SLGN · Silgan Holdings Inc.

Silgan Holdings reported first quarter 2026 results that were at the high end of management's expected range. Net sales increased 6% to $1.56 billion, primarily due to the contractual pass-through of higher raw material costs. GAAP diluted EPS was $0.60, down from $0.63 in the prior year quarter, while adjusted diluted EPS was $0.78, compared to $0.82 in Q1 2025. The Dispensing and Specialty Closures segment saw net sales rise 2% to $685.3 million, with double-digit volume growth in fragrance and beauty markets, partially offset by severe weather impacts. Metal Containers net sales grew 15% to $724.9 million, driven by double-digit volume growth in pet food markets and pass-through of higher costs. Custom Containers net sales declined 10% to $151.1 million due to the exit of lower-margin business and customer destocking. Management raised full-year 2026 adjusted EPS guidance to $3.73-$3.93 from $3.70-$3.90, reflecting confidence in the business outlook. Free cash flow guidance was confirmed at approximately $450 million. The company also provided Q2 2026 adjusted EPS guidance of $0.92-$1.02, compared to $1.01 in Q2 2025. President and CEO Adam Greenlee highlighted the company's resilient performance and strategic growth initiatives, noting that the Dispensing business remains advantaged and that Metal Containers showed strong growth despite raw material cost inflation.