CROWN HOLDINGS, INC. reported first quarter ended March 31, 2026 results: revenue $3,259 million, net income $175 million, EPS $1.56. Guidance reaffirmed.
“to make strategic investments in growth and return value to shareholders through dividends and disciplined repurchases of its common stock.” Net sales in the first quarter were $3,259 million compared to $2,887 million in the first quarter of 2025 reflecting higher global beverage can shipments, the pass-through of $234 million in higher material costs and favorable”
Material Agreements
CROWN HOLDINGS, INC. amended Second Amended and Restated Credit Agreement with Deutsche Bank AG New York Branch (effective 2026-03-17).
“On March 17, 2026, Crown Holdings, Inc. (the “Company”) entered into a Second Amended and Restated Credit Agreement (the “Restated Credit Agreement”), among CROWN Americas LLC (“Crown Americas”), a wholly-owned indirect subsidiary of the Company, as a U.S. Borrower, Signode Industrial Group US Inc., a wholly-owned indirect subsidiary of the Company, as a U.S. Borrower, Crown European Holdings S.A., a wholly-owned indirect subsidiary of the Company, as European Borrower, CROWN Metal Packaging Canada LP, a wholly-owned indirect subsidiary of the Company, as Canadian Borrower, each of the Subsidiary Borrowers from time to time party thereto (and together with U.S. Borrowers, European Borrower, and Canadian Borrower, the “Borrowers”), the Company, Crown Cork & Seal Company, Inc., and Crown International Holdings, LLC, each as Parent Guarantors, Deutsche Bank AG, Canada Branch, as Canadian Administrative Agent, Deutsche Bank AG, London Branch, as U.K. Administrative Agent, Deutsche Bank AG”
Debt Financings
CROWN HOLDINGS, INC. incurred senior notes of €500,000,000 in aggregate principal amount with several initial purchasers, for whom BNP PARIBAS is acting as representative at 3.750% per year maturing September 30, 2031.
“On September 22, 2025, Crown Holdings, Inc. (the “ Company ”) entered into a Purchase Agreement (the “ Purchase Agreement ”) pursuant to which Crown European Holdings S.A. (the “ Issuer ”), a subsidiary of the Company, agreed to issue and sell to several initial purchasers, for whom BNP PARIBAS is acting as representative, €500,000,000 in aggregate principal amount of senior unsecured notes due 2031 (the “ Notes ”).”
Debt Financings
CROWN HOLDINGS, INC. incurred senior notes of $700,000,000 aggregate principal amount with U.S. Bank Trust Company, National Association at 5.875% per year maturing June 1, 2033.
“On May 27, 2025, Crown Holdings, Inc. (the “ Company ”) completed its note offering of $700,000,000 aggregate principal amount of 5.875% senior unsecured notes due 2033 (the “ Offering ”).”
Debt Financings
CROWN HOLDINGS, INC. incurred senior notes of $700,000,000 aggregate principal amount with BofA Securities, Inc. at 5.875% per year maturing June 1, 2033.
“On May 12, 2025, Crown Holdings, Inc. (the “ Company ”) entered into a Purchase Agreement (the “ Purchase Agreement ”) pursuant to which Crown Americas LLC (the “ Issuer ”), a subsidiary of the Company, agreed to issue and sell to several initial purchasers, for whom BofA Securities, Inc. is acting as the representative, $700,000,000 aggregate principal amount of senior unsecured notes due 2033 (the “ Notes ”).”
Earnings Releases
CROWN HOLDINGS, INC. reported first quarter ended March 31, 2024 results: revenue $2,784 million, net income $67 million, EPS $0.56. Guidance reaffirmed.
“Crown Holdings, Inc. (NYSE: CCK) today announced its financial results for the first quarter ended March 31, 2024. Net sales in the first quarter were $2,784 million compared to $2,974 million in the first quarter of 2023”
Earnings Releases
CROWN HOLDINGS, INC. reported full year 2024 results: EPS $5.80 to $6.20. Guidance initiated.
