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Silgan: 1Q Earnings Snapshot

STAMFORD, Conn. (AP) _ Silgan Holdings Inc. (SLGN) on Wednesday reported first-quarter earnings of $46.7 million.

The Stamford, Connecticut-based company said it had net income of 42 cents per share. Earnings, adjusted for non-recurring costs, were 46 cents per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.

The packaging products supplier posted revenue of $1.03 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $998 million.

For the current quarter ending in July, Silgan expects its per-share earnings to range from 51 cents to 56 cents.

The company expects full-year earnings in the range of $2.10 to $2.20 per share.

Silgan shares have risen 29 percent since the beginning of the year. The stock has climbed 12 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SLGN at https://www.zacks.com/ap/SLGN