SLGN: Silgan Beats, Raises Guidance on Strong Pricing
The pricing strength indicated by the PPI report seems to have been validated by Silgan’s (SLGN - Annual Report) earnings report today.
“Net sales for the third quarter of 2007 were $904.8 million, an increase of $48.4 million, or 5.7 percent, as compared to $856.4 million for the same period in 2006. This increase was primarily attributable to higher average selling prices resulting from the pass through of inflation in raw material and other manufacturing costs and an improved mix of products sold in the metal food container business, the inclusion of sales from our fourth quarter 2006 and first quarter 2007 acquisitions, the impact of beneficial foreign exchange translation on international revenues and improved volumes across all businesses.”
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