Silgan Holdings Inc.

Good day and welcome to the Silgan Holdings second quarter 2026 earnings call. Today's call is being recorded. At this time, I'd like to turn the call over to Alex Hunter, Senior Vice President, Strategy Investor Relations. Please go ahead.

Thank you and good morning. Joining me on the call today are Adam Greenlee, President and CEO, Philippe Chevrier, EVP and COO, and Shawn Fabry, EVP and CFO. Before we begin the call today, we would like to make it clear that certain statements made on this conference call may be forward-looking statements. These forward-looking statements are made based on management's expectations and beliefs concerning future events impacting the company and, therefore, involve a number of uncertainties and risks, including, but not limited to, those described on the company's annual report on Form 10-K for 2025 and other filings of the Securities and Exchange Commission. Therefore, the actual results of operations or financial condition of the company could differ materially from those expressed or implied in the forward-looking statements. In addition, commentary on today's call may contain references to certain non-GAAP financial metrics, including adjusted EBIT, adjusted EBITDA, free cash flow, and adjusted net income for diluted share, or adjusted EPS. A reconciliation of these metrics, which should not be considered substitutes for similar GAAP metrics, can be found in today's press release under the non-GAAP financial information portion. of the Investor Relations section of our website at silganholdings.com. With that, let me turn it over to Adam.

Thank you, Alex, and we'd like to welcome everyone to Silgan's second quarter earnings call. We're pleased to have delivered another quarter of solid financial results in the second quarter as our teams continue to execute our plan for the year and position our company for continued success well into the future. Our business has performed well in the second quarter and successfully overcame some significant challenges, including the dynamic geopolitical and operating backdrop. And our team successfully managed significant cost inflation, normalizing order patterns, and developing market conditions to deliver results that were above the midpoint of our expected range. Our results in dispensing and specialty closures were consistent with our expectations, and we delivered another quarter of strong growth in products for the fine fragrance market. Our teams continue to compete and win in this high value market, as our customer partnership model, differentiated technology, and market-leading innovation continue to set us apart from our competition. While overall market conditions remain mixed and were softer than expected in Brazil in the second quarter, our business continues to outperform the trends in our end markets. Additionally, the value we provide for these critical dispensing products was once again validated in the market as we successfully implemented commercial actions during the quarter to recover cost increases we have seen during the year as a result of raw material and other inflation. Our metal container segment reported another quarter of strong organic volume growth in products for wet pet food, which grew 7% year-over-year despite facing more challenging comps from the prior year. Our team successfully executed a new long-term supply agreement in the vegetable market, and we are eager to have a conclusion to the multi-year disruption created by this unique customer situation and looking forward to continuing our long-term partnership with the new owners of this business. Overall volumes in the metal container segment were flat year over year as the growth in pet food products was offset by the anticipated normalization in order pattern timing in the vegetable and soup markets. In custom containers, our team delivered another quarter of solid results despite significant raw material volatility associated with higher crude oil prices, with volumes comparable to prior levels after accounting for business exited as part of our cost reduction program. Our second quarter results continue to display our team's focus on executing our plan in 2026, and we are pleased to have delivered another strong quarter of financial results. As we move into the second half of 2026 and pass some of the challenges that we planned for in our first half results, We are confident in our ability to deliver organic growth in the third and fourth quarters despite the incremental challenges that have developed since we last reported. As always, our unique portfolio of consumer staple products and end markets, our long-term partnerships with our customers, our market-leading innovation, our unique capital deployment model, and our low-cost global manufacturing footprint continue to differentiate Silgan in the market and position us to outperform through various macroeconomic and geopolitical backdrops. Turning now to our outlook, we are confirming our estimates for 2026 earnings and free cash flow, and our volume expectations for the remainder of the year remain largely unchanged. We continue to expect dispensing especially closures, organic volume mix to grow by a low to mid single digit rate in 2026. driven by low to mid single digit growth in our dispensing products. Our metal containers volumes are on track to grow by a low single digit percentage driven by mid single digit growth in pet food and stable volumes for human food. We continue to expect our custom containers volumes to be comparable to prior year levels after accounting for volumes exited related to our restructuring plan with second half volumes higher than the prior year on a comparable basis as we commercialize new business. We remain laser focused on executing our plans for the year and delivering on our longer term strategic growth initiatives and are confident in our ability to deliver on both. With that, Shawn will take it to the financials for the quarter and our estimates for the third quarter and full year of 2026. Thank you, Adam.