Silgan Holdings Inc., a leading supplier of sustainable rigid packaging solutions for the world’s essential consumer goods products, reported full year 2024 net sales of $5.9 billion and net income of $276.4 million, or $2.58 per diluted share, as compared to full year 2023 net sales of $6.0 billion and net income of $326.0 million, or $2.98 per diluted share. 

For the fourth quarter of 2024, Silgan reported net income of $45.1 million, or $0.42 per diluted share, as compared to $64.4 million, or $0.60 per diluted share, in the fourth quarter of 2023.

Adjusted net income per diluted share for the full year of 2024 was $3.62, after adjustments increasing net income per diluted share by $1.04, a 6% increase over adjusted net income per diluted share for the full year of 2023 of $3.40 after adjustments increasing net income per diluted share by $0.42. 

Adjusted net income per diluted share for the fourth quarter of 2024 was a record $0.85 after adjustments increasing net income per diluted share by $0.43, a 35% increase over adjusted net income per diluted share in the fourth quarter of 2023 of $0.63 after adjustments increasing net income per diluted share by $0.03. 

A reconciliation of net income per diluted share to “adjusted net income per diluted share,” a Non-GAAP financial measure used by the Company that adjusts net income per diluted share for certain items, can be found in Table A at the back of this press release.

Adam Greenlee, President and CEO, said: ”The Silgan team delivered another year of strong results, with record fourth quarter adjusted EPS and Adjusted EBIT and double digit free cash flow growth, and made significant progress on several important long-term strategic objectives that will benefit our Company in 2025 and beyond. We expanded our market leading dispensing business with the acquisition of Weener Packaging, extended our decades long partnership with our largest customer with another long-term contract extension, and delivered meaningful organic growth. The success of our winning strategy, the power of our portfolio, and the strength of our team continue to create value for our shareholders and position the Company for continued success well beyond 2025.

“Our Dispensing and Specialty Closures business continues to perform exceptionally well and achieved record full year and fourth quarter Adjusted EBIT and the third consecutive quarter of double-digit organic volume growth in dispensing products during the fourth quarter. Our commercial focus, technological innovation, and the breadth and depth of our expanding product portfolio continue to drive incremental opportunities in new and existing dispensing end markets. 

“Our Metal Containers business showed improving momentum in our strategic focus areas with double-digit volume growth in pet food and strong progress on our cost reduction efforts during the fourth quarter. Our Custom Containers business continued to deliver commercial success, as end market demand improved and our business benefited from the commercialisation of new business awards, incremental new business wins, and strong operating performance.

“Earlier this week, we announced that Philippe Chevrier will join our team as Executive Vice President and Chief Operating Officer. Philippe will join our Executive Office in Stamford and will fully participate in the collaborative management process that has proven to be so successful since the founding of our Company. 

“We continue to seek new opportunities to apply our unique business model to achieve our strategic initiatives and create value through our efficient and disciplined capital deployment model and the continued expansion of our long-term partnerships with our customers and by driving organic growth in each of our businesses. We are excited about the opportunities in 2025 and beyond, and with the actions we have taken the Company is well positioned to achieve another year of double digit percentage earnings and free cash flow growth this year.”