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. (NYSE: CCK) is a global manufacturer of metal packaging products, producing billions of beverage cans, food containers, and aerosol packages annually across facilities in more than 40 countries. As one of the largest packaging companies worldwide, Crown's business activities generate news coverage spanning earnings announcements, manufacturing expansions, debt financing activities, and executive leadership developments.
This news page tracks material announcements from Crown Holdings, including quarterly and annual earnings reports that detail performance across its Americas Beverage, European Beverage, and Transit Packaging segments. The company's capital markets activity, such as senior note offerings and debt tender offers, receives coverage given Crown's significant use of bond financing for operations and expansion.
Manufacturing investments represent another key news category, as Crown regularly announces new production lines and facility expansions to meet customer demand for aluminum beverage cans. Geographic expansion in high-growth markets, particularly in South America and Asia, generates announcements about new plant construction and capacity additions. Partnership announcements with beverage brands occasionally highlight new product launches using Crown's packaging.
Bookmark this page to follow Crown Holdings' quarterly earnings, expansion announcements, and corporate developments affecting this major packaging manufacturer.
Crown Holdings (NYSE: CCK) announced the sale of its European Tinplate business to KPS Capital Partners for approximately €1.9 billion. This deal allows Crown to retain a 20% ownership stake in the business, which had 2020 revenues of €1.9 billion and an estimated EBITDA of €220 million. The sale is expected to close in Q3 2021, subject to regulatory approvals. Crown plans to use the proceeds to reduce debt and repurchase shares. The transaction aims to enhance Crown's financial profile, with a pro forma adjusted net leverage ratio forecasted to improve from 3.9x to 2.9x by year-end 2021.
Crown Holdings, Inc. (NYSE:CCK) is set to announce its earnings for Q1 2021 on April 19, 2021, after market close. A conference call will be held on April 20, 2021, at 9:00 a.m. EDT to discuss the earnings results. Interested parties can join the call via dial-in numbers and will also have access to a replay for one week following the event. Crown Holdings specializes in rigid and protective packaging products and operates globally from its headquarters in Yardley, Pennsylvania.
Crown Holdings, Inc. (CCK) declared a cash dividend of 20 cents per share, payable on March 25, 2021, to shareholders of record by March 11, 2021. The company also authorized a stock repurchase program of up to $1.5 billion through the end of 2023, reflecting a strong balance sheet and cash flow. This initiative aims to return value to shareholders while investing in the business. The actual buyback will depend on market conditions and corporate requirements.
Crown Holdings reported robust financial results for Q4 and full year 2020, with earnings per share at $1.12 for Q4 and $4.30 annually, both reflecting year-over-year growth. Adjusted earnings improved to $1.50 for the quarter and $5.92 for the year. Net sales reached $2.96 billion in Q4, up from $2.79 billion in the previous year, driven by increased beverage and food can volumes. The company generated record free cash flow of $756 million and reduced net leverage to 3.9x. Outlook for 2021 includes projected adjusted EPS of $6.60 to $6.80, and an expected EBITDA of $2 billion.
Crown Holdings (NYSE: CCK) announced plans to build a new beverage can manufacturing facility in Henry County, Virginia. This facility, part of Crown's strategy to expand its manufacturing capacity, will help meet the rising demand for aluminum beverage cans across various categories. Expected to begin operations in Q2 2022, the 355,000 square foot plant will create 126 new jobs. CEO Timothy J. Donahue emphasized this investment's role in enhancing sustainability and strengthening Crown's position in the specialty can market.
Crown Holdings, Inc. (NYSE: CCK) announced plans to build its sixth beverage can plant in Brazil, expanding its annual production capacity to 13.3 billion cans. The facility will be located in Minas Gerais, with the first production line set for Q2 2022 and the second for Q4 2022. This expansion aims to meet the rising demand for aluminum beverage cans in the region. Crown has been operating in Brazil since 1942 and emphasizes the sustainability and recyclability of aluminum cans as key advantages in the market.
Crown Holdings, Inc. (NYSE: CCK) will announce its fourth-quarter earnings for the period ending December 31, 2020, on February 9, 2021, after market close. A conference call to discuss these results is scheduled for February 10, 2021, at 9:00 a.m. EST. Interested parties can dial in using (630) 395-0194 or toll-free (888) 324-8108 with the access password "packaging." A replay of the call will be available until February 17, 2021. Crown Holdings is a prominent global supplier of rigid packaging products, headquartered in Yardley, Pennsylvania.
Crown Holdings, Inc. (NYSE: CCK) announced the election of Dwayne Wilson to its Board of Directors, expanding the board to 13 members. With 36 years at Fluor Corporation, Wilson brings extensive experience in construction and engineering, having held various leadership roles. His background includes managing key business units and expertise in areas vital for Crown's operations. The Chairman, John W. Conway, expressed confidence in Wilson's ability to enhance the company's technology and supply chain strategies.
Crown Holdings, Inc. (CCK) announced its achievement of operating all 14 beverage can plants in the U.S. and Canada on 100% renewable energy, marking a first in the metal packaging industry. This transition is supported by a 15-year Virtual Power Purchase Agreement (VPPA) with Longroad Energy, generating over 440,000 MWhs of electricity annually. As part of its sustainability goals, Crown aims for 60% renewable electricity by 2030, 90% by 2040, and 100% by 2050, alongside a 50% reduction in Scope 1 and Scope 2 greenhouse gas emissions. The initiative will help prevent over 310,000 metric tons of carbon emissions each year.
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