Crown Holdings Stock Price, News & Analysis

Crown Holdings, Inc. (NYSE: CCK) announced the pricing of a $500 million offering of 5.250% senior unsecured notes due in 2030 by its subsidiary Crown Americas LLC. The offering is guaranteed by Crown and certain subsidiaries, with the net proceeds intended for general corporate purposes. The notes will be privately placed and resold to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S. The press release emphasizes the forward-looking nature of the offering, noting potential risks and conditions that could affect completion.

Crown Holdings, Inc. (NYSE: CCK) plans to offer $500 million in senior unsecured notes due 2030 via its subsidiary Crown Americas LLC, contingent on market conditions. The proceeds will be allocated for general corporate purposes. The notes will be privately placed and sold to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S of the Securities Act. This offering is subject to various risks and uncertainties, and the actual terms may differ significantly from initial proposals.

Crown Holdings (NYSE: CCK) announced plans to build a new beverage can facility in Peterborough, United Kingdom. Construction will start in Q2 2022, with production on the first line expected to begin by Q2 2023. The facility aims to achieve an annual capacity of over three billion units and will span 625,000 square feet, creating 280 jobs. This expansion aligns with the growing demand for beverage cans, the most sustainable packaging option, as more brands introduce their products in cans.

Crown Holdings, Inc. (NYSE: CCK) has declared a cash dividend of 22 cents per share, with a payment date set for March 24, 2022. Shareholders on record as of March 10, 2022 will be eligible to receive the dividend. The company continues to demonstrate its commitment to returning value to its shareholders. Crown Holdings is a leading global supplier in rigid packaging products, providing services across various end markets. For further details, visit www.crowncork.com.

Crown Holdings, Inc. (NYSE: CCK) has appointed Marsha C. Williams to its Board of Directors, effective March 1, 2022. Williams brings extensive experience as former Senior VP and CFO of Orbitz Worldwide and Executive VP and CFO of Equity Office Properties Trust. She holds an MBA in Finance and Accounting from the University of Chicago. The Board's Chairman, John W. Conway, expressed confidence in her ability to enhance the company’s finance, operations, and strategy.

Crown Holdings reported a fourth-quarter loss of $7.95 per share, significantly impacted by a $1.5 billion pension settlement. Adjusted earnings were $1.66 per share, an increase from $1.50 in 2020. Net sales reached $3,054 million, up from $2,460 million, benefiting from higher material cost pass-throughs and increased beverage can sales. The company returned over $1 billion to shareholders in 2021 and expects 2022 adjusted earnings between $8.00 and $8.20 per share. Despite challenges, including tornado damage to a plant, global beverage can volumes grew 9% year-over-year.

Crown Holdings, Inc. (NYSE: CCK) has announced new global recycling rate goals aimed at enhancing the circular economy for aluminum beverage cans by 2030. Targets include increasing U.S. recycling rates from 45% to 70%, maintaining over 90% in Mexico and Brazil, and achieving 80% in EMEA. Additionally, Crown will work with industry partners to improve recycling access and consumer education. This initiative is part of its Twentyby30 program, which emphasizes sustainability through better recycling practices.

Crown Holdings, Inc. (NYSE: CCK) has obtained certification from the Aluminium Stewardship Initiative (ASI) for its beverage can operations in Mexico. This certification confirms Crown's commitment to sustainable sourcing and responsible production practices under its Twentyby30 sustainability initiative. The ASI Performance Standard, which evaluates ethical production in the aluminum industry, reinforces Crown's dedication to environmental and social governance. Future goals include obtaining ASI Chain of Custody certification in Mexico and Brazil, further advancing sustainability efforts across its global operations.

Crown Holdings, Inc. (NYSE: CCK) has announced an expansion of food can production capacity at its Owatonna, Minnesota plant. This new line is set to begin operations in Q3 2022, meeting rising demand in the pet food, bean, and soup sectors. The expansion will also create approximately 40 new jobs, enhancing local employment. This strategic move aims to strengthen Crown’s position in the rigid packaging market and cater to growing customer needs.