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) is a global leader in the manufacturing of rigid packaging products for consumer goods and industrial products. Headquartered in Tampa, Florida, Crown's extensive portfolio includes beverage cans, food cans, aerosol cans, metal closures, and transit packaging solutions. The company's reach extends to major markets across Europe, South America, and Southeast Asia, reflecting its significant global footprint.
In the fourth quarter and full year of 2023, Crown reported net sales of $2,858 million and $12,010 million respectively. The increase in beverage can volumes in the Americas and favorable foreign currency translations were key drivers, despite lower material costs and volumes in other segments. The company also achieved a notable 30% improvement in segment income during the fourth quarter, primarily due to strong performance in the Americas Beverage segment.
Throughout 2023, Crown focused on operational efficiency and modernization. The closure of plants in Batesville, Mississippi, and Decatur, Illinois, along with facilities in Ho Chi Minh City, Vietnam, and Singapore, marked strategic moves towards greater efficiency. The company also announced a 15-year Virtual Power Purchase Agreement (VPPA) with Enel Green Power España, emphasizing its commitment to sustainability and reducing greenhouse gas emissions.
Crown's sustainability initiatives are further highlighted by its Twentyby30™ program, which aims for 75% renewable energy by 2030 and 100% by 2040. The company's recent ASI Chain of Custody (CoC) Standard V2 certification for its Mexican operations underscores its dedication to ethical sourcing and transparency across its supply chain, enhancing its corporate stewardship and reducing its environmental impact.
The company continues to innovate and expand its capabilities. The completion of beverage can expansion projects in Mesquite, Nevada, and Peterborough, U.K., positions Crown to meet rising market demands with reduced capital investment. As it enters 2024, Crown remains focused on cash generation and operational improvements, projecting capital expenditures of no more than $500 million for the next two years.
Looking ahead, Crown anticipates adjusted diluted earnings per share to range between $5.80 and $6.20 for full year 2024, driven by strong performance in its core businesses and strategic cost management. With a robust plan for continuous growth and sustainability, Crown Holdings Inc. stands as a formidable player in the global packaging industry.
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.
Crown Holdings, Inc. (NYSE: CCK) has finalized the sale of its European Tinplate business to KPS Capital Partners, retaining a 20% ownership stake. The business, which includes 44 facilities across 17 countries, generated €1.9 billion in revenue and €220 million in EBITDA in 2020, employing around 6,300 individuals. This strategic move aims to enhance Crown's focus on core operations while leveraging retained interest in its former business. Detailed financial impacts and potential risks associated with this transaction are noted in forward-looking statements.
Crown Holdings announced a cash dividend of 20 cents per share, set for payment on August 19, 2021. Shareholders on record as of August 5, 2021 will be eligible for this dividend. The company operates as a leading global supplier of rigid packaging products, catering to various consumer markets. Its headquarters are located in Yardley, Pennsylvania. This dividend declaration reflects the company's commitment to returning value to shareholders.
Crown Holdings reported strong financial results for Q2 2021, with net sales of $2,856 million, up from $2,137 million in Q2 2020. Adjusted earnings per share rose to $2.14, a 61% increase year-over-year. Beverage can volumes grew 20%, contributing significantly to income from operations of $385 million. The company also repurchased $379 million in shares this year. Outlook for Q3 adjusted earnings is projected between $1.90 and $2.00 per share, with a full-year estimate of $7.30 to $7.40 per share.
Crown Holdings, Inc. (NYSE:CCK) is set to announce its earnings for Q2 2021, concluding on June 30, 2021, after market close on July 19, 2021. A conference call will follow on July 20, 2021, at 9:00 a.m. EDT, where executives will discuss performance results. Investors can join the call via dial-in numbers or listen to a live webcast on the company’s website. Crown Holdings is a prominent global provider of rigid packaging products and services, headquartered in Yardley, Pennsylvania.
Crown Holdings will host a virtual investor event on May 27, 2021, from 9:00 AM to 12:00 PM EDT. Senior management will present on company trends, opportunities, and key metrics, followed by a Q&A session. Registration is available via the provided link and on the company's website. Crown Holdings is a global supplier of rigid packaging products and services to various markets, headquartered in Yardley, Pennsylvania.
Crown Holdings, Inc. (NYSE: CCK) has declared a cash dividend of 20 cents per share, payable on May 20, 2021. This dividend is for shareholders of record as of May 6, 2021. The announcement reflects the company's ongoing commitment to returning value to its shareholders while maintaining a strong financial position in the rigid packaging industry.
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