Crown Holdings to spend $550M in 2026 to support growth, including international expansion

Core Insights - Crown Holdings reported a year-over-year sales increase in 2025, driven by higher shipments in its European beverage business and North American tinplate [1] - The company experienced a decline in Q4 net income compared to the previous year, despite an increase in net sales for the full year [1] Financial Performance - Q4 net sales reached $3.13 billion, up 7.7% year over year [1] - Q4 net income was $201 million, down from $392 million in Q4 2024 [1] - Full-year 2025 net sales totaled $12.4 billion, an increase of 4.8% year over year [1] - Full-year 2025 net income was $883 million, compared to $560 million in 2024 [1] Beverage Trends - Beverage sales in the Americas rose over 7% year over year to $5.62 billion in 2025 [1] - Energy drinks, sparkling water, and flavored alcohols are performing well in the U.S. market [1] - Beer is showing better performance in Europe than in North America, with a shift from glass and plastic to cans driving demand [1] Aluminum Costs - Tariffs are impacting aluminum costs, creating uncertainty in long-term pricing [1] - The company is concerned about the sustainability costs being passed on to consumers [1] Capacity Planning - Crown Holdings does not plan to invest in adding capacity in North America in the next couple of years [1] - The company has limited open capacity and does not need to pursue additional capacity aggressively [1] Outlook - Executives expect North American volumes to grow by 2% to 3% in 2026, driven by food can demand [1] - Adjusted diluted earnings per share are projected to be between $7.90 and $8.30 [1] - The company anticipates approximately $900 million in adjusted free cash flow and $550 million in capital spending for capacity expansions and upgrades in Brazil, Greece, and Spain [1]