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 (NYSE:CCK) has announced its upcoming fourth quarter 2024 earnings release and conference call schedule. The company will release its Q4 2024 earnings after NYSE trading hours on Wednesday, February 5, 2025. A conference call to discuss the results is scheduled for Thursday, February 6, 2025, at 9:00 a.m. EST.
Investors can access the conference call using the dial-in numbers (630) 395-0194 or toll-free (888) 324-8108 with the password 'packaging'. A replay will be available for one week until February 13, 2025, accessible at (203) 369-3997 or toll-free (800) 876-4955. Additionally, a live webcast will be available on the company's website at www.crowncork.com.
Crown Holdings, headquartered in Tampa, Florida, is a global leader in designing, manufacturing, and selling packaging products for consumer and industrial goods.
Crown Holdings (NYSE: CCK) announced the completion of its strategic divestiture of European Tinplate business, Eviosys, to Sonoco Products Company. The company will receive net cash proceeds of approximately $300 million for its remaining 20% equity stake in Eviosys.
According to CFO Kevin Clothier, the proceeds will support Crown's objective of achieving a net leverage ratio below 3.0x by year-end, while progressing toward their longer-term target of 2.5x.
Crown Holdings (NYSE: CCK) has announced a quarterly cash dividend declaration. The company's Board of Directors has approved a dividend of $0.25 per share, which will be paid on November 27, 2024. Shareholders who are on record as of November 14, 2024, will be eligible to receive this dividend payment.
Crown Holdings, Inc. (NYSE: CCK) reported its Q3 2024 financial results. Net sales were $3,074 million, slightly up from $3,069 million in Q3 2023. Income from operations increased to $444 million from $374 million year-over-year. Segment income rose 10% to $472 million. Global beverage shipments improved by 5%, with strong performance in Brazil, Europe, Mexico, and the United States.
The company generated cash from operating activities of $897 million and adjusted free cash flow of $668 million for the first nine months of 2024. Crown Holdings repurchased $117 million of common stock and reduced net debt, ending Q3 with a net leverage ratio of 3.0 times adjusted EBITDA.
Crown Holdings updated its full-year adjusted diluted EPS guidance to $6.25-$6.35, up from the previous $6.00-$6.25 range. Q4 adjusted diluted EPS is expected to be $1.45-$1.55.
Crown Holdings has released its 2022 Sustainability Report, highlighting progress towards its Twentyby30™ program goals. Since 2019, the company has significantly expanded its beverage and food can manufacturing capacity, adding nearly 18 billion cans, 5 new plants, and 14 new production lines. Crown emphasizes its commitment to infinitely recyclable aluminum and steel packaging, aligning with growing consumer preference for sustainable options.
The company is working towards 100% renewable electricity by 2040, supporting its pledge to RE100 and The Climate Pledge to become Net Zero carbon by 2040. Crown acknowledges the challenges of balancing expansion with sustainability goals, highlighting the importance of employee efforts in finding efficiencies and implementing best practices. The report underscores Crown's dedication to fostering a culture of sustainability across its global operations.
Crown Holdings, Inc. (NYSE:CCK), a global leader in packaging products for consumer and industrial goods, has announced its third quarter 2024 earnings release schedule. The company will disclose its financial results for the quarter ending September 30, 2024, after the New York Stock Exchange closes on Thursday, October 17, 2024.
A conference call to discuss these results is scheduled for Friday, October 18, 2024, at 9:00 a.m. (EDT). Interested parties can join the call using the provided dial-in numbers and access password. Additionally, a live webcast of the call will be available on the company's website. A replay of the conference call will be accessible for one week, ending at midnight on October 25, 2024.
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.