Financial Data and Key Metrics Changes - Earnings for the quarter were $1.81 per share compared to $1.45 per share in the prior year quarter, with adjusted earnings per share at $2.15 compared to $1.81 in the prior year quarter [3] - Net sales increased by 3.6% compared to the prior year quarter, primarily due to higher shipments in North American Beverage and European Beverage [3] - Free cash flow improved to $387 million from $178 million in the prior year, reflecting higher income and lower capital spending [4] Business Line Data and Key Metrics Changes - Global Beverage segment income advanced 9% in the quarter, following a 21% improvement in the prior year's second quarter [7] - Americas Beverage reported a 10% increase in segment income, with North American shipments advancing 1% and Brazil showing 2% growth [8] - North American food demand increased by 9% in the second quarter, driven by strong vegetable volumes, leading to a 150% improvement in income in the other segment [10] Market Data and Key Metrics Changes - In Asia Pacific, income declined as Southeast Asian market volumes were down high single digits compared to the prior year, impacted by tariffs affecting consumer confidence [9] - European Beverage unit volumes advanced 6%, contributing to record income across the region [8] Company Strategy and Development Direction - The company is raising its guidance for the full year adjusted EPS to a range of $7.1 to $7.5 per share, reflecting strong performance and potential impacts from tariffs [4] - The company is focused on returning cash to shareholders while maintaining a healthy balance sheet, with net leverage expected to be approximately 2.5 times by the end of 2025 [5] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding potential impacts of tariffs on consumer and industrial activity, but noted strong performance in the first half of the year [4] - The outlook for Europe remains positive, with expectations for continued growth driven by sustainable packaging needs [25] Other Important Information - The company expects to maintain a strong balance sheet and continue returning cash to shareholders, with a focus on capital projects that support growth [52] - The restructuring charge of approximately $40 million was primarily due to asset write-downs in a Chinese plant and severance costs in Signode [35] Q&A Session Summary Question: Expectations for segments in Q3 - Management indicated that while Q3 comparisons are challenging, they expect improvement in European beverage and North American food, with Americas beverage performance likely to be flat compared to last year [14][15] Question: Strength in non-reportable segments - Management noted that strength in non-reportable segments is due to investments in the North American food business and easier comparisons from last year [18] Question: Customer conversations regarding market tightness in Europe - Management remains bullish on the need for more cans in Europe, driven by sustainable packaging trends, despite potential soft spots [24] Question: Restructuring charge details - The restructuring charge was primarily due to asset write-downs and severance costs, with expectations for benefits to materialize in the future [35] Question: Impact of tariffs on beverage can volumes - Management stated that they do not see significant destocking or direct tariff impacts in Europe, but are cautious about the overall economic environment [41] Question: Capital deployment priorities - The primary goal is to increase returns to shareholders, with a focus on supporting customer needs and growth opportunities [51] Question: Demand softness in the U.S. due to immigration enforcement - Management noted that despite political and economic noise, can demand remains strong, with beverage units in cans up 4.5% [58] Question: Sustainability of margins in North America - Management indicated that while margins are currently strong, continuous improvement efforts are ongoing to maintain and enhance profitability [109]

