Record Adjusted EBIT and EBITDA
Silgan Holdings reported record adjusted EBIT for the quarter at $193 million, an increase of 17% year-over-year. The company also expects to exceed $1 billion in adjusted EBITDA for the first time in its history by the end of 2025.
Strong Performance in Dispensing and Specialty Closures
The Dispensing and Specialty Closures segment saw sales increase by 24% compared to the prior year, driven by the integration of Weener and higher organic volumes. The segment recorded a 16% increase in adjusted EBIT.
Growth in Pet Food Metal Containers
The Metal Containers segment experienced mid-single-digit volume growth in pet food, contributing to a 21% increase in adjusted EBIT for the quarter.
Successful Cost Reduction Initiatives
The company reported an expansion in adjusted EBIT margins by 190 basis points in Custom Containers due to cost reduction activities, alongside an 11% increase in adjusted EBIT.