“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.”
Earnings Releases
CROWN HOLDINGS, INC. reported the full year ended December 31, 2023 results: revenue $12,010 million, net income $450 million, EPS $3.76.
“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”
Earnings Releases
CROWN HOLDINGS, INC. reported the fourth quarter ended December 31, 2023 results: revenue $2,858 million, net income $32 million, EPS $0.27.
“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,”
Debt Financings
CROWN HOLDINGS, INC. incurred senior notes of €500,000,000 with NA at 4.750% maturing March 15, 2029.
“On December 11, 2023, Crown European Holdings S.A. (the “ Issuer ”), a wholly-owned subsidiary of Crown Holdings, Inc. (the “ Company ”), completed its note offering (the “ Offering ”) of €500,000,000 aggregate principal amount of 4.750% senior unsecured notes due 2029 (the “ Notes ”).”
Debt Financings
CROWN HOLDINGS, INC. incurred senior notes of €500,000,000 with BNP Paribas at 4.750% per year maturing March 15, 2029.
“On November 30, 2023, Crown Holdings, Inc. (the “ Company ”) entered into a Purchase Agreement (the “ Purchase Agreement ”) pursuant to which Crown European Holdings S.A. (the “ Issuer ”), a subsidiary of the Company, agreed to issue and sell to several initial purchasers, for whom BNP Paribas is acting as representative, €500,000,000 in aggregate principal amount of senior unsecured notes due 2029 (the “ Notes ”). The Notes will mature on March 15, 2029 and will accrue interest at a rate of 4.750% per year.”
Andrew Teno resigned as Director at CROWN HOLDINGS, INC..
“On November 20, 2023, Jesse Lynn and Andrew Teno each provided notice of their resignation from the Board of Directors of Crown Holdings, Inc. (the "Company"), effective on such date.”
Jesse Lynn resigned as Director at CROWN HOLDINGS, INC..
“On November 20, 2023, Jesse Lynn and Andrew Teno each provided notice of their resignation from the Board of Directors of Crown Holdings, Inc. (the "Company"), effective on such date.”
Earnings Releases
CROWN HOLDINGS, INC. reported the third quarter ended September 30, 2023 results: revenue $3,069 million, net income $159 million, EPS $1.33. Guidance raised.
“Crown Holdings, Inc. (NYSE: CCK) today announced its financial results for the third quarter ended September 30, 2023. Net sales in the third quarter were $3,069 million compared to $3,259 million in the third quarter of 2022 reflecting higher beverage can volumes in North America and favorable foreign currency translation of $60 million, offset by lower volumes across most other businesses and the pass through of $187 million in lower material costs.”
Earnings Releases
CROWN HOLDINGS, INC. reported third quarter 2023 and full year 2023 results: EPS adjusted diluted earnings per share range: third quarter $1.70 - $1.80, full year $6.10 - $6.30.
“We continue to expect full year improved operating results in global beverage as well as in Transit Packaging. Third quarter adjusted diluted earnings per share are expected to be in the range of $1.70 to $1.80 and full year 2023 adjusted diluted earnings per share in the range of $6.10 to $6.30 reflecting the impacts of higher transactional foreign exchange expense and lower equity earnings from our previous guidance. We affirm our previously issued guidance of adjusted EBITDA growth between 8% and 12% for 2023 with an expected adjusted effective tax rate between 24% and 25%.”
Debt Financings
CROWN HOLDINGS, INC. incurred senior notes of €500,000,000 aggregate principal amount with initial purchasers at 5.000% maturing May 15, 2028.
“On May 18, 2023, Crown European Holdings S.A. (the “ Issuer ”), a wholly-owned subsidiary of Crown Holdings, Inc. (the “ Company ”), completed its note offering (the “ Offering ”) of €500,000,000 aggregate principal amount of 5.000% senior unsecured notes due 2028 (the “ Notes ”).”
