Silgan Expects Q1 Adj. EPS Of $0.60-$0.70, Est. $0.72; FY24 Adj. EPS of $3.55-$3.75, Est. $3.61
Portfolio Pulse from Benzinga Newsdesk
Silgan Holdings Inc. forecasts Q1 adjusted EPS of $0.60-$0.70, below the estimate of $0.72. For FY24, the adjusted EPS is projected at $3.55-$3.75, around the estimate of $3.61. The company anticipates a continued impact from customer destocking, leading to volume declines in its business segments compared to the previous year.
January 31, 2024 | 12:19 pm
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NEGATIVE IMPACT
Silgan Holdings Inc. expects a lower Q1 adjusted EPS than analysts' estimates and predicts volume declines in its segments due to customer destocking, which may negatively impact the stock price in the short term.
The company's forecast of a lower Q1 adjusted EPS than the market estimate is likely to be viewed negatively by investors, as it suggests potential underperformance. The anticipated volume declines due to customer destocking further reinforce the expectation of a negative short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100