Core Insights - Crown Holdings reported revenue of $3.15 billion for the quarter ended June 2025, reflecting a year-over-year increase of 3.6% and a surprise of +0.39% over the Zacks Consensus Estimate of $3.14 billion [1] - The company's EPS for the quarter was $2.15, up from $1.81 in the same quarter last year, resulting in an EPS surprise of +15.59% compared to the consensus estimate of $1.86 [1] Revenue Performance - External Sales in the Americas Beverage segment reached $1.41 billion, exceeding the average estimate of $1.38 billion, with a year-over-year change of +6% [4] - European Beverage segment sales were reported at $635 million, surpassing the average estimate of $621.2 million, marking a year-over-year increase of +13.4% [4] - Transit Packaging segment sales were $526 million, slightly below the average estimate of $529.17 million, reflecting a year-over-year decline of -4.4% [4] - Other segments reported sales of $327 million, in line with the average estimate of $327.53 million, showing a year-over-year increase of +3.8% [4] - Asia Pacific sales were $256 million, falling short of the average estimate of $298.86 million, representing a year-over-year decrease of -11.7% [4] Segment Income Analysis - Segment Income for the Americas Beverage was $268 million, exceeding the average estimate of $241.66 million [4] - European Beverage segment income was reported at $97 million, slightly below the average estimate of $98.9 million [4] - Corporate and other segments reported a loss of $46 million, worse than the average estimate of $-41 million [4] - Transit Packaging segment income was $72 million, above the average estimate of $65.57 million [4] - Other segments reported income of $35 million, significantly higher than the average estimate of $20.42 million [4] - Asia Pacific segment income was $50 million, below the average estimate of $55.65 million [4] Stock Performance - Crown Holdings' shares returned +2.5% over the past month, compared to the Zacks S&P 500 composite's +5.4% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

Crown Holdings (CCK) came out with quarterly earnings of $2.15 per share, beating the Zacks Consensus Estimate of $1.86 per share. This compares to earnings of $1.81 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +15.59%. A quarter ago, it was expected that this packaging company would post earnings of $1.22 per share when it actually produced earnings of $1.67, delivering a surprise of +36.89%.Over the last four quarters, th ...

[Performance Overview & Outlook](index=1&type=section&id=Performance%20Overview%20%26%20Outlook) Crown Holdings reported strong Q2 2025 results, with segment income up 9% and adjusted diluted EPS rising to $2.15, leading to increased full-year 2025 adjusted EPS guidance of $7.10-$7.50 and projected $900 million in free cash flow [Financial Highlights](index=1&type=section&id=Financial%20Highlights) Crown Holdings reported strong second-quarter 2025 results with a **9%** increase in segment income and a **19%** rise in adjusted diluted EPS to **$2.15**. The company raised its full-year 2025 guidance for adjusted EPS to a range of **$7.10** to **$7.50** and expects approximately **$900 million** in adjusted free cash flow, while reaffirming its long-term net leverage target of **2.5x** Financial Highlights - Q2 | Metric | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Diluted EPS | $1.56 | $1.45 | | Adjusted Diluted EPS | $2.15 | $1.81 | | Income from Operations | $391 million | $379 million | | Segment Income | $476 million | $437 million | - The company has raised its full-year 2025 guidance and provided a Q3 outlook - **Q3 2025 Adjusted Diluted EPS:** Expected to be between **$1.95** and **$2.05** - **Full Year 2025 Adjusted Diluted EPS:** Guidance range increased to **$7.10** to **$7.50** - **Full Year 2025 Adjusted Free Cash Flow:** Expected to be approximately **$900 million** - **Long-Term Net Leverage Ratio Target:** Reaffirmed at **2.5x**[8](index=8&type=chunk)[10](index=10&type=chunk)[11](index=11&type=chunk) [Second Quarter 2025 Performance](index=1&type=section&id=Second%20Quarter%202025%20Performance) In Q2 2025, segment income grew **9%** year-over-year, driven by strong performance in Americas Beverage, European Beverage, and North American Tinplate. Net sales increased to **$3,149 million** from **$3,040 million**, reflecting higher shipments and the pass-through of material costs, despite lower shipments in Asia Pacific and Transit Packaging - Segment income growth of **9%** was primarily led by the Americas Beverage, European Beverage, and North American Tinplate businesses, supported by shipment growth in Europe