Debt Financings
CROWN HOLDINGS, INC. incurred senior notes of €500,000,000 with initial purchasers (BNP Paribas as representative) at 5.000% per year maturing May 15, 2028.
“On May 9, 2023, Crown Holdings, Inc. (the “ Company ”) entered into a Purchase Agreement (the “ Purchase Agreement ”) pursuant to which Crown European Holdings S.A. (the “ Issuer ”), a subsidiary of the Company, agreed to issue and sell to several initial purchasers, for whom BNP Paribas is acting as representative, €500,000,000 in aggregate principal amount of senior unsecured notes due 2028 (the “ Notes ”). The Notes will mature on May 15, 2028 and will accrue interest at a rate of 5.000% per year.”
Earnings Releases
CROWN HOLDINGS, INC. reported second quarter 2023 results: EPS $1.60 to $1.70. Guidance initiated.
“Second quarter adjusted diluted earnings per share is expected to be in the range of $1.60 to $1.70 which includes headwinds from higher interest and pension expense.”
Earnings Releases
CROWN HOLDINGS, INC. reported first quarter ended March 31, 2023 results: revenue $2,974 million, net income $102 million, EPS $0.85.
“Net sales in the first quarter were $2,974 million compared to $3,162 million in the first quarter of 2022 reflecting higher beverage can volumes in Americas Beverage, offset by lower volumes across most other businesses, the pass through of approximately $100 million in lower steel and aluminum costs and unfavorable foreign currency translation of $36 million. Income from operations was $269 million in the first quarter compared to $344 million in the first quarter of 2022. Segment income in the first quarter of 2023 was $320 million compared to $383 million in the prior year first quarter as benefits from the contractual recovery of prior years’ inflationary cost increases in European Beverage and cost reduction initiatives in Transit Packaging were offset by $60 million of year over year inventory impact of steel repricing in the Other segment and lower volumes. Commenting on the quarter, Timothy J. Donahue, Chairman, President and Chief Executive Officer, stated, “Operating results”
Earnings Releases
CROWN HOLDINGS, INC. reported FY 2023 results: EPS $6.20 to $6.40. Guidance initiated.
“The Company currently estimates full year 2023 adjusted diluted earnings per share to be in the range of $6.20 to $6.40, including a $0.40 per diluted share year over year impact from additional noncash pension and postretirement.”
Earnings Releases
CROWN HOLDINGS, INC. reported FY 2022 results: revenue $12,943 million, net income $727 million, EPS $5.99.
“Net sales for the full year of 2022 were $12,943 million compared to $11,394 million in 2021, primarily due to the pass through of higher raw material costs and increased beverage sales unit volumes, which more than offset unfavorable foreign currency translation of $372 million. Page 1 of 12 News Release Corporate Headquarters 770 Township Line Road Yardley, PA 19067 Income from operations was $1,336 million for the full year 2022 compared to $1,363 million in 2021. Segment income for the full year 2022 was $1,443 million versus $1,500 million in the prior year period, primarily due to costs associated with higher inventory levels, higher energy prices and unfavorable foreign currency translation of $29 million. Interest expense was $284 million for the full year 2022 compared to $253 million in 2021 primarily due to higher interest rates. Net income attributable to Crown Holdings in 2022 was $727 million compared to a loss of $560 million in 2021. Reported diluted earnings per share”
Earnings Releases
CROWN HOLDINGS, INC. reported Q4 2022 results: revenue $3,012 million, net income $89 million, EPS $0.74.
“Net sales in the fourth quarter were $3,012 million compared to $3,054 million in the fourth quarter of 2021 reflecting the pass through of higher raw material costs and increased beverage sales unit volumes, offset by lower volumes in the Transit Packaging businesses and unfavorable foreign currency translation of $92 million. Income from operations was $229 million in the fourth quarter compared to $303 million in the fourth quarter of 2021. Segment income in the fourth quarter of 2022 was $292 million compared to $357 million in the prior year fourth quarter reflecting costs associated with higher inventory levels, lower cost absorption from planned inventory reductions and higher energy prices. Commenting on the quarter, Timothy J. Donahue, Chairman, President and Chief Executive Officer, stated, “The operating environment remained challenging in the fourth quarter, as the impacts from inflation and higher interest rates adversely affected the Company's income performance. Global b”
Governance Changes
CROWN HOLDINGS, INC.: Amended and restated bylaws effective December 12, 2022, updating special meeting rights, universal proxy rules, and forum selection clause (effective 2022-12-12).
