Crown Holdings Inc. - CCK STOCK NEWS

Crown Holdings (NYSE: CCK) announced the promotion of Christy L. Kalaus to Vice President and Corporate Controller, effective January 1, 2022, as part of the management succession plan. David A. Beaver, the current Corporate Controller, will transition to Vice President & Treasurer on the same date. The CEO, Timothy J. Donahue, expressed confidence in their finance and accounting expertise, highlighting their integral role in the company's growth. The release includes a cautionary note on forward-looking statements, indicating risks that could influence future performance.

Crown Holdings, Inc. (NYSE: CCK) announced the retirement of Thomas A. Kelly, its CFO since 2013, effective early 2022. Kevin C. Clothier, Vice President & Treasurer, will succeed him on January 1, 2022. Both executives have long histories at the company, with Kelly being a part of Crown since 1992 and Clothier since 1993. The transition is aimed at ensuring continuity and stability in financial leadership. Forward-looking statements highlight potential risks impacting future performance.

Crown Holdings, Inc. (NYSE: CCK) has declared a cash dividend of 20 cents per share, payable on November 26, 2021, to shareholders who are on record by November 12, 2021. The company is recognized as a top global supplier of rigid packaging products and related services. This ongoing commitment to returning value to shareholders reflects confidence in the company's financial health and operational stability.

Crown Holdings reported its Q3 2021 financial results, showing net sales of $2.92 billion, a rise from $2.49 billion in Q3 2020. While diluted earnings per share dipped to $0.79 compared to $1.59 last year, adjusted EPS rose to $2.03, up from $1.96. Global beverage can volumes increased by 3%, boosted by North American growth. Year-to-date, the company repurchased $759 million in shares. Major sustainability achievements were noted, including a top ESG rating. The outlook for Q4 projects adjusted earnings per share between $1.50 and $1.55.

Crown Holdings has partnered with Velox to launch a groundbreaking digital decoration technology for aluminum beverage cans. This innovative solution enables running speeds of up to 500 cans per minute, significantly improving production efficiency compared to traditional methods. The technology allows for enhanced design options, including the ability to print up to 14 colors and various embellishments. It addresses the growing demand among beverage brands for smaller production runs and sustainable packaging solutions. Commercial production is expected to begin in 2022 following pilot testing.

Crown Holdings (NYSE: CCK) announced that its U.K. pension plan, the Metal Box Pension Scheme, will fully insure its liabilities with Pension Insurance Corporation. This transaction covers approximately 10,300 retirees and 2,200 deferred members. The completion of administrative processes is expected in October, with the transfer scheduled for November 2021, eliminating $2.5 billion in cash flow and earnings risk. A non-cash charge of approximately $1.3 billion is anticipated in the fourth quarter. This settlement aims to stabilize Crown's financial outlook.

Crown Holdings, Inc. (NYSE:CCK) will report its third-quarter earnings for the period ending September 30, 2021, after the market close on October 25, 2021. A conference call is scheduled for October 26, 2021, at 9:00 a.m. EDT to discuss these results. Interested participants can join via dial-in numbers or listen to a live webcast on the company’s website. Crown Holdings is a major global supplier of rigid packaging products, headquartered in Yardley, Pennsylvania.

Crown Holdings (NYSE: CCK) announced the establishment of a new aluminum beverage can manufacturing facility in Mesquite, Nevada. This state-of-the-art plant, spanning 355,000 square feet, aims to enhance the company's capacity to serve both existing and potential customers in the Western U.S. The facility is projected to create 126 jobs and is expected to commence operations in Q2 2023. Driven by long-term customer contracts, this investment reflects Crown's commitment to meet the growing demand for aluminum beverage cans amidst rising consumer preferences for sustainable packaging.

Crown Holdings (NYSE: CCK) announced its commitment to The Climate Pledge, aiming for net-zero carbon by 2040, ten years ahead of the Paris Agreement. This initiative involves collaboration with over 200 organizations, focusing on measurable greenhouse gas (GHG) emissions reductions. The company emphasizes the sustainability of metal packaging, which can preserve 70% to 90% of the energy used in production when utilizing recycled materials. Their 'Twentyby30' program establishes science-based targets to enhance production efficiency and reduce emissions.