Crown Holdings Stock Price, News & Analysis

Crown Holdings (CCK) reported Q3 2022 earnings of $1.06 per share, up from $0.79 in Q3 2021. Total net sales rose to $3.259 billion, driven by a 6% increase in global beverage can volumes despite $127 million in foreign currency losses. Income from operations declined to $297 million from $348 million year-over-year. The company has repurchased $722 million in shares this year and expects adjusted earnings of $1.00 to $1.10 for Q4, lowering its full-year guidance to $6.60-$6.70 per share due to inflationary pressures and currency fluctuations.

Crown Holdings, Inc. (NYSE:CCK) has announced it will release its third-quarter earnings for the period ending September 30, 2022, after the NYSE trading close on October 24, 2022. A conference call to discuss these results is scheduled for 9:00 a.m. EDT on October 25, 2022. Interested parties can access the call by dialing (630) 395-0194 or toll-free (888) 324-8108, with the access password being "packaging". A replay will be available until November 1, 2022. Crown Holdings is a leading global supplier of rigid packaging products.

Crown Holdings, Inc. (NYSE: CCK) has amended its credit agreement to extend its maturity to August 2027 and increase commitments across several facilities. Post-amendment, commitments include $800 million in U.S. dollar revolving commitments and $1.8 billion in Term Loan A commitments. The company plans to utilize these facilities to redeem outstanding 2¼% and ¾% Senior Notes due in 2023, totaling €885 million. This strategic move aims to strengthen Crown's financial position.

Crown Holdings, Inc. (NYSE: CCK) has declared a cash dividend of 22 cents per share, payable on August 25, 2022. Shareholders on record as of August 11, 2022 are eligible. This reflects the company’s ongoing commitment to returning value to its shareholders. Crown Holdings is a leading supplier of rigid packaging products and has its headquarters located in Yardley, Pennsylvania.

Crown Holdings (NYSE: CCK) has announced the election of Angela M. Snyder to its Board of Directors, effective July 28, 2022. Snyder, currently the Chief Banking Officer of Fulton Bank, brings extensive experience in the financial sector, having held various leadership roles since 2002. Her background includes serving as CEO of Fulton Bank of New Jersey before its consolidation. Chairman Timothy J. Donahue expressed confidence in Snyder's ability to enhance the board's knowledge and perspective.

Crown Holdings reported strong Q2 2022 financial results, with earnings per share at $2.43, up from $0.95 in 2021. Net sales surged to $3,510 million, driven by a 4% increase in beverage can volumes and higher raw material passes. The company completed the sale of its Kiwiplan business for $180 million, generating a $102 million after-tax gain. However, unfavorable foreign currency translation affected earnings. Net income rose to $295 million, and segment income improved to $432 million. Looking ahead, adjusted Q3 earnings are projected between $1.75 and $1.85 per share.