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Crown Holdings Earnings Surpass Estimates in Q4, Sales Rise Y/Y
CCKCrown Holdings(CCK) ZACKS·2025-02-06 18:46

Core Viewpoint - Crown Holdings, Inc. reported strong fourth-quarter 2024 results, with adjusted EPS exceeding expectations and significant year-over-year growth in earnings and margins [1][9]. Financial Performance - Adjusted EPS for Q4 2024 was 1.59,beatingtheZacksConsensusEstimateof1.59, beating the Zacks Consensus Estimate of 1.52 and increasing 28% year over year [1] - Including one-time items, earnings from continuing operations were 3.02pershare,comparedto3.02 per share, compared to 0.27 in the prior-year quarter [2] - Net sales for Q4 totaled 2.90billion,a1.62.90 billion, a 1.6% increase from 2.86 billion in the previous year, although it missed the consensus estimate of 2.91billion[3]−Grossprofitrose62.91 billion [3] - Gross profit rose 6% year over year to 650 million, with a gross margin of 22.4%, up from 21.4% in the prior year [4] - Selling and administrative expenses increased 1.4% year over year to 147million,whiletotalsegmentoperatingincomeroseto147 million, while total segment operating income rose to 428 million from 382million[5]SegmentPerformance−AmericasBeveragesegmentnetsaleswere382 million [5] Segment Performance - Americas Beverage segment net sales were 1.32 billion, up 2% year over year, with operating profit increasing 7.8% to 275million[6]−EuropeanBeveragesegmentsalesrose16.3275 million [6] - European Beverage segment sales rose 16.3% to 456 million, with operating income significantly improving to 51millionfrom51 million from 18 million [6] - Asia-Pacific segment sales decreased 3.8% to 308million,withoperatingprofitslightlyupto308 million, with operating profit slightly up to 48 million [7] - Transit Packaging segment sales were 511million,downfrom511 million, down from 541 million, with operating profit falling 21.3% to 59million[7]CashFlowandBalanceSheet−Cashandcashequivalentsattheendof2024were59 million [7] Cash Flow and Balance Sheet - Cash and cash equivalents at the end of 2024 were 0.92 billion, down from 1.31billionattheendof2023[8]−Cashgeneratedfromoperatingactivitieswas1.31 billion at the end of 2023 [8] - Cash generated from operating activities was 1.19 billion, compared to 1.45billionintheprioryear[8]−Long−termdebtdecreasedto1.45 billion in the prior year [8] - Long-term debt decreased to 6.06 billion from 6.69billionyearoveryear[8]AnnualPerformance−For2024,adjustedEPSwas6.69 billion year over year [8] Annual Performance - For 2024, adjusted EPS was 6.41, surpassing the consensus estimate of 6.35andimproving96.35 and improving 9% year over year [9] - Total net sales for the year were 11.80 billion, a decline of 1.7% from the previous year, missing the consensus estimate of 11.81billion[10]FutureOutlook−Thecompanyprojectsfull−yearadjustedEPSfor2025tobebetween11.81 billion [10] Future Outlook - The company projects full-year adjusted EPS for 2025 to be between 6.60 and 7.00,withexpectedadjustedfreecashflowof7.00, with expected adjusted free cash flow of 800 million [11] Stock Performance - Crown Holdings' shares have increased by 14.9% over the past year, outperforming the industry growth of 2.8% [12]