SLGN earnings analysis
What we found in SLGN's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Silgan Holdings Inc. reported Q1 2026 results with revenue of $1.56 billion, up 6.4% year-over-year, and EPS of $0.78, exceeding analyst expectations. Segment performance varied, with growth in Metal Containers offset by declines in Custom Containers, leading to a modest decrease in gross margin due to higher costs and product mix issues.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth of 6.4%
- Consolidated net sales increased to $1.56 billion, up $94.6 million compared to Q1 2025.
- EPS Surprise
- Reported diluted EPS of $0.78, exceeding estimates of $0.74.
- Strong Performance in Metal Containers
- Net sales grew 15.4% to $724.9 million, driven by higher unit volumes and foreign currency effects.
- Increased Free Cash Flow Guidance
- Management confirmed free cash flow guidance for 2026 at approximately $450 million.
- Reduction in SG&A as % of Sales
- SG&A expenses fell to 8.4% of sales from 8.8% compared to last year.
- Stable Capital Allocation
- Management continues to evaluate acquisition opportunities while maintaining shareholder returns.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Raw Material Inflation
- The company noted inflation in raw materials impacting cost structures and margins.
- Volume Declines in Key Segments
- Custom Containers experienced a 9.6% decline in sales due to lower demand and customer destocking.
- Geographical Profit Mix Risk
- Changes in geographic profit distribution increased the effective tax rate to 26.5%, up from 23.8%.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.78
- Gross margin
- 17.0%
- Operating margin
- 8.1%
- Segment
- Dispensing and Specialty Closures: $685.3M
- Segment
- Metal Containers: $724.9M
- Segment
- Custom Containers: $151.1M
What they said about what is next.
Management raised full-year adjusted EPS guidance range to $3.73-$3.93.
The filing reads better than the one before it.
What came before.
- 10-K · February 26, 2026
- Silgan reports consolidated net sales of approximately $6.5 billion in 2025, driven by strength in metal containers ($3.1 billion) and dispensing & specialty closures ($2.7 billion). Management completed a $50 million…
- 10-Q · November 5, 2025
- Silgan reported Q3 net sales of $2,008,739 (thousands) and diluted EPS of $1.06, both up year-over-year. Revenue grew across all reportable segments (notably Europe/Other) while gross margin tightened slightly to 16.3%…
- 10-Q · August 7, 2025
- Silgan reported Q2 net sales of $1,539,161,000 (up $157,796,000 or ~11.4% YoY) with gross profit of $299,091,000 (gross margin ~19.4%) and operating income of $167,531,000 (operating margin ~10.9%). Diluted EPS rose to…
- 10-Q · May 8, 2025
- Silgan reported Q1 net sales of $1,466,661,000, up $149,623,000 (11.4%) versus $1,317,038,000 a year ago, with gross margin expanding to 18.4% and diluted EPS rising to $0.63 from $0.52. Adjusted EBIT increased to…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
Read the next one first.
We read every filing SLGN makes the day it lands, and put it next to what the options market did about it. Members get both, and an alert when a filing arrives.
Cancel anytime · Month to month · Switch tiers whenever