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) generates a steady flow of news related to its role as a global supplier of rigid packaging products and transit and protective packaging solutions. Company releases describe how Crown, through its subsidiaries, serves consumer marketing companies and a broad range of end markets with metal packaging, including beverage cans, food cans, closures, aerosol cans and protective transport packaging.
News coverage for CCK commonly features quarterly earnings announcements, where Crown reports net sales, income from operations, segment income and adjusted non-GAAP measures such as adjusted diluted earnings per share, adjusted free cash flow and adjusted net leverage ratio. These releases often include detailed segment information for Americas Beverage, European Beverage, Asia Pacific, Transit Packaging and other operations, along with commentary on performance drivers in each area.
Investors following Crown Holdings’ news will also see capital markets and financing updates. Recent press releases and Form 8-K filings describe offerings of senior unsecured notes by Crown European Holdings S.A., tender offers for 7 3/8% debentures due 2026, and redemptions of both U.S. dollar and euro-denominated notes due 2026. These items provide insight into how the company manages its debt structure, refinances obligations and addresses upcoming maturities.
Additional news items include dividend declarations, with the Board of Directors announcing quarterly cash dividends per share, and scheduling of earnings conference calls and webcasts. These calls give further context on results, segment trends and the company’s use of non-GAAP measures, and are highlighted in advance through dedicated press releases.
This news page for CCK brings together these earnings reports, financing announcements, dividend declarations and conference call notices in one place, allowing readers to review the company’s recent disclosures and developments. Users interested in Crown Holdings’ financial performance, capital structure and packaging operations can consult this feed for the latest official updates released by the company.
Crown Holdings, Inc. (NYSE: CCK) has declared a cash dividend of 20 cents per share, payable on May 20, 2021. This dividend is for shareholders of record as of May 6, 2021. The announcement reflects the company's ongoing commitment to returning value to its shareholders while maintaining a strong financial position in the rigid packaging industry.
Crown Holdings reported strong Q1 2021 financial results with net sales of $3,078 million, a significant increase from $2,757 million in Q1 2020. Earnings per share rose to $1.57 from $0.65, and adjusted earnings reached $1.83 compared to $1.13 the previous year. The company announced an agreement to sell its European Tinplate business, aiming to use proceeds for debt reduction and share repurchases. Beverage can volumes grew by 8%, highlighting strong demand and operational performance despite pandemic challenges.
KPS Capital Partners to acquire EMEA Food and Consumer Packaging Business from Crown Holdings for €2.25 billion. Crown will maintain a 20% stake in the new entity, which focuses on food and consumer products. This company is Europe's largest manufacturer of steel and aluminum food packaging, generating €2.0 billion annually and employing around 6,300 staff across 44 facilities. The transaction is expected to close in Q3 2021, pending customary approvals.
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.
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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.