Welcome to our dedicated page for Crown Holdings news (Ticker: CCK), a resource for investors and traders seeking the latest updates and insights on Crown Holdings stock.
Crown Holdings, Inc. reports news on its global packaging operations, including beverage cans, metal food cans, closures, aerosol packaging, and transit and protective packaging products, equipment, and services. Company updates commonly cover quarterly earnings, beverage can shipment trends, regional performance in Europe, Asia-Pacific, and North America, and demand across consumer packaging and end-market customers.
Recurring announcements also include dividend declarations, share repurchase activity, capital allocation priorities, manufacturing capacity projects, and leadership or board changes. Crown’s news flow connects operating results with raw-material sourcing, manufacturing flexibility, customer commitments, and the structure of its packaging divisions.
Crown Holdings, Inc. (NYSE: CCK) is set to release its fourth-quarter earnings for the period ending December 31, 2021, on February 8, 2022, after market close. A conference call to discuss these results will be held on February 9, 2022, at 9:00 a.m. EST. Investors can join the call via dial-in numbers or listen to a live webcast on the company's website. Crown Holdings is recognized as a global leader in rigid packaging products and related services, with headquarters in Yardley, Pennsylvania.
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Crown Holdings, Inc. (CCK) announced a new stock repurchase authorization of up to $3.0 billion, effective until the end of 2024. This decision reflects the company's robust balance sheet and strong cash flow from operations. The buyback program is designed to return cash to shareholders and may be executed in open markets or through private transactions. The timing and amount of repurchased shares will depend on market conditions and regulatory requirements. The prior authorization from February 2021 has been superseded.
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Crown Holdings (NYSE: CCK) announced the promotion of Christy L. Kalaus to Vice President and Corporate Controller, effective January 1, 2022, as part of the management succession plan. David A. Beaver, the current Corporate Controller, will transition to Vice President & Treasurer on the same date. The CEO, Timothy J. Donahue, expressed confidence in their finance and accounting expertise, highlighting their integral role in the company's growth. The release includes a cautionary note on forward-looking statements, indicating risks that could influence future performance.
Crown Holdings, Inc. (NYSE: CCK) announced the retirement of Thomas A. Kelly, its CFO since 2013, effective early 2022. Kevin C. Clothier, Vice President & Treasurer, will succeed him on January 1, 2022. Both executives have long histories at the company, with Kelly being a part of Crown since 1992 and Clothier since 1993. The transition is aimed at ensuring continuity and stability in financial leadership. Forward-looking statements highlight potential risks impacting future performance.
Crown Holdings, Inc. (NYSE: CCK) has declared a cash dividend of 20 cents per share, payable on November 26, 2021, to shareholders who are on record by November 12, 2021. The company is recognized as a top global supplier of rigid packaging products and related services. This ongoing commitment to returning value to shareholders reflects confidence in the company's financial health and operational stability.
Crown Holdings reported its Q3 2021 financial results, showing net sales of $2.92 billion, a rise from $2.49 billion in Q3 2020. While diluted earnings per share dipped to $0.79 compared to $1.59 last year, adjusted EPS rose to $2.03, up from $1.96. Global beverage can volumes increased by 3%, boosted by North American growth. Year-to-date, the company repurchased $759 million in shares. Major sustainability achievements were noted, including a top ESG rating. The outlook for Q4 projects adjusted earnings per share between $1.50 and $1.55.
Crown Holdings has partnered with Velox to launch a groundbreaking digital decoration technology for aluminum beverage cans. This innovative solution enables running speeds of up to 500 cans per minute, significantly improving production efficiency compared to traditional methods. The technology allows for enhanced design options, including the ability to print up to 14 colors and various embellishments. It addresses the growing demand among beverage brands for smaller production runs and sustainable packaging solutions. Commercial production is expected to begin in 2022 following pilot testing.
Crown Holdings (NYSE: CCK) announced that its U.K. pension plan, the Metal Box Pension Scheme, will fully insure its liabilities with Pension Insurance Corporation. This transaction covers approximately 10,300 retirees and 2,200 deferred members. The completion of administrative processes is expected in October, with the transfer scheduled for November 2021, eliminating $2.5 billion in cash flow and earnings risk. A non-cash charge of approximately $1.3 billion is anticipated in the fourth quarter. This settlement aims to stabilize Crown's financial outlook.