Silgan (US:SLGN)2025-10-29 20:30Financial Performance - Third quarter 2025 net sales were $2.01 billion, an increase of $263.6 million, or 15%, compared to $1.75 billion in the same period of 2024[2][8] - Net income for the third quarter of 2025 was $113.3 million, or $1.06 per diluted share, compared to $100.1 million, or $0.93 per diluted share in the third quarter of 2024[2] - Adjusted net income per diluted share for Q3 2025 increased 1% to $1.22, compared to $1.21 in Q3 2024[3] - Net sales for Q3 2025 reached $2,008.7 million, a 15.1% increase from $1,745.1 million in Q3 2024[34] - Gross profit for Q3 2025 was $327.3 million, up from $293.3 million in Q3 2024, reflecting a gross margin improvement[34] - Net income for the nine months ended September 30, 2025, was $270.2 million, compared to $231.3 million for the same period in 2024, representing a 16.8% increase[32] - Diluted earnings per share (EPS) for Q3 2025 was $1.06, compared to $0.93 in Q3 2024, marking a 14.0% increase[36] Segment Performance - The Dispensing and Specialty Closures segment achieved net sales of $690.4 million, a 23% increase from $563.7 million in Q3 2024[12] - Metal Containers segment net sales were $1.16 billion, up 13% from $1.02 billion in the prior year, driven by a 9% price/mix improvement[14] - Custom Containers segment net sales increased by 1% to $160.1 million, with a 4% volume improvement excluding lower margin business exits[16] - Income before interest and income taxes (EBIT) for Dispensing and Specialty Closures increased to $95.1 million in Q3 2025 from $74.7 million in Q3 2024, representing a growth of 27.4%[38] - Adjusted EBITDA for Dispensing and Specialty Closures reached $151.9 million in Q3 2025, up from $121.0 million in Q3 2024, reflecting a year-over-year increase of 25.5%[38] - Adjusted EBITDA for the Metal Containers segment was $115.7 million in Q3 2025, slightly down from $116.9 million in Q3 2024, indicating a decrease of 1.0%[38] Cash Flow and Expenses - The company confirmed a free cash flow estimate of $430 million for 2025, a 10% increase from $391.3 million in 2024[21] - Interest and other debt expense for 2025 is now estimated at approximately $190 million, up from $185 million, due to recent euro notes issuance[20] - Capital expenditures for the nine months ended September 30, 2025, were $235.8 million, compared to $192.0 million in the same period of 2024[31] - Cash and cash equivalents decreased to $389.2 million at the end of Q3 2025 from $822.9 million at the beginning of the year[31] Adjustments and Estimates - The adjusted net income per diluted share estimate for the full year 2025 was revised to a range of $3.66 to $3.76, reflecting lower volume expectations[18] - The estimated U.S. GAAP net income for 2025 is projected to be between $49.3 million and $59.9 million, compared to $45.1 million in 2024[40] - Non-U.S. GAAP adjusted net income for 2025 is estimated to be between $65.7 million and $76.3 million, up from $90.8 million in 2024[40] - The diluted EPS impact from adjustments for 2025 is estimated at $0.15, compared to $0.43 for 2024[40] Other Financial Metrics - Total assets as of September 30, 2025, were $9,498.2 million, up from $7,747.4 million as of September 30, 2024[30] - The company reported a consolidated EBIT of $198.7 million for Q3 2025, an increase from $167.3 million in Q3 2024[34] - Total Adjusted EBIT for the company was $221.4 million in Q3 2025, compared to $205.6 million in Q3 2024, marking an increase of 7.1%[38] - The company incurred rationalization charges of $3.4 million in Q3 2025, down from $9.8 million in Q3 2024, a decrease of 65.3%[38] - Rationalization charges for Q3 2025 were $7.2 million, down from $19.5 million in Q3 2024[36] - Total depreciation for the company increased to $66.9 million in Q3 2025 from $54.3 million in Q3 2024, reflecting a rise of 23.9%[38] - Adjusted EBITDA for Q3 2025 was $288.3 million, compared to $259.9 million in Q3 2024, which is an increase of 10.9%[38]