Crown Holdings Q4 net income $32M; adjusted EPS $1.24; FY2024 guidance $5.80-$6.20

CROWN HOLDINGS, INC.

2023-FY EPS reported $3.76 revenue$12,010,000,000

Q4 net sales $2,858M (down 5% YoY); segment income $382M (up 31% YoY).
Q4 reported diluted EPS $0.27; adjusted diluted EPS $1.24 (vs $1.17 prior year).
Full year 2023 adjusted EPS $5.86; segment income record $1,546M.
Guidance: FY2024 adjusted EPS $5.80-$6.20; expects capex ≤$500M in 2024 and 2025.
Plant closures: Batesville, MS and Decatur, IL; also Vietnam/Singapore facilities.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

CROWN HOLDINGS, INC. reported the fourth quarter ended December 31, 2023 results: revenue $2,858 million, net income $32 million, EPS $0.27.

Period: the fourth quarter ended December 31, 2023
Revenue: $2,858 million
Net income: $32 million
EPS: $0.27
Result: reported results

Exact text from the filing

Inc. (NYSE: CCK) today announced its financial results for the fourth quarter and full year ended December 31, 2023. Fourth Quarter Results Net sales in the fourth quarter were $2,858 million compared to $3,012 million in the fourth quarter of 2022 reflecting higher beverage can volumes in Americas Beverage and favorable foreign currency translation of $42 million,

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

CROWN HOLDINGS, INC. reported the full year ended December 31, 2023 results: revenue $12,010 million, net income $450 million, EPS $3.76.

Period: the full year ended December 31, 2023
Revenue: $12,010 million
Net income: $450 million
EPS: $3.76
Result: reported results

Exact text from the filing

compared to $1.17 in 2022, below our prior estimates owing principally to under-absorption of fixed costs and lower equity earnings. Full Year Results Net sales for 2023 were $12,010 million compared to $12,943 million in 2022, reflecting higher beverage can volumes in Americas Beverage and favorable foreign currency translation of $77 million, offset by the pass

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

CROWN HOLDINGS, INC. reported full year 2024 results: EPS $5.80 to $6.20. Guidance initiated.

Period: full year 2024
EPS: $5.80 to $6.20
Guidance: initiated
Result: guidance update

Exact text from the filing

The Company currently estimates full year 2024 adjusted diluted earnings per share to be in the range of $5.80 to $6.20 compared to $5.86 in 2023 reflecting demand softness in the Company's beverage can making equipment and North American aerosol businesses, and a consumer that remains under pressure in most markets.

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CROWN HOLDINGS, INC. filing history →

Source: SEC EDGAR

accession 0001219601-24-000005

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