Silgan Holdings’ Metal Containers business grew adjusted EBIT by 10% to $105.2 million in the third quarter of 2026, up from $95.8 million a year earlier. Volumes fell by 4%.

The segment’s net sales rose 1% to $1.17 billion, from $1.16 billion. Silgan said this was mainly the result of contractual pass-through of higher raw material and other manufacturing costs. CFO Shawn Fabry said these were “principally related to steel and aluminium”.

Lower soup volumes were partly offset by higher volumes for fruit and vegetable and pet food cans. Silgan said the earnings gain came mainly from more favourable price/cost, including mix.

On the earnings call, CEO Adam Greenlee said “soup was something that we had not anticipated”. He explained that one customer had faced heavy inflation in 2026 and decided in the third quarter to raise prices, which hit volumes. He said Silgan was not expecting a significant recovery in soup volumes in the fourth quarter. Fabry said the segment’s result reflected “a more normalised volume cadence in 2026 and stable footprint exiting our multiyear cost reduction initiative”.

Group results

Group net sales rose 2% to $2.04 billion. Adjusted earnings per share increased 7% to $1.31, from $1.22. GAAP net income fell to $105.0 million ($0.99 per share), from $113.3 million ($1.06). The quarter included $17.1 million of rationalisation charges, up from $7.2 million, and $10.3 million of costs for announced acquisitions.

Dispensing and Specialty Closures sales rose 1% to $699.2 million. Adjusted EBIT in that segment fell 2% to $111.2 million because of the delayed pass-through of inflation. Custom Containers sales rose 4% to $166.8 million, and adjusted EBIT rose 3% to $23.7 million.

Outlook and Trivium

Silgan has raised the bottom of its full-year adjusted EPS range. The new range is $3.83 to $3.93, up from $3.73 to $3.93. It expects adjusted EBIT to be higher than in 2025 in all segments. It confirmed its free cash flow estimate of about $450 million, and guided fourth-quarter adjusted EPS of $0.76 to $0.86.

The company expects the proposed acquisition of Trivium Packaging to close in mid-2027. The deal was announced on 19 October with American Industrial Partners. Trivium will be combined with Silgan’s metal containers and food and beverage closures businesses. Greenlee said Silgan expects “another year of organic earnings and free cash flow growth in 2027”.