Silgan Holdings Inc. (NASDAQ:SLGN) reported its second quarter earnings results on Wednesday 22nd July 2020 before market open.
The manufacturer of rigid packaging, reported $ 0.70 income per share for the quarter.
On adjusted basis, Silgan Holdings Inc. reported income for the quarter of $ 0.85 per share, beat the consensus estimate of $ 0.65 income per share by $ 0.2 or 30.77 percent.
The quarterly earnings increased 150.00 percent compared with the same quarter last year.
The firm had revenue of $ 1,176.50 million for the quarter, compared to the consensus estimate of $ 1121.43 million. The revenues outshined analysts estimates by $ 55.07 million or 4.91 percent.
The financial report showed revenues elevated 7.62 percent versus second quarter of last year.
Moving forward, the company announced 3Q20 earnings estimate to a range of $ 0.85 ~ $ 1.00 per share, where as Wall street analysts expected 3Q20 income of $ 0.80 per share on revenue of $ 1369.82 million.
Further, As a result of Silgan Holdings strong year-to-date performance and current demand levels for the products, the company increased 2020 earnings estimate from the previous range of $ 2.30 ~ $ 2.50 per share to a new range $ 2.70 ~ $ 2.85 per share.
The consensus estimates for 2020 are income of $ 2.45 per share from $ 4609.46 million in revenue.
Analysts estimates are from Thompson Reuters, exclude one time gain or loss
