US – US-based rigid packaging company Silgan Holdings has reported net sales of US$1.97 billion for the third quarter (Q3) of fiscal 2022 (FY22), up by 19.3% from US$1.65 billion in the same period of the prior fiscal year (FY21).
The company has registered a record net income of US$138.7 million in the quarter, against US$106.3 million in Q3 2021.
Its earnings per diluted share (EPS) were US$1.25, compared with US$0.96 a year earlier while its adjusted EPS rose by 25% to US$1.27.
Silgan Holdings President and CEO Adam Greenlee said: “The Silgan team continued to deliver new all-time record adjusted EPS in both the third quarter and year-to-date periods, with a 25% increase as compared to the prior year quarter and an over 20% increase for the year-to-date period.
“Each of our businesses continued to consistently and successfully execute our operating plans while deploying a best-in-class service model across a diverse portfolio of essential products that produced record results in the third quarter.”
Silgan Holdings’ net sales for the year to date have been US$4.96 billion, representing a 16.9% increase of US$718.3 million.
The company has reported a record net income of US$316.3 million in this period, compared with US$274.0 million in the same period of FY21.
Its EPS for the first nine months was US$2.85, against US$2.47 a year earlier, while its adjusted EPS increased by 20% to a record US$3.14.
For the full year, Silgan Holdings expects its adjusted EPS to be between US$3.90 and US$4.00. The company expects this to be in the range of US$0.76 to US$0.86 for the fourth quarter.
Greenlee added: “This will be the company’s sixth consecutive year of record earnings performance. In addition, we are maintaining our full-year 2022 free cash flow estimate of approximately US$350 million.”
Silgan Dispensing introduces Gemini BE Nasal Pump
Meanwhile, the company’s subsidiary Silgan Dispensing has launched Gemini BE Nasal Pump to help pharmaceutical brands deliver faster-to-market nasal spray solutions.
Developed with Silgan Dispensing’s Bioequivalence (BE) Program, the Gemini BE Nasal Pump is adaptable to effectively match specific formulations for a perfect performance fit and quick time-to-market.
With an extensive five-stage custom process, Gemini allows for ultimate customizability with over 40 different spray configurations.
Allan Houston, Vice President of sales & marketing, healthcare at Silgan Dispensing said: “Bioequivalence testing helps our customers overcome regulatory and technical barriers that have previously slowed product commercialization.
“The Gemini BE Nasal Pump showcases our BE Program and Silgan Dispensing’s ability to deliver expedited nasal devices that fit our customer’s needs as a replacement or secondary supply chain option.”
Silgan Dispensing’s BE Program is aligned with U.S. FDA and EU methods – providing customers the confidence they require from a healthcare packaging supplier.
Additionally, the BE Program is supported by Silgan Dispensing’s regulatory team, utilizing the company’s Nasal Spray Testing cGMP lab and equipment, and partners with accredited, external cGMP lab testing services and CMOs for nasal products.
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