Silgan (SLGN) Q2 2026 earnings summary

Executive summary

• Net sales for Q2 2026 reached $1.64 billion, up 7% year-over-year, driven by higher raw material cost pass-throughs, favorable FX, and strong volume growth in fragrance dispensing and pet food metal containers, partially offset by lower volumes in some segments.

• Net income for Q2 2026 was $75.8 million ($0.72 per diluted share), down from $89.0 million ($0.83 per diluted share) in Q2 2025, with adjusted net income per diluted share at $0.98 versus $1.01 last year.

• Adjusted EBIT for Q2 2026 was $185.3 million, down from $193.0 million in Q2 2025, reflecting margin pressures and higher rationalization charges.

• Outperformed end-market trends in Dispensing and Specialty Closures and wet pet food Metal Containers.

• Successfully executed a new long-term supply agreement in the vegetable market, resolving multi-year disruption.

Financial highlights

• Gross profit margin declined to 17.9% in Q2 2026 from 19.4% in Q2 2025; gross profit was $294.9 million, slightly down from $299.1 million.

• Adjusted EBIT was $185 million, down 4% year-over-year; Custom Containers up but Metal Containers down.

• Adjusted EBITDA for Q2 2026 totaled $253.0 million, unchanged from Q2 2025.

• Interest and other debt expense for Q2 2026 was $47.1 million, down year-over-year due to lower average debt.

• Cash and cash equivalents at June 30, 2026 were $351.5 million, up from $317.5 million a year earlier.

Outlook and guidance

• Full-year 2026 adjusted net income per diluted share estimated at $3.73 to $3.93, a 3% increase at midpoint over 2025.

• Q3 2026 adjusted net income per diluted share guidance is $1.21 to $1.31, compared to $1.22 in Q3 2025.

• Free cash flow for 2026 projected at approximately $450 million, including CapEx of ~$310 million.

• Management expects sufficient liquidity from operations and credit facilities to meet all obligations and capital needs for the foreseeable future.

• Volume growth expectations: low to mid-single digit for Dispensing and Specialty Closures, low single digit for Metal Containers and Custom Containers.