CROWN HOLDINGS, INC. AUTHORIZES $2.0 BILLION OF SHARE REPURCHASES
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) ha annunciato un'autorizzazione al riacquisto di azioni pari a 2,0 miliardi di dollari fino alla fine del 2027, che sostituisce l'autorizzazione precedente del dicembre 2021. Questa decisione riflette il forte bilancio e flusso di cassa dell'azienda, permettendo investimenti aziendali e ritorni per gli azionisti. Il CEO Timothy J. Donahue ha sottolineato che i riacquisti di azioni sono una parte chiave della loro strategia di allocazione del capitale a lungo termine, mirata a creare valore per gli azionisti mantenendo una gestione del capitale disciplinata. L'azienda prevede di investire nella crescita, restituire capitale agli azionisti e ridurre il leverage netto a 2,5 volte. I riacquisti possono essere effettuati sul mercato aperto o attraverso negoziazioni private, con tempistiche e volumi dipendenti da vari fattori, comprese le condizioni di prezzo e di mercato.
Crown Holdings, Inc. (NYSE: CCK) ha anunciado una autorización de recompra de acciones de 2.0 mil millones de dólares hasta finales de 2027, reemplazando la autorización anterior de diciembre de 2021. Esta decisión refleja el fuerte balance y flujo de caja de la compañía, permitiendo inversiones comerciales y retornos para los accionistas. El CEO Timothy J. Donahue enfatizó que las recompras de acciones son una parte clave de su estrategia de asignación de capital a largo plazo, con el objetivo de crear valor para los accionistas mientras se mantiene una gestión de capital disciplinada. La empresa planea invertir en crecimiento, devolver capital a los accionistas y reducir la deuda neta a 2.5 veces. Las recompras pueden realizarse en el mercado abierto o a través de negociaciones privadas, dependiendo del momento y volumen, así como de varios factores que incluyen el precio y las condiciones del mercado.
Crown Holdings, Inc. (NYSE: CCK)는 2027년까지 20억 달러의 자사주 매입 승인을 발표했으며, 이는 2021년 12월 이전의 승인을 대체합니다. 이 결정은 회사의 강력한 재무 상황과 현금 흐름을 반영하며, 비즈니스 투자와 주주 환원을 가능하게 합니다. CEO인 Timothy J. Donahue는 자사주 매입이 장기 자본 배분 전략의 중요한 부분이라고 강조하며, 주주를 위한 가치를 창출하면서도 자본 관리를 철저히 할 계획이라고 밝혔습니다. 회사는 성장에 투자하고, 주주에게 자본을 반환하며, 순 부채를 2.5배로 줄일 것을 계획하고 있습니다. 매입은 공개 시장에서 이루어지거나 비공식적으로 협상될 수 있으며, 타이밍과 규모는 가격 및 시장 조건을 포함한 다양한 요인에 따라 달라집니다.
Crown Holdings, Inc. (NYSE: CCK) a annoncé une autorisation de rachat d'actions de 2,0 milliards de dollars jusqu'à la fin de 2027, remplaçant l'autorisation précédente de décembre 2021. Cette décision reflète le solide bilan et le flux de trésorerie de l'entreprise, permettant d'investir dans les affaires et de rémunérer les actionnaires. Le PDG Timothy J. Donahue a souligné que les rachats d'actions sont une partie clé de leur stratégie d'allocation de capital à long terme, visant à créer de la valeur pour les actionnaires tout en maintenant une gestion rigoureuse du capital. L'entreprise prévoit d'investir dans la croissance, de restituer du capital aux actionnaires et de réduire le levier net à 2,5 fois. Les rachats peuvent être effectués sur le marché libre ou par le biais de négociations privées, avec un timing et un volume dépendant de divers facteurs, y compris le prix et les conditions du marché.
Crown Holdings, Inc. (NYSE: CCK) hat eine Genehmigung zum Aktienrückkauf in Höhe von 2,0 Milliarden US-Dollar bis Ende 2027 angekündigt, die die vorherige Genehmigung vom Dezember 2021 ersetzt. Diese Entscheidung spiegelt die starke Bilanz und den Cashflow des Unternehmens wider und ermöglicht Geschäfts-investitionen und Rückflüsse an die Aktionäre. CEO Timothy J. Donahue betonte, dass Aktienrückkäufe ein wichtiger Bestandteil ihrer langfristigen Kapitalallokationsstrategie sind, die darauf abzielt, Wert für die Aktionäre zu schaffen, während eine disziplinierte Kapitalverwaltung aufrechterhalten wird. Das Unternehmen plant, in Wachstum zu investieren, Kapital an die Aktionäre zurückzugeben und die Nettoverschuldung auf 2,5-mal zu reduzieren. Rückkäufe können in der offenen Mark oder durch private Verhandlungen vorgenommen werden, wobei Timing und Volumen von verschiedenen Faktoren wie Preis und Marktbedingungen abhängen.