“Effective December 12, 2022, the Board amended and restated the Company’s Amended and Restated By-Laws.”
Material Agreements
CROWN HOLDINGS, INC. amended Rights Agreement Amendment with Equiniti Trust Company, as Rights Agent (effective 2022-12-13).
“On December 13, 2022, the Company entered into the Amendment No. 1 to the Rights Agreement (the “ Rights Agreement Amendment ”) with Equiniti Trust Company, as Rights Agent”
Material Agreements
CROWN HOLDINGS, INC. entered into Director Appointment and Nomination Agreement with Carl C. Icahn and the persons and entities listed therein, (collectively, the "Icahn Group") (effective 2022-12-12).
“On December 12, 2022, Crown Holdings, Inc. (the “ Company ”) entered into a Director Appointment and Nomination Agreement (the “ Agreement ”) with Carl C. Icahn and the persons and entities listed therein, (collectively, the “ Icahn Group ”)”
Jesse Lynn was appointed as member of the Board at CROWN HOLDINGS, INC..
“On December 12, 2022, pursuant to the Agreement, the Board appointed each of Andrew Teno and Jesse Lynn to serve as a member of the Board effective immediately.”
Andrew Teno was appointed as member of the Board at CROWN HOLDINGS, INC..
“On December 12, 2022, pursuant to the Agreement, the Board appointed each of Andrew Teno and Jesse Lynn to serve as a member of the Board effective immediately.”
Marsha C. Williams was elected as Director at CROWN HOLDINGS, INC..
“On February 24, 2022, Crown Holdings, Inc. (the “ Company ”) announced that Marsha C. Williams was elected to serve on the Board of Directors of the Company (the “ Board ”), effective on March 1, 2022.”
Rose Lee resigned as Director at CROWN HOLDINGS, INC..
“On January 18, 2022, Rose Lee, a member of the Board of Directors (the “ Board ”) of Crown Holdings, Inc. (the “ Company ”), notified the Company that she has decided not to stand for re-election at the Company’s 2022 Annual Meeting of Shareholders”
Kevin C. Clothier was appointed as Chief Financial Officer at CROWN HOLDINGS, INC..
“On January 7, 2022, Crown Holdings, Inc. (the "Company") entered into an employment agreement with its Senior Vice President and Chief Financial Officer Kevin C. Clothier (the "Employment Agreement") in connection with Mr. Clothier's promotion to Chief Financial Officer of the Company.”
David A. Beaver was appointed as Vice President & Treasurer at CROWN HOLDINGS, INC..
“Mr. David A. Beaver, age 45, the Company’s current Corporate Controller, has been appointed the Company’s new Vice President & Treasurer, effective January 1, 2022.”
Christy L. Kalaus changed role as Vice President and Corporate Controller at CROWN HOLDINGS, INC..
“Ms. Christy L. Kalaus, age 42, the Company’s Assistant Corporate Controller, was promoted to Vice President and Corporate Controller, effective January 1, 2022.”
Kevin C. Clothier changed role as Senior Vice President and Chief Financial Officer at CROWN HOLDINGS, INC..
“Kevin C. Clothier, age 53, the Company’s Vice President & Treasurer, will assume the role of Senior Vice President and Chief Financial Officer, effective January 1, 2022.”
Thomas A. Kelly departed as Senior Vice President and Chief Financial Officer at CROWN HOLDINGS, INC..
“the upcoming retirement of Thomas A. Kelly, the Company’s Senior Vice President and Chief Financial Officer, who will retire in January 2022.”
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