Silgan Holdings set for worst fall in about 21 years on bleak 2023 outlook

Silgan Holdings

26/07/2023 17:28

** Shares of packaging solutions supplier Silgan Holdings
 SLGN.N  fall 13.6% to $42.20, their lowest in over 9 months
    ** Co reduces 2023 adj. EPS range to $3.40 to $3.60 from
$3.95 to $4.15
    ** For Q3, co sees low-single-digit organic volume growth in
dispensing and specialty closures segment and flat volumes in
metal containers segment
    ** Stock set to post worst day since 2002, if losses
continue
    ** Co posts Q2 adj. EPS of 83 cents​​ on revenue of $1.43
bln, both lower than analysts' estimates 
    ** Says hurt by inflation at retail level affecting consumer
buying habits
    ** Stock down 18.3% YTD

 (Reporting by Sruthi Narasimha Chari in Bengaluru)
 ((Sruthinarasimha.chari@thomsonreuters.com))