Crown Holdings Stock Price, News & Analysis

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.

Crown Holdings (NYSE: CCK) will release its second-quarter 2024 earnings on July 22, 2024, after the NYSE trading close. The company will host a conference call on July 23, 2024, at 9:00 a.m. EDT to discuss the results. Interested parties can dial in using numbers (630) 395-0194 or toll-free (888) 324-8108, with the access password 'packaging'.

A replay of the call will be available until July 30, 2024. The replay numbers are (203) 369-3998 or toll-free (800) 876-5258. A live webcast will be accessible on Crown Holdings' website, www.crowncork.com.

Crown Holdings, headquartered in Tampa, Florida, is a global leader in manufacturing packaging products for consumer and industrial goods.

KPS Capital Partners announced it will sell Eviosys to Sonoco Products Company for €3.615 billion (~$3.9 billion). Sonoco may pay up to $200 million in stock. The deal, expected to close by the end of 2024, requires regulatory approvals and other conditions. Eviosys, a leading metal packaging supplier in EMEA, employs 6,300 people across 44 facilities in 17 countries. It specializes in sustainable, infinitely recyclable metal packaging. KPS acquired Eviosys from Crown Holdings in 2021, boosting its profitability by 50% through strategic investments and transformation. Eviosys achieved significant sustainability milestones, including an EcoVadis Platinum rating. The sale reflects KPS' strategy of enhancing business value and is expected to benefit customers, employees, and investors of both Eviosys and Sonoco.

Crown Holdings has expressed support for the European Union's new Packaging & Packaging Waste Regulation (PWR), which mandates that over 90% of beverage cans be collected separately by 2029. This regulation is part of a broader set of legislative measures aimed at promoting sustainability in the EU. Additionally, other significant acts have been passed, including the Net-Zero Industry Act (NZIA) to enhance EU production of decarbonization technologies, and the Corporate Due Diligence Directive (CDDD), which obligates firms to address human rights and environmental impacts throughout their supply chains. These measures align with the EU's goals of achieving zero air pollution by 2050 and fostering a greener, more competitive economy.

Crown Holdings has highlighted recent achievements in renewable energy capacity, underlining a record year for wind and solar energy installations in 2023. According to the Global Wind Energy Council (GWEC), the world added 116 gigawatts of new wind power, a 50% increase from 2022, with China leading the way. The International Energy Agency (IEA) reported a 50% rise in global renewable capacity additions, reaching nearly 510 gigawatts, driven significantly by China's solar PV installations. Despite this progress, the IEA cites the need for enhanced policies, grid infrastructure, and financing to meet the COP28 goal of tripling global renewable capacity by 2030.

Crown Holdings celebrates International Women's Day 2024, emphasizing the theme of 'inspire inclusion.' Various global locations participated in unique activities to honor the event. In Peterborough, UK, employees were recognized for their contributions. In Valencia, Spain, both female and male colleagues wore special IWD scarves. Middle Eastern plants hosted discussions on enhancing the female workforce experience, while employees in Kechnec, Slovakia, and other sites watched webinars focused on empowering women. These initiatives reflect Crown Holdings' commitment to supporting women in the workplace.

On Global Recycling Day, Crown Holdings celebrated the efforts of Every Can Counts (ECC) to increase beverage can recycling rates worldwide. ECC's activities, like the St. Patrick's Festival and Mardi Gras initiative, have significantly reduced waste. ECC's work has led to a record 76.1% can recycling rate in Europe in 2021, moving towards a 100% goal by 2050.

Crown Holdings, Inc., a global supplier of packaging products, supports ECC in their mission. The company's headquarters are in Tampa, Florida.

Crown Holdings, Inc. (NYSE: CCK) declared a quarterly cash dividend of $0.25 per share, payable on June 27, 2024, to shareholders of record as of June 13, 2024.

Crown Holdings, Inc. reported its financial results for Q1 2024 with net sales at $2,784 million, down from $2,974 million in Q1 2023. Income from operations was $245 million compared to $269 million in Q1 2023. Despite some challenges, the company remains focused on operational improvement and anticipates increased demand in the future.

Net income was $67 million, and reported diluted earnings per share were $0.56 in Q1 2024. Adjusted diluted earnings per share were $1.02. The company's financial position improved in terms of free cash flow and net leverage ratio, with full-year 2024 guidance of $5.80 to $6.20 adjusted diluted earnings per share.