Company: SLGN
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000849869-25-000072
Chunk: 32

Company: SILGAN HOLDINGS INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 32
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 fragrance and beauty, food, beverage, personal and health care, home care and lawn and garden markets; steel and aluminum containers for pet and human food and general line products; and custom designed plastic containers for the pet and human food, consumer health and pharmaceutical, personal care, home care, lawn and garden and automotive markets. We are a leading worldwide manufacturer of dispensing and specialty closures, a leading manufacturer of metal containers in North America and Europe, and a leading manufacturer of custom containers in North America for a variety of markets.

Our objective is to increase shareholder value by efficiently deploying capital and management resources to grow our business, reduce operating costs and build sustainable competitive positions, or franchises, and to complete acquisitions that generate attractive cash returns.  We have grown our net sales and income from operations largely through acquisitions but also through internal growth, and we continue to evaluate acquisition opportunities in the consumer goods packaging market. If acquisition opportunities are not identified over a longer period of time, we may use our cash flow to repay debt, repurchase shares of our common stock or increase dividends to our stockholders or for other permitted purposes.

In October 2024, we acquired Weener Plastics Holding B.V., or Weener Packaging.  Weener Packaging's results of operations are included in our dispensing and specialty closures segment.

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RESULTS OF OPERATIONS

The following table sets forth certain unaudited income statement data expressed as a percentage of net sales for the three months ended March 31: 

20252024Net salesDispensing and Specialty Closures45.8 %40.7 %Metal Containers42.8 46.9 Custom Containers11.4 12.4 Consolidated100.0 100.0 Cost of goods sold81.6 83.0 Gross profit18.4 17.0 Selling, general and administrative expenses8.8 7.6 Rationalization charges0.7 0.9 Other pension and postretirement income— — Income before interest and income taxes8.9 8.5 Interest and other debt expense3.0 2.9 Income before income taxes5.9 5.6 Provision for income taxes1.4 1.4 Income before equity in earnings of affiliates4.5 4.2 Equity in earnings of affiliates, net of tax0.1 — Net income4.6 %4.2 %