Silgan Holdings Inc

Latest Results (05.01.2026):

Silgan Holdings Inc.'s third quarter of 2025 results showed continued top-line and adjusted-profitability momentum: net sales were $2.01 billion (up 15% year-over-year) and GAAP net income was $113.3 million ($1.06 diluted). Adjusted net income per diluted share was $1.22 (up 1% year-over-year) and the company reported an 11% increase in Adjusted EBITDA for the quarter. The quarter benefited from the recently completed Weener acquisition, strong dispensing and pet-food demand, and confirmed free cash flow guidance for 2025.

Net sales and GAAP earnings

Q3 2025 net sales: $2,008.7 million (15% YoY). GAAP net income: $113.3 million; diluted EPS $1.06 (vs $0.93 in Q3 2024).

Adjusted EPS and Non-GAAP reconciliation

Adjusted net income per diluted share (Non‑GAAP) for Q3 2025 was $1.22 vs $1.21 in Q3 2024 (a 1% increase). Adjustments included intangible amortization, pension items and rationalization charges; details are in the company’s Table A.

Segment — Dispensing & Specialty Closures

Dispensing and Specialty Closures net sales: $690.4 million (up 23% YoY). Adjusted EBIT hit a record quarterly $113.5 million (up 19%), driven by the Weener acquisition and strong organic fragrance dispensing volumes; North American beverage closure volumes were ~5% below prior year.

Segment — Metal Containers

Metal Containers net sales: $1,158.2 million (up 13% YoY). Volumes were ~4% higher overall with double-digit growth in pet food; Adjusted EBIT modestly declined to $95.8 million (down $1.3 million) due to less favorable price/cost mix despite higher volumes.

Segment — Custom Containers

Custom Containers net sales: $160.1 million (flat YoY). Adjusted EBIT rose to $23.1 million (record for Q3) as price/cost mix improvements and lower SG&A offset the exit of lower-margin business; comparable volumes improved ~4% excluding exited business.

Profitability and cash flow metrics

Total Adjusted EBITDA for the quarter was $288.3 million (11% growth YoY). Silgan confirmed 2025 free cash flow guidance of $430 million and expects capital expenditures of ~ $300 million for the year.

Capital structure, interest and tax

Total debt (current and long‑term) rose to $4,947.2 million as of Sept. 30, 2025 (reflecting Weener and euro notes issuance). Q3 interest and other debt expense was $50.0 million (up $8.1 million YoY). Q3 effective tax rate was 24.3%; the company now expects a 2025 adjusted tax rate of ~24.5%.

Shareholder returns and capital deployment

Year-to-date returns to shareholders exceeded $120 million via share repurchases and dividends. The company repurchased shares in Q3 and paid quarterly dividends ($0.20 per share in the quarter).

Outlook and guidance changes

Silgan revised full‑year 2025 adjusted diluted EPS from $3.85–$4.05 to $3.66–$3.76 (midpoint still above 2024). Q4 2025 adjusted EPS guidance is $0.62–$0.72 (versus $0.85 in Q4 2024), with the reduction driven by lower expected volumes in some North American personal/home care products, higher tax rate (~$0.10 impact per share) and incremental interest (~$0.03 impact per share).