SILGAN HOLDINGS INC Q3 FY2024 earnings call

• Welcomed approximately 4,000 new Silgan team members from the Weener Packaging acquisition, which brings advanced technologies to bolster innovation pipeline. - Third quarter continued to showcase success of long-term strategic growth initiatives with resilient financial performance. - Dispensing and Specialty Closures delivered record adjusted EBIT with double-digit growth in global dispensing products. - Metal Containers extended long-term exclusive supply relationship with largest customer, pet food volumes showed accelerating trends, but fruit and vegetable pack volumes were impacted by adverse weather. - Custom Containers had strong results with 5% volume growth from new business awards.

Dispensing and Specialty Closures: Sales increased 1% vs prior year quarter, primarily due to higher volume mix of 2% (double-digit volume growth in dispensing products). Third quarter adjusted EBIT increased $1.4 million vs prior year period. Metal Containers: Sales declined 7% vs prior year quarter, primarily due to pass-through of lower raw material costs and less favorable mix; pet food products grew high single-digit, soup volumes recovered, but fruit and vegetable pack volumes declined. Custom Containers: Sales increased 6% vs prior year quarter, driven by 5% volume growth from commercialization of new business awards; adjusted EBIT increased $8.2 million vs prior year period.

• Narrowed EPS estimates for 2024 due to lower pack volumes in Metal Containers. - Fourth quarter: Dispensing and Specialty Closures volume mix expected to grow low to mid-single-digit with high single-digit growth in dispensing products; Metal Containers expected mid-single-digit growth in pet food but full year volume comparable to 2023; Custom Containers expected low to mid-single-digit volume growth. - 2025 outlook: Well positioned for double-digit EPS growth, expectation to meet or exceed prior record adjusted EPS of $4.01; pack volumes in Metal Containers expected to improve from 2024 levels, but recovery in industry pack volumes still early to predict.

• Uncertainties related to forward-looking statements, including market uncertainties, raw material costs, and weather impacts on Metal Containers' pack volumes.

Q: Color on additional containers and CapEx evolution?

A: Custom Containers winning business with smaller scale contributions in 2025; CapEx expected to include Weener's requirements, with DSC and Custom Containers at ~5-6% of revenue, Metal Containers at 3-4% of revenue