Silgan Q2 Adj. EPS Outlook $0.85 – $0.95 Vs. $1.02 Estimate

For the second quarter of 2023, the Company expects organic volume growth in its Dispensing and Specialty Closures segment driven by improving demand across major product categories and continued volume growth in the Metal Containers segment, offset by lower volumes in the Custom Containers segment. The Company is providing an estimate of adjusted net income per diluted share for the second quarter of 2023 in the range of $0.85 to $0.95, as compared to a record $1.09 in the second quarter of 2022. This anticipated year-over-year change is primarily due to higher interest expense of $0.10, non-recurring income associated with Russia of $0.06, and lower EBIT in the Custom Containers segment. Additionally, the second quarter of 2023 is expected to continue to be unfavorably impacted by the lagged pass through of resin cost escalation late in the first quarter of 2023. Adjusted net income per diluted share excludes certain items as outlined in Table C at the back of this press release.