Crown Holdings, Inc., founded in 1892 as Crown Cork & Seal Company, is a global packaging manufacturer headquartered in Tampa, Florida. The company designs and produces a wide range of rigid packaging products, primarily metal cans for beverages and food, as well as aerosol cans, metal closures, and specialty packaging. ...Crown Holdings, Inc., founded in 1892 as Crown Cork & Seal Company, is a global packaging manufacturer headquartered in Tampa, Florida. The company designs and produces a wide range of rigid packaging products, primarily metal cans for beverages and food, as well as aerosol cans, metal closures, and specialty packaging. Its consumer packaging segment serves major brands in the beverage and food industries, while its transit packaging division offers protective packaging materials, strapping tools, and equipment for industrial applications. With over 23,000 employees worldwide, Crown operates in more than 40 countries and is a key player in the packaging industry. Financially, the company generates around $11.8 billion in annual revenue, with a market capitalization of over $13 billion. Its profitability metrics, such as return on equity and operating margins, reflect a solid financial performance. The company's leadership, under CEO Timothy J. Donahue, focuses on innovation and sustainability, with ongoing investments in state-of-the-art manufacturing facilities and eco-friendly initiatives. Crown is committed to reducing environmental impact through recyclable packaging and efficient production processes. The company's brand-building focus helps its customers strengthen their market presence. Overall, Crown Holdings remains a reliable partner for global consumer and industrial markets, continuously adapting to evolving market demands.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$12.4B
+4.8%
+12.5%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$734.0M
+73.1%
+40.0%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+18.3%
-14.7%
+3.2%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+13.2%
+10.0%
+41.2%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+5.9%
+65.2%
+24.4%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$1.1B
+39.2%
+523.4%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+8.9%
+32.8%
+476.2%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
205.9%
-11.7%
-1.3%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
1.03x
-15.4%
-6.2%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Thank you for standing by. The conference will begin shortly. Until such time, you will hear music. Thank you, and please continue to stand by. Good morning, and welcome to Crown Holdings, Inc. First Quarter 2026 Conference Call. Your lines have been placed on a listen-only mode until the question and answer session. Please be advised that this conference is being recorded. I would now like to turn the conference over to Mr. Kevin Charles Clothier, Senior Vice President and Chