Crown Holdings Q2 adjusted EPS $1.81 beats $1.68 YoY; raises FY EPS guidance to $6.00-$6.25

CROWN HOLDINGS, INC.

2024-Q2 EPS reported $2.01 revenue$5,824,000,000

Q2 net sales $3,040M (-2% vs $3,109M); segment income $437M (+5.6% YoY); adjusted EPS $1.81 vs $1.68.
Global beverage can shipments +6% (North America +9%); Europe, Latin America exceeded long-term growth expectations.
Net leverage reduced to 3.2x from 4.0x; expects year-end below 3.0x with Eviosys sale proceeds closing H2 2024.
FY EPS guidance raised to $6.00-$6.25 (prior $5.80-$6.20); free cash flow guided ≥$750M.
Record first-half free cash flow $178M; expects to resume share repurchases while targeting 2.5x net leverage.

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