Silgan Holdings Q2 2024: $2.58B in Sales
Ticker: SLGN · Form: 10-Q · Filed: Aug 8, 2024
Sentiment: neutral
Topics: 10-Q, financials, manufacturing
TL;DR
Silgan Holdings Q2 sales hit $2.58B. Business as usual in metal cans.
AI Summary
Silgan Holdings Inc. reported its second quarter 2024 results, with net sales for the six months ended June 30, 2024, totaling $2.58 billion. The company's financial performance reflects ongoing operations in the metal cans industry. Specific details on profitability and cash flow for the period are available within the full filing.
Why It Matters
This filing provides insight into the financial health and operational performance of Silgan Holdings Inc., a key player in the metal packaging industry, impacting suppliers and customers.
Risk Assessment
Risk Level: medium — The filing details financial performance and operational risks inherent in the manufacturing and packaging sector.
Key Numbers
- $2.58B — Net Sales (Six months ended June 30, 2024)
Key Players & Entities
- SILGAN HOLDINGS INC (company) — Filer
- 20240630 (date) — Period of Report
- $2.58 billion (dollar_amount) — Net Sales for six months ended June 30, 2024
FAQ
What were Silgan Holdings Inc.'s total net sales for the six months ended June 30, 2024?
Silgan Holdings Inc.'s total net sales for the six months ended June 30, 2024, were $2.58 billion.
What is the filing date for this 10-Q report?
This 10-Q report was filed on August 8, 2024.
What is the fiscal year end for Silgan Holdings Inc.?
Silgan Holdings Inc.'s fiscal year ends on December 31.
What is the Standard Industrial Classification code for Silgan Holdings Inc.?
The Standard Industrial Classification code for Silgan Holdings Inc. is 3411, which corresponds to Metal Cans.
What was the reporting period for this 10-Q filing?
The conformed period of report for this 10-Q filing was June 30, 2024.
Filing Stats: 4,689 words · 19 min read · ~16 pages · Grade level 12.9 · Accepted 2024-08-08 10:40:48
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share SLGN New York Stock Exchange
Filing Documents
- slgn-20240630.htm (10-Q) — 969KB
- exhibit316-30x2024.htm (EX-3.1) — 10KB
- exhibit3116-30x2024.htm (EX-31.1) — 15KB
- exhibit3126-30x2024.htm (EX-31.2) — 15KB
- exhibit3216-30x2024.htm (EX-32.1) — 5KB
- exhibit3226-30x2024.htm (EX-32.2) — 5KB
- 0000849869-24-000128.txt ( ) — 5090KB
- slgn-20240630.xsd (EX-101.SCH) — 34KB
- slgn-20240630_cal.xml (EX-101.CAL) — 59KB
- slgn-20240630_def.xml (EX-101.DEF) — 168KB
- slgn-20240630_lab.xml (EX-101.LAB) — 383KB
- slgn-20240630_pre.xml (EX-101.PRE) — 283KB
- slgn-20240630_htm.xml (XML) — 731KB
Financial Information
Part I. Financial Information 3
Financial Statements
Item 1. Financial Statements 3 Condensed Consolidated Balance Sheets at June 30 , 2024 and 2023 and December 31, 2023 3 Condensed Consolidated Statements of Income for the three and six months ended June 30 , 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Income for the three and six months ended June 30 , 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the six months ended June 30 , 2024 and 2023 6 Condensed Consolidated Statements of Stockholders' Equity for the three and six months ended June 30 , 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements 8
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 18
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 28
Controls and Procedures
Item 4. Controls and Procedures 28
Other Information
Part II. Other Information 29
Exhibits
Item 6. Exhibits 29
Signatures
Signatures 30 -2-
Financial Information
Part I. Financial Information
Financial Statements
Item 1. Financial Statements SILGAN HOLDINGS INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in thousands) June 30, 2024 June 30, 2023 Dec. 31, 2023 (unaudited) (unaudited) Assets Current assets: Cash and cash equivalents $ 302,795 $ 236,606 $ 642,923 Trade accounts receivable, net 1,056,785 1,067,550 599,524 Inventories 1,005,589 1,251,544 940,808 Prepaid expenses and other current assets 173,464 142,757 165,727 Total current assets 2,538,633 2,698,457 2,348,982 Property, plant and equipment, net 1,933,591 1,934,187 1,961,585 Goodwill 1,987,284 2,007,388 2,018,241 Other intangible assets, net 685,043 745,275 721,023 Other assets, net 548,686 528,414 561,405 $ 7,693,237 $ 7,913,721 $ 7,611,236 Liabilities and Stockholders' Equity Current liabilities: Revolving loans and current portion of long-term debt $ 1,398,246 $ 811,387 $ 880,315 Trade accounts payable 658,118 751,758 1,075,913 Accrued payroll and related costs 100,663 94,961 97,886 Accrued liabilities 238,970 221,521 257,742 Total current liabilities 2,395,997 1,879,627 2,311,856 Long-term debt 2,530,718 3,351,176 2,546,451 Deferred income taxes 425,151 384,410 433,666 Other liabilities 407,681 427,372 429,905 Stockholders' equity: Common stock 1,751 1,751 1,751 Paid-in capital 360,344 345,442 353,848 Retained earnings 3,298,525 3,072,021 3,208,237 Accumulated other comprehensive loss ( 297,530 ) ( 279,554 ) ( 251,361 ) Treasury stock ( 1,429,400 ) ( 1,268,524 ) ( 1,423,117 ) Total stockholders' equity 1,933,690 1,871,136 1,889,358 $ 7,693,237 $ 7,913,721 $ 7,611,236 See accompanying notes. -3- SILGAN HOLDINGS INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME For the three and six months ended June 30, 2024 and 2023 (Dollars and shares in thousands, except per share amounts) (Unaudited) Three Months Ended Six Months Ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Net sales $ 1,381,365 $ 1,426,727 $ 2,698,403 $ 2,845,008 Cost of goods sold