Company: SLGN
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000849869-25-000072
Chunk: 33

Company: SILGAN HOLDINGS INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 33
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Summary unaudited results of operations for the three months ended March 31 are provided below.

 20252024(dollars in millions)Net salesDispensing and Specialty Closures$671.1 $535.9 Metal Containers628.4 617.1 Custom Containers167.2 164.0 Consolidated$1,466.7 $1,317.0 Income before interest and income taxesDispensing and Specialty Closures$79.9 $59.7 Metal Containers44.7 41.7 Custom Containers22.1 17.8 Corporate(16.2)(7.5)Consolidated$130.5 $111.7 

Three Months Ended March 31, 2025 Compared with Three Months Ended March 31, 2024

Net Sales.  In the first quarter of 2025, consolidated net sales were $1.47 billion, an increase of $149.7 million, or 11.4 percent, as compared to the first quarter of 2024 primarily due to the inclusion of net sales from Weener Packaging, higher organic volumes across all segments and the pass through of higher raw material costs in the metal containers and custom containers segments, partially offset by the impact from unfavorable foreign currency translation of approximately $16 million.

Gross Profit.  Gross profit margin increased 1.4 percentage points to 18.4 percent in the first quarter of 2025 as compared to the same period in 2024 primarily for the reasons discussed below in "Income before Interest and Income Taxes."

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Selling, General and Administrative Expenses.  In the first quarter of 2025, selling, general and administrative expenses as a percentage of consolidated net sales increased to 8.8 percent as compared to 7.6 percent in the first quarter of 2024. For the first quarter of 2025, selling, general and administrative expenses increased $28.6 million to $129.1 million as compared to the first quarter of 2024. The increase in selling, general and administrative expenses was primarily due to the inclusion of selling, general and administrative expenses of Weener Packaging and higher expenses for corporate development activities.

Income before Interest and Income Taxes.  In the first quarter of 2025, income before interest and income taxes increased by $18.8 million to $130.5 million as compared to $111.7