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. (CCK) is a global leader in metal packaging solutions, serving consumer goods and industrial markets worldwide. This page provides investors and stakeholders with direct access to official company announcements, financial updates, and strategic developments.
Track all critical updates through our curated collection of press releases, earnings reports, and corporate announcements. Stay informed about CCK's innovations in sustainable packaging, manufacturing expansions, and market leadership in beverage cans, food containers, and protective transit solutions.
Key content includes quarterly financial results, acquisition updates, sustainability initiatives, and operational milestones. Our repository ensures you never miss developments related to CCK's global operations across 40+ countries or its progress toward environmental stewardship targets.
Bookmark this page for streamlined access to verified information directly from Crown Holdings. Check back regularly for real-time updates on one of the packaging industry's most influential manufacturers.
Crown Holdings' 2023 Sustainability Report highlights progress in their Twentyby30™ program, launched in 2020. The company has made strides in renewable energy, adding solar installations to plants and procuring large-scale projects. Crown co-hosted the first Global Aluminium Can Sustainability Summit, fostering industry collaboration. They received Aluminium Stewardship Initiative (ASI) certification for operations in Mexico, following Brazil's certification.
Crown joined the United Nations Global Compact (UNGC) and CEO Water Mandate, committing to resource efficiency. Their efforts earned recognition from Newsweek, 3BL Media, and Forbes. Notably, Sustainalytics ranked Crown in the top 3% of the containers and packaging industry for the third consecutive year. CEO Tim Donahue emphasizes the company's commitment to sustainability goals and praises the global team's efforts in advancing the Twentyby30™ program.
Crown Holdings (NYSE: CCK) has announced a significant move to transfer $740 million in US pension plan obligations to Massachusetts Mutual Life Insurance Company (MassMutual). This transaction involves purchasing a group annuity contract to guarantee benefits for nearly all retirees and deferred vested participants in Crown's primary US defined benefit plans, covering approximately 12,000 participants.
The transfer will eliminate $740 million in both US pension plan assets and liabilities from Crown's balance sheet. Combined with previous buy-outs in Canada and the UK, Crown will have annuitized about $4 billion of pension liabilities since 2021. The company expects to contribute $100 million to the plan and record a one-time non-cash charge of $450 million ($340 million after tax) in Q3 2024. Crown reaffirms its 2024 full year adjusted free cash flow guidance of at least $750 million.
Crown Holdings, a leading global supplier of rigid packaging products, has announced its continued pursuit and securing of new Aluminium Stewardship Initiative (ASI) certifications. Jennifer Bogs, Director of Global Sustainability at Crown, provided insights into the company's ongoing partnership with ASI and its comprehensive impact on sustainability efforts. This initiative aligns with Crown's commitment to responsible sourcing and maintaining high standards in the industry.
Crown Holdings (NYSE: CCK) specializes in supplying rigid packaging products to consumer marketing companies, as well as transit and protective packaging products, equipment, and services across various end markets. The company's world headquarters are located in Tampa, Florida.
Crown Holdings, Inc. (NYSE:CCK) has been ranked at the top of the Containers & Packaging category in Sustainalytics' latest ESG Risk Rating. Crown achieved an overall Negligible risk score, placing it among the top 3% of over 16,200 assessed companies. This ranking highlights the success of Crown's Twentyby30™ program, which aims to achieve 20 measurable sustainability goals by 2030.
The assessment noted Crown's low exposure levels in areas such as emissions, effluents and waste, carbon footprint, and resource use. This indicates that Sustainalytics views Crown's business model as inherently less risky for the environment. Crown continues to make progress on its sustainability commitments, including securing more renewable electricity, initiating water replenishment projects, and working to increase recycling rates for aluminum and steel cans.
Crown Holdings, Inc. (NYSE: CCK) has announced the pricing of €600 million aggregate principal amount of 4.500% senior unsecured notes due 2030. The notes, issued at par by Crown's subsidiary Crown European Holdings S.A., will be unconditionally guaranteed by Crown and certain subsidiaries. Crown intends to use the net proceeds, along with cash on hand, to pay at maturity its outstanding 2.625% senior notes due in September 2024 and related fees and expenses.
The notes will be issued through a private placement and resold to qualified institutional buyers under Rule 144A and non-U.S. persons outside the United States under Regulation S of the Securities Act. The notes are not registered under the Securities Act and cannot be offered or sold in the United States without registration or an applicable exemption.
Crown Holdings, Inc. (NYSE: CCK) has released its 2023 Sustainability Report, highlighting significant progress towards its Twentyby30™ program goals. The report, titled 'A Shared Purpose,' details the company's global sustainability efforts across five pillars: Climate Action, Resource Efficiency, Optimum Circularity, Working Together, and Never Compromise.
Key achievements include being on track to meet the Scope 3 emissions reduction goal ahead of the 2030 deadline. The report emphasizes Crown's commitment to transparency and high sustainability standards. It adheres to GRI Core Standard, UNGC principles, SASB standards, UN SDGs, and TCFD guidelines. The report has received independent assurance from Lucideon CICS for GHG emissions and water usage data.
Crown Holdings, Inc. (NYSE: CCK) has announced a $2.0 billion share repurchase authorization through the end of 2027, replacing the previous authorization from December 2021. This decision reflects the company's strong balance sheet and cash flow, allowing for business investment and shareholder returns. CEO Timothy J. Donahue emphasized that share repurchases are a key part of their long-term capital allocation strategy, aiming to create value for shareholders while maintaining disciplined capital management. The company plans to invest in growth, return capital to shareholders, and reduce net leverage to 2.5 times. Repurchases may be made in the open market or through private negotiations, with timing and volume dependent on various factors including price and market conditions.
Crown Holdings, Inc. (NYSE: CCK) has announced a quarterly cash dividend of $0.25 per share. The dividend will be payable on August 29, 2024, to shareholders of record as of August 15, 2024. This declaration by the Board of Directors demonstrates the company's commitment to returning value to its shareholders. The consistent dividend payout may indicate Crown Holdings' financial stability and confidence in its future cash flows. However, investors should consider the dividend amount in relation to the company's overall financial health and growth prospects.
Crown Holdings (NYSE: CCK) reported its Q2 2024 financial results, showing improved performance driven by strong global beverage operations. Net sales were $3,040 million, down from $3,109 million in Q2 2023, reflecting higher beverage can shipments offset by lower material costs. Income from operations increased to $379 million from $367 million year-over-year. Segment income rose to $437 million from $414 million, with global beverage can shipments up 6%.
The company generated record first-half free cash flow of $178 million and reduced net leverage to 3.2 times. Crown expects to further reduce leverage below 3.0 times by year-end 2024. Adjusted diluted EPS increased to $1.81 from $1.68 in Q2 2023. Crown raised its full-year 2024 EPS guidance to $6.00-$6.25 and expects free cash flow of at least $750 million for the year.
Sustainalytics has ranked Crown Holdings (NYSE: CCK) at the top of the Containers & Packaging category in their latest ESG Risk Rating. Crown leads its peer group of 105 organizations and is among the top 3% of over 16,200 assessed companies with an overall Negligible risk score. This recognition highlights Crown's Twentyby30™ program aimed at achieving 20 measurable sustainability goals by 2030. The program focuses on reducing emissions, waste, and resource use, and improving governance and safety. Crown's low-risk profile in various sustainability areas positions it favorably against industry peers. The company's continued efforts include securing renewable electricity, initiating water replenishment projects, and enhancing recycling rates for aluminum and steel cans.
