July 25 (Reuters) - Packaging maker Silgan Holdings Inc’s quarterly profit missed analysts’ estimates due to weakness in its European markets.
Silgan said weak demand in Europe affected volumes and pricing at its metal food container and closures segments.
The company forecast third-quarter adjusted profit of between $1.15 and $1.25 per share, compared with analysts’ estimates of $1.21 per share, according to Thomson Reuters I/B/E/S.
Silgan’s second-quarter net income fell to $10.6 million, or 15 cents per share, from $51.2 million, or 73 cents per share, a year ago.
Excluding items, it earned 55 cents per share.
Revenue fell slightly to $821.6 million.
Analysts had expected earnings of 58 cents per share on revenue of $826.5 million, according to Thomson Reuters I/B/E/S.