Silgan Holdings reported second-quarter revenue of $1.64 billion, beating analyst estimates of $1.61 billion and growing 6.8% year on year, while adjusted earnings per share of $0.98 also exceeded the $0.96 consensus. However, operating margin fell to 9.2% from 10.9% a year earlier, and management cited a 15% volume decline in Brazil within the Dispensing and Specialty Closures segment as a significant drag on profitability. Strength in fine fragrance dispensing products, particularly in Europe, provided a bright spot, with high single-digit growth expected to continue. The Metal Containers segment saw 7% growth in wet pet food container volumes but double-digit declines in vegetable and soup cans due to customer order pattern shifts. Silgan reiterated its full-year adjusted EPS guidance of $3.83 at the midpoint and highlighted plans to double its healthcare segment sales organically in three to five years.
Silgan Holdings IncOperating margin fell to 9.2% from 10.9% and Brazil volume declined 15%, pressuring profitability despite revenue and EPS beats.