- Authorization of $2.0 billion share repurchase program through 2027
- Strong balance sheet and cash flow from operations
- Commitment to investing in business growth
- Plan to reduce net leverage to 2.5 times
- None.
Insights
Crown Holdings' announcement of a
Key takeaways:
- Financial Strength: The size and duration of the program indicate Crown Holdings' expectation of sustained strong cash flows over the next few years.
- Capital Allocation Strategy: This repurchase plan aligns with the company's broader capital allocation approach, balancing growth investments, shareholder returns and debt reduction.
- Debt Management: The stated goal of reducing net leverage to 2.5 times suggests a disciplined approach to financial management, potentially improving the company's credit profile.
- Shareholder Value: By reducing the number of outstanding shares, this program could potentially boost earnings per share and return on equity metrics.
However, investors should note that the actual impact will depend on the execution of the program, including the timing and price of repurchases. The company's ability to maintain operational performance while executing this program will be important to watch.
Crown Holdings'
Industry Confidence: This substantial buyback program may signal Crown Holdings' optimism about the packaging sector's future, particularly in the face of economic uncertainties. It could potentially boost investor confidence in the industry as a whole.
Market Positioning: By reducing its share count, Crown Holdings may be positioning itself more competitively in terms of financial metrics compared to its peers. This could potentially lead to a revaluation of the company's stock relative to the sector.
Flexibility and Timing: The extended timeframe through 2027 provides Crown Holdings with considerable flexibility in executing the repurchases. This allows the company to opportunistically buy back shares during market dips, potentially maximizing the program's impact.
Investor Sentiment: Large buyback programs often signal management's belief that the stock is undervalued. This could attract value investors and potentially lead to increased demand for Crown Holdings' shares.
While the market typically reacts positively to such announcements, investors should also consider the opportunity cost of this capital allocation decision versus alternative uses such as increased R&D or strategic acquisitions.
Commenting on the authorization, Timothy J. Donahue, Chairman, President and Chief Executive Officer, stated, "Share repurchases are an integral part of our longer-term capital allocation strategy. We will continue to remain disciplined stewards of capital as it pertains to investing for growth, returning capital to shareholders, and lowering our debt as we seek to reduce net leverage to 2.5 times. The future of our Company is bright and we look forward to utilizing our robust cash flow towards value creation for shareholders."
Share repurchases under this program may be made in the open market or through privately negotiated transactions, and at times and in such amounts as management deems appropriate. The timing and actual number of shares repurchased will depend on several factors including price, corporate and regulatory requirements and other market conditions.
Cautionary Note Regarding Forward-Looking Statements
Except for historical information, all other information in this press release consists of forward-looking statements. These forward-looking statements involve a number of risks, uncertainties and other factors, including, without limitation, that the Company is not obligated and may not acquire any shares of common stock and the share repurchase plan may be suspended or terminated at any time at the Company's discretion. Important factors that could cause the statements made in this press release or the actual results of operations or financial condition of the Company to differ are discussed under the caption "Forward Looking Statements" in the Company's most recent Form 10-K Annual Report and in subsequent filings made prior to or after the date hereof. The Company does not intend to review or revise any particular forward-looking statement in light of future events.
About Crown Holdings, Inc.
Crown Holdings, Inc., through its subsidiaries, is a leading global supplier of rigid packaging products to consumer marketing companies, as well as transit and protective packaging products, equipment and services to a broad range of end markets. World headquarters are located in
For more information, contact:
Thomas T. Fischer, Vice President, Investor Relations and Corporate Affairs, (215) 552-3720
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SOURCE Crown Holdings, Inc.
FAQ
What is the size and duration of Crown Holdings' new share repurchase program?
How does the new share repurchase program affect Crown Holdings' previous authorization?
What is Crown Holdings' target for net leverage reduction?
How will Crown Holdings execute its share repurchases under this program?