and the Middle East, favorable product mix, and strong operational performance[2](index=2&type=chunk) Key Financial Metrics - Q2 | Financial Metric | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Net Sales | $3,149 million | $3,040 million | | Income from Operations | $391 million | $379 million | | Segment Income | $476 million | $437 million | | Net Income | $181 million | $174 million | | Diluted EPS | $1.56 | $1.45 | | Adjusted Diluted EPS | $2.15 | $1.81 | - Net sales growth was driven by increased beverage and food can shipments in North America and European Beverage, the pass-through of **$120 million** in higher material costs, and a **$23 million** favorable foreign currency translation[3](index=3&type=chunk) [Six-Month 2025 Performance](index=1&type=section&id=Six-Month%202025%20Performance) For the first six months of 2025, net sales rose to **$6,036 million** from **$5,824 million** in the prior year. Income from operations saw a significant increase to **$756 million**, and net income attributable to Crown Holdings grew to **$374 million**, resulting in diluted EPS of **$3.21** Key Financial Metrics - H1 | Financial Metric | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Net Sales | $6,036 million | $5,824 million | | Income from Operations | $756 million | $624 million | | Segment Income | $874 million | $745 million | | Net Income | $374 million | $241 million | | Diluted EPS | $3.21 | $2.01 | | Adjusted Diluted EPS | $3.81 | $2.83 | - The performance improvement in the first half was attributed to the pass-through of **$214 million** in higher material costs, increased shipments in Americas Beverage, European Beverage, and North America food can, improved manufacturing performance, and savings from prior restructuring in Asia Pacific[6](index=6&type=chunk)[7](index=7&type=chunk) [2025 Outlook](index=3&type=section&id=2025%20Outlook) Based on strong first-half results, Crown Holdings increased its full-year 2025 adjusted diluted EPS guidance to **$7.10**-**$7.50**. The company anticipates Q3 adjusted diluted EPS to be between **$1.95** and **$2.05** and projects generating approximately **$900 million** in adjusted free cash flow for the full year - **Full Year 2025 Adjusted Diluted EPS:** Guidance raised to a range of **$7.10** to **$7.50** - **Third Quarter 2025 Adjusted Diluted EPS:** Expected to be in the range of **$1.95** to **$2.05**[10](index=10&type=chunk) - **Full Year 2025 Adjusted Free Cash Flow:** Expected to be approximately **$900 million** - **Capital Spending:** Approximately **$450 million** planned for 2025 - **Adjusted Effective Tax Rate:** Expected to be approximately **25%**[11](index=11&type=chunk) [Financial Statements and Segment Details](index=5&type=section&id=Financial%20Statements%20and%20Segment%20Details) The company's Q2 and H1 2025 financial statements show growth in net sales and income, driven by strong beverage segments, while the balance sheet reflects reduced debt and increased shareholders' equity, alongside improved operating cash flow [Consolidated Statements of Operations](index=5&type=section&id=Consolidated%20Statements%20of%20Operations) The unaudited statements of operations for Q2 and the first six months of 2025 show year-over-year growth in net sales, income from operations, and net income. For the six-month period, net income attributable to Crown Holdings increased from **$241 million** in 2024 to **$374 million** in 2025 Six Months Ended June 30 (in millions) | Line Item | 2025 | 2024 | | :--- | :--- | :--- | | Net sales | $6,036 | $5,824 | | Income from operations | $756 | $624 | | Net income attributable to Crown Holdings | $374 | $241 | | Diluted EPS | $3.21 | $2.01 | Three Months Ended June 30 (in millions) | Line Item | 2025 | 2024 | | :--- | :--- | :--- | | Net sales | $3,149 | $3,040 | | Income from operations | $391 | $379 | | Net income attributable to Crown Holdings | $181 | $174 | | Diluted EPS | $1.56 | $1.45 | [Segment Performance](index=6&type=section&id=Segment%20Performance) In Q2 2025, Americas Beverage and European Beverage segments drove growth in both net sales and segment income. Asia Pacific experienced a decline in sales and income, while Transit Packaging saw lower sales but stable income. The 'Other' category showed significant income growth Net Sales by Segment (in millions) | Segment | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :--- | :--- | :--- | :--- | :--- | | Americas Beverage | $1,405 | $1,325 | $2,725 | $2,547 | | European Beverage | $635 | $560 | $1,147 | $1,042 | | Asia Pacific | $256 | $290 | $535 | $569 | | Transit Packaging | $526 | $550 | $1,008 | $1,070 | Segment Income (in millions) | Segment | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :--- | :--- | :--- | :--- | :--- | | Americas Beverage | $268 | $243 | $504 | $432 | | European Beverage | $97 | $88 | $164 | $139 | | Asia Pacific | $50 | $55 | $97 | $97 | | Transit Packaging | $72 | $73 | $132 | $141 | [Consolidated Balance Sheets](index=10&type=section&id=Consolidated%20Balance%20Sheets) As of June 30, 2025, Crown Holdings' balance sheet showed total assets of **$14,478 million**, a decrease from **$14,858 million** a year prior. Total debt (short-term and long-term) was reduced to **$6,490 million** from **$7,410 million**, and shareholders' equity increased to **$2,891 million** Key Balance Sheet Items (in millions) | Item | June 30, 2025 | June 30, 2024 | | :--- | :--- | :--- | | Total current assets | $4,652 | $4,932 | | Total assets | $14,478 | $14,858 | | Total current liabilities | $4,373 | $4,688 | | Total debt (Current + Long-term) | $6,490 | $7,410 | | Crown Holdings shareholders' equity | $2,891 | $2,507 | [Consolidated Statements of Cash Flows](index=11&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) For the first six months of 2025, net cash from operating activities increased to **$463 million** from **$343 million** in the prior year. The company used **$209 million** for common stock repurchases. Adjusted free cash flow for the six-month period more than doubled to **$387 million** from **$178 million** in 2024 Six Months Ended June 30 (in millions) | Cash Flow Activity | 2025 | 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities | $463 | $343 | | Net cash used for investing activities | ($44) | ($143) | | Net cash used for financing activities | ($427) | ($70) | | Net change in cash and cash equivalents | $22 | $111 | - Adjusted free cash flow for the first six months of 2025 was **$387 million**, a significant increase from **$178 million** in the same period of 2024[30](index=30&type=chunk) [Non-GAAP Measures and Supplemental Data](index=3&type=section&id=Non-GAAP%20Measures%20and%20Supplemental%20Data) The company provides reconciliations for non-GAAP measures, showing adjusted net income and segment income, while demonstrating improved adjusted EBITDA and a reduced net leverage ratio, alongside a favorable foreign currency impact in Q2 2025 [Reconciliation of Non-GAAP Measures](index=3&type=section&id=Reconciliation%20of%20Non-GAAP%20Measures) The company adjusts GAAP results for items like intangibles amortization and restructuring costs to provide non-GAAP measures such as segment income and adjusted net income. For Q2 2025, reported net income of **$181 million** was adjusted to **$249 million**, resulting in adjusted diluted EPS of **$2.15** compared to the reported **$1.56** Reconciliation to Segment Income - Q2 (in millions) | Line Item | 2025 | 2024 | | :--- | :--- | :--- | | Income from operations (GAAP) | $391 | $379 | | Intangibles amortization | $38 | $41 | | Restructuring and other | $47 | $17 | | Segment income (Non-GAAP) | $476 | $437 | Reconciliation to Adjusted Net Income - Q2 (in millions) | Line Item | 2025 | 2024 | | :--- | :--- | :--- | | Net income (GAAP) | $181 | $174 | | Adjustments (net) | $68 | $43 | | Adjusted net income (Non-GAAP) | $249 | $217 | [Adjusted EBITDA and Net Leverage Ratio](index=13&type=section&id=Adjusted%20EBITDA%20and%20Net%20Leverage%20Ratio) For the twelve months ending June 30, 2025, adjusted EBITDA reached **$2,073 million**, an **11%** increase from the prior twelve-month period. This strong performance, combined with debt reduction, led to an improvement in the adjusted net leverage ratio from **3.2x** to **2.7x** Adjusted EBITDA & Leverage (Twelve Months Ended June 30) | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Adjusted EBITDA | $2,073 million | $1,875 million | | Net Debt | $5,554 million | $5,996 million | | Adjusted Net Leverage Ratio | 2.7x | 3.2x | - The company is progressing towards its long-term target leverage ratio of **2.5x** of adjusted EBITDA[3](index=3&type=chunk) [Foreign