- Silgan Holdings press release (NYSE:SLGN): Q4 Non-GAAP EPS of $0.84 beats by $0.02.
- Revenue of $1.46B (+1.4% Y/Y) misses by $80M.
- Outlook: The company currently estimates that its adjusted net income per diluted share for the full year of 2023 will be in the range of $3.95 to $4.15 vs. consensus of $4.09, as compared to record adjusted net income per diluted share for the full year of 2022 of $4.01.
- The company expects interest expense before loss on early extinguishment of debt of approximately $155 million in 2023, an increase of $28.7 million, or $0.20 per diluted share, expects its effective tax rate for 2023 to be ~24 to 25 percent as compared to the effective tax rate for 2022 of 28.1 percent.
- The company currently estimates that free cash flow in 2023 will be approximately $425 million as compared to $368.2 million in 2022.
- Free cash flow in 2023 is expected to benefit from strong operating performance and improvements in working capital, partially offset by higher interest payments as a result of higher interest rates.
- Capital expenditures are expected to be approximately $250 million in 2023.
- For the first quarter of 2023, the company is providing an estimate of adjusted net income per diluted share in the range of $0.75 to $0.85 vs. consensus of $0.81, as compared to a record $0.79 in the first quarter of 2022.