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Silgan: 2Q Earnings Snapshot

STAMFORD, Conn. (AP) _ Silgan Holdings Inc. (SLGN) on Wednesday reported second-quarter earnings of $55.3 million.

On a per-share basis, the Stamford, Connecticut-based company said it had net income of 50 cents. Earnings, adjusted to extinguish debt, were 52 cents per share.

The results matched Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was also for earnings of 52 cents per share.

The packaging products supplier posted revenue of $1.06 billion in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $1.07 billion.

For the current quarter ending in October, Silgan expects its per-share earnings to range from 74 cents to 78 cents.

The company expects full-year earnings in the range of $2.03 to $2.13 per share.

Silgan shares have dropped 8.5 percent since the beginning of the year. The stock has decreased 15 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