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) 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.