Crown Holdings Inc

Latest Results (19.12.2024):

Net Sales

Crown Holdings Inc. reported net sales of $3,074 million for the third quarter of 2024, a slight increase from $3,069 million in the same quarter of 2023. This growth was driven by higher shipments of global beverage cans and food cans in North America, although it was partially offset by lower volumes in other businesses and a $9 million unfavorable foreign currency translation.

Income from Operations

For the third quarter of 2024, Crown Holdings Inc. achieved an income from operations of $444 million, up from $374 million in the third quarter of 2023. This improvement was primarily due to enhanced performance in global beverage operations, despite lower volumes in Transit Packaging and the beverage can equipment business.

Segment Income

Segment income for Crown Holdings Inc. in the third quarter of 2024 was $472 million, marking a 10% increase compared to $430 million in the prior year's third quarter. The growth was attributed to favorable manufacturing performance and a balanced portfolio of end markets, with significant contributions from global beverage shipments.

Net Loss

Crown Holdings Inc. reported a net loss of $175 million for the third quarter of 2024, primarily due to pension settlement charges amounting to $517 million. This contrasts with a net income of $159 million in the third quarter of 2023. The reported diluted loss per share was $1.47, compared to diluted earnings per share of $1.33 in the previous year.

Outlook

Looking ahead, Crown Holdings Inc. has revised its full-year adjusted diluted earnings per share projection to a range of $6.25 to $6.35, up from the previous guidance of $6.00 to $6.25. The company expects adjusted free cash flow for the year to be at least $750 million, with capital spending not exceeding $450 million. Fourth quarter adjusted diluted earnings per share are anticipated to be between $1.45 and $1.55.