silgan holdings inc (SLGN) Key Developments
Silgan Holdings Inc. Presents at Citi Basic Materials Conference 2014, Dec-03-2014 11:00 AM
Nov 18 14
Silgan Holdings Inc. Presents at Citi Basic Materials Conference 2014, Dec-03-2014 11:00 AM. Venue: Ritz Carlton New York, Battery Park, Two West Street, New York, NY 10004, United States. Speakers: Robert B. Lewis, Chief Financial Officer, Principal Accounting Officer and Executive Vice President.
Weener Plastik Reportedly On The Block
Nov 12 14
Lindsay Goldberg has put Weener Plastik AG up for sale. The sale could fetch around EU 400 million, two people familiar with the matter said. Clayton, Dubilier & Rice, Inc., Ardian, Charterhouse Capital Partners LLP and Bain Capital Private Equity have handed tentative bids for Weener, the sources said. They added the offers valued Weener Plastik at roughly 8 times its earnings. Silgan Holdings Inc. (NasdaqGS:SLGN), Berry Plastics Group, Inc. (NYSE:Berry), RPC Group Plc (LSE:RPC), ALPLA Werke Alwin Lehner GmbH & Co KG and Lawco have also shown interest, the sources said. Lindsay has appointed Macquarie to handle the sale. Reuters added that Macquarie and the private equity groups declined to comment.
Silgan Holdings Inc. Declares Quarterly Dividend, Payable on December 15, 2014
Nov 6 14
Silgan Holdings Inc. announced that its Board of Directors has declared a quarterly cash dividend on its common stock. The Board of Directors approved a $0.15 per share quarterly cash dividend, payable on December 15, 2014 to the holders of record of common stock of the Company on December 1, 2014.
Silgan Holdings Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Revises Earnings Guidance for the Full Year of 2014; Provides Earnings Guidance for the Fourth Quarter of 2014
Oct 22 14
Silgan Holdings Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net income of $83.3 million, or $1.31 per diluted share, as compared to third quarter 2013 net income of $77.2 million, or $1.21 per diluted share. Adjusted net income per diluted share was $1.33 as compared to $1.23 for the third quarter of 2013. Net sales were $1,228.4 million, an increase of $60.5 million, or 5.2% as compared to $1,167.9 million in 2013. This increase was the result of an increase in net sales in the closures and plastic container businesses, partially offset by lower net sales in the metal container business. Income from operations was $147.7 million, an increase of $11.8 million, or 8.7% as compared to $135.9 million for the third quarter of 2013. The increase in income from operations was a result of higher income from operations across all businesses. The company reported income before income taxes of $128.4 million compared to $118.9 million for the last year. Capital expenditures for the third quarter of 2014 totaled $34.3 million, compared to $26.9 million in the prior year quarter.
For the first nine months, net income was $158.8 million, or $2.49 per diluted share, as compared to net income for the first nine months of 2013 of $162.1 million, or $2.50 per diluted share. Adjusted net income per diluted share was $2.59 versus $2.33 in the prior year period, after adjustments increasing net income per diluted share by $0.10 for the first nine months of 2014 and adjustments decreasing net income per diluted share by $0.17 for the first nine months of 2013. Net sales increased $157.9 million, or 5.6% to $3.0 billion as compared to $2.84 billion for the first nine months of 2013. This increase was primarily the result of the inclusion of Portola Packaging, the pass through of higher raw material costs, the favorable impact of foreign currency translation and a favorable mix of products sold in the plastic container business. These increases were partially offset by the impact of lower unit volumes and customer contract renewals in the metal container business. Income from operations was $301.7 million, an increase of $32.8 million, or 12.2%, from $268.9 million in the same period in 2013. This increase was primarily a result of lower manufacturing and depreciation expenses, the inclusion of the operations of Portola Packaging, a smaller loss in Venezuela compared to the prior year period and a favorable mix of products sold in the plastic container business. The company reported income before income taxes of $243.3 million compared to $219.1 million, net cash used in operating activities of $52.6 million compared to net cash provided by operating activities of $1.0 million and capital expenditures of $94.3 million compared to $79.9 million for the last year.
The company narrowed its estimate of adjusted net income per diluted share for the full year of 2014 to a range of $3.10 to $3.20 from the previous range of $3.10 to $3.30. The company expected net income per diluted in the range of $2.96 to $3.06. The company continue to forecast free cash flow generation to be approximately $200 million as the company continue to invest in the areas that will benefit the company over the longer term, and the company continue to manage working capital to an efficient and sustainable level.
The company is providing an estimate of adjusted net income per diluted share for the fourth quarter of 2014 in the range of $0.51 to $0.61. This estimate compares to adjusted net income per diluted share of $0.40 in the fourth quarter of 2013. The company expected net income per diluted in the range of $0.47 to $0.57.
Silgan Holdings Inc., Q3 2014 Earnings Call, Oct 22, 2014
Sep 22 14
Silgan Holdings Inc., Q3 2014 Earnings Call, Oct 22, 2014