Currency Impact](index=13&type=section&id=Foreign%20Currency%20Impact) In the second quarter of 2025, foreign currency translation had a net favorable impact, increasing total net sales by **$23 million** and segment income by **$5 million**. The European Beverage segment was the primary contributor to this positive effect Q2 2025 Foreign Currency Impact (in millions) | Segment | Net Sales Impact | Segment Income Impact | | :--- | :--- | :--- | | Americas Beverage | $(10) | - | | European Beverage | $19 | $3 | | Asia Pacific | $7 | $1 | | Transit Packaging | $6 | $1 | | **Total** | **$23** | **$5** | [Other Information](index=3&type=section&id=Other%20Information) This section outlines Crown Holdings' business as a global packaging supplier, provides details for an earnings conference call, and includes a cautionary statement regarding forward-looking information and associated risks [Company Information and Forward-Looking Statements](index=3&type=section&id=Company%20Information%20and%20Forward-Looking%20Statements) This section provides details for a conference call to discuss the results, a cautionary note regarding forward-looking statements, and a brief overview of Crown Holdings' business. The company is a leading global supplier of rigid packaging products and transit and protective packaging products, headquartered in Tampa, Florida - Crown Holdings, Inc. is a leading global supplier of rigid packaging for consumer marketing companies and transit/protective packaging for various end markets[17](index=17&type=chunk) - The press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those expressed. Key risk factors are discussed in the company's Form 10-K[15](index=15&type=chunk)[16](index=16&type=chunk) - A conference call to discuss the earnings release was scheduled for July 22, 2025, at 9:00 a.m. (EDT)[14](index=14&type=chunk)

Core Viewpoint - Crown Holdings, Inc. reported strong financial results for the second quarter of 2025, with significant growth in segment income and adjusted earnings per share, driven by robust performance in its Americas and European Beverage segments, as well as operational improvements across its global operations [2][3][5]. Financial Performance - Net sales for the second quarter of 2025 were $3,149 million, an increase from $3,040 million in the same quarter of 2024, attributed to higher shipments of beverage and food cans in North America and Europe, despite lower shipments in Asia Pacific and Transit Packaging [3][6]. - Income from operations rose to $391 million in Q2 2025, compared to $379 million in Q2 2024, while segment income increased to $476 million from $437 million year-over-year, reflecting improved operational performance [4][22]. - Net income attributable to Crown Holdings was $181 million in Q2 2025, up from $174 million in Q2 2024, with reported diluted earnings per share increasing to $1.56 from $1.45 [5][8]. Six-Month Results - For the first half of 2025, net sales reached $6,036 million, compared to $5,824 million in the first half of 2024, driven by higher shipments and the pass-through of increased material costs [6][8]. - Income from operations for the first six months was $756 million, up from $624 million in the same period of 2024, with segment income improving to $874 million from $745 million [7][22]. Outlook - The company has raised its full-year 2025 guidance for adjusted diluted earnings per share to a range of $7.10 to $7.50, reflecting strong performance in the first half of the year [10][11]. - The expected adjusted diluted earnings per share for Q3 2025 is projected to be between $1.95 and $2.05 [10]. Segment Performance - In Q2 2025, the Americas Beverage segment reported net sales of $1,405 million, up from $1,325 million in Q2 2024, while European Beverage sales increased to $635 million from $560 million [23]. - Segment income for Americas Beverage rose to $268 million from $243 million, and for European Beverage, it increased to $97 million from $88 million year-over-year [23]. Cash Flow and Capital Expenditures - The company expects to generate approximately $900 million in adjusted free cash flow for 2025 after capital expenditures of about $450 million [11][12]. - Cash flows from operating activities for the first half of 2025 were $463 million, compared to $343 million in the same period of 2024 [33].

