SILGAN HOLDINGS INC Q3 FY25 Results

"Our third quarter results continued to exhibit the success of our strategic growth initiatives, the resilience of our business through dynamic customer and end market conditions and the benefits of our disciplined capital deployment model, as we delivered 11% Adjusted EBITDA growth in the quarter. The strength and focus of our teams, our market leading innovation and the power of our diverse portfolio continue to set us apart in the markets we serve, and our long-term customer partnerships continue to strengthen as we expand our capabilities across consumer packaging." "Our third quarter performance was consistent with our expectations, with continued strong organic growth in dispensing products and metal containers for pet food markets, which was partially offset by the isolated headwinds that we identified entering the quarter. Our Dispensing and Specialty Closures segment delivered another quarter of record performance with Adjusted EBIT growth of 19% driven by the successful integration of the Weener acquisition and continued growth in high value fragrance dispensing products, and our teams successfully navigated the anticipated impact of lower closure volumes for beverage products in North America. Our Metal Containers business performed well and delivered mid-single digit volume growth in the quarter with double digit growth in pet food products. In Custom Containers, we achieved record third quarter Adjusted EBIT by continuing to deliver value through our best-in-class service model to our customers resulting in 4% volume improvement on a comparable basis and by continued execution on our cost reduction plans." "Our business continues to perform well and has delivered 10% adjusted EPS growth year to date, as the evolution of our portfolio has continued to deliver organic growth and margin enhancement. We continue to see significant opportunity to expand our high value, high growth dispensing business 1 both organically and through value and earnings accretive capital deployment and are seeing incremental organic growth opportunities as a result of the Weener acquisition. As we enter the fourth quarter, we continue to see strong organic growth in our products for fragrance and pet care markets, but now expect lower volumes for certain products for personal care and home care markets in North America as our customers manage inventory levels into year end. As a result, we now expect a higher than anticipated tax rate in 2025 in addition to incremental interest expense related to the recent euro bond issuance. While the developments in the market backdrop in 2025 have been more challenging than we anticipated entering the year, one of the hallmarks of Silgan is our resilient performance in the face of challenging market conditions. We continue to believe our portfolio of consumer staple products remains well positioned to outpace growth in our end markets, and our Company is poised to deliver earnings growth again in 2026 and beyond."