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 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.
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.