Silgan Cuts FY23 Adj EPS Outlook To $3.30 to $3.40 From $3.40 - $3.60 Vs. $3.48 Est.
Portfolio Pulse from Benzinga Newsdesk
Silgan Holdings Inc. has revised its FY23 adjusted EPS outlook to $3.30 - $3.40, down from the previous estimate of $3.40 - $3.60. This is due to expected higher interest rates, customer destocking in food and beverage markets, and delays in the commercialization of new business. The company's FY22 adjusted net income per diluted share was a record $4.01.
October 25, 2023 | 10:59 am
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Silgan Holdings' revised FY23 EPS outlook is lower than previously estimated, which could negatively impact the company's stock price in the short term.
The company's revised FY23 EPS outlook is lower than previously estimated due to expected higher interest rates and customer destocking. This could lead to a decrease in investor confidence and a potential drop in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100