Silgan Holdings Inc. (NYSE: SLGN), a leading supplier of sustainable rigid packaging solutions for the world’s essential consumer goods products, today reported second quarter 2024 net sales of $1.38 billion and net income of $76.1 million, or $0.71 per diluted share, as compared to second quarter 2023 net sales of $1.43 billion and net income of $78.9 million, or $0.71 per diluted share.
“The Silgan team delivered solid second quarter results that were above the midpoint of our guidance range, as our business continues to show strength and improving year-over-year trends,” said Adam Greenlee, President and CEO. “Our global dispensing business remains a bright spot and continues to benefit from our market leading innovation, strong end market demand and the commercialization of new business wins that all contributed to drive double digit growth for our dispensing products and more than 20% higher Adjusted EBIT in our Dispensing and Specialty Closures business year-over-year. We are encouraged that volume trends for our products across our businesses have continued to improve sequentially and showed positive year-over-year growth in the second quarter, signaling the conclusion of our food and beverage customers’ destocking activities that began this time last year. Our Metal Containers business remains well positioned to grow alongside our long-term customers in the pet food industry, and in our Custom Containers business we benefited from the early commercialization of the new business award. Overall, we continue to see positive year-over-year momentum in our business, and our long-term strategic priorities remain on track to drive organic growth and margin improvement in 2024,” continued Mr. Greenlee.