Crown Holdings’s results here.
Investors in the industrial packaging segment have had steady hands going into earnings, with share prices flat over the last month. Silgan Holdings is down 2.6% during the same time and is heading into earnings with an average analyst price target of $58.09 (compared to the current share price of $51.16).
Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefitting from the rise of AI, available to you FREE via this link.