Silgan Holdings (SLGN) Drops to New Low on Dismal Growth Outlook

We recently published 10 Stocks Plunging Fast; 5 Now at All-Time Lows. Silgan Holdings Inc. (NYSE:SLGN) is one of the worst-performing stocks on Wednesday.

Silgan Holdings fell to a new 52-week low on Wednesday, as investor sentiment was dented by a lower growth outlook for full-year 2025.

At intra-day trading, Silgan Holdings Inc. (NYSE:SLGN) dropped to its lowest price of $36.15 before trimming losses to end the day just down by 13.57 percent at $38.66 apiece.

In an updated report, the company said it has lowered its outlook for adjusted net income per diluted share to a range of $3.66 to $3.76, from the $3.85 to $4.05 previously, primarily due to expectations of lower volume and related under-absorbed costs, as well as higher income tax and interest expenses.

For the fourth quarter alone, Silgan Holdings Inc. (NYSE:SLGN) also expected EPS to end at $0.62 to $0.7, lower than the $0.85 in the same period last year due to expectations of higher tax rate and interest costs.

In the third quarter of the year, Silgan Holdings Inc. (NYSE:SLGN) grew its net income by 13 percent to $113.3 million from $100.1 million in the same period last year. Net sales increased by 15 percent to $2 billion from $1.7 billion year-on-year.

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Disclosure: None. This article is originally published at Insider Monkey.