Core Insights - Crown Holdings, Inc. has been recognized by Forbes as the top packaging company on track to achieve net-zero carbon emissions, ranking 22nd overall among 200 evaluated companies [1][2] Group 1: Recognition and Achievements - Crown's recognition as a Net Zero Leader for 2025 highlights the dedication of its global team towards sustainability goals [2] - The company ranked 22nd in emissions projections, risk management, financial strength, governance, and organizational preparedness [1] Group 2: Sustainability Initiatives - Crown's Twentyby30™ initiative, established in 2020, serves as a roadmap for achieving its net zero target, focusing on emissions reductions, water preservation, recycling, and ethical sourcing [3] - The company emphasizes that sustainability is central to its business, fostering innovation and progress in reducing its carbon footprint [4] Group 3: Reporting and Transparency - Crown's 2024 Sustainability Report titled "Built to Last" provides measurable data on its sustainability progress and highlights environmental and social goals that have been achieved or surpassed [4]

"Good vibes and great cocktails are two of my favorite things, so partnering with Crown Royal for the Pancake Palace was a no-brainer," Harichi said. "I mean, who wouldn't want to swap villa life for a cowboy hat, even if just for one night?" Blending the staples of country culture – cowboys, whisky and roadside diners – the Crown Royal Pancake Palace will come to life this summer as the ultimate late-night destination at a surprise pop-up experience. Brand fans and invited guests +21 will step into a count ...

The market expects Crown Holdings (CCK) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2025. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released ...

Company Overview - Silver Crown Royalties Inc. is a publicly traded silver royalty company with four silver royalties, three of which are revenue-generating [4] - The company's business model provides investors with exposure to precious metals, serving as a hedge against currency devaluation while minimizing the impact of cost inflation associated with production [4] Recent Financial Activity - The company closed the final tranche of its non-brokered offering, issuing 132,693 Units at a price of C$6.50 per Unit, resulting in gross proceeds of approximately C$862,505.50 [1] - A total of 235,531 Units were issued in the offering, generating cumulative gross proceeds of C$1,530,951.50 [2] Use of Proceeds - Proceeds from the final tranche will be allocated to fund the company's silver royalty acquisition on the Igor 4 project in Peru, as well as for general and administrative expenses [3]

Core Insights - Crown Castle (CCI) shares have increased by 13% year to date, outperforming the industry's growth of 3.7% [1][9] - The company's strategy to enhance its tower business is expected to support growth due to rising wireless connectivity usage [1] - The demand for wireless data is projected to rise significantly, prompting service providers to expand and densify their networks [1] Financial Performance - CCI reported a 5% consolidated organic growth in Q1 2025, driven by increased demand across its tower business portfolio [3] - The company has long-term lease agreements with major U.S. carriers, ensuring steady recurring revenues and top-line stability [4] - As of March 31, 2025, CCI had cash and cash equivalents of $60 million and a net debt to last quarter annualized adjusted EBITDA ratio of 5.9X [5] Liquidity and Credit Position - CCI has $7 billion of undrawn amounts available under its senior unsecured revolving credit facility as of March 31, 2025 [6] - The company holds investment-grade credit ratings of BBB, BBB+, and Baa3 from major rating agencies, facilitating access to debt markets on favorable terms [6] Market Position and Risks - CCI's extensive portfolio includes over 40,000 towers in the top 100 trading areas in the U.S., positioning it well for network investments driven by 5G deployment [3] - The company faces potential challenges from consolidation in the wireless industry and high customer concentration [10] - Analysts have a bearish outlook on CCI, with a Zacks Rank of 3 (Hold) and a downward revision of the 2025 FFO per share estimate by 9.3% to $4.18 [10]