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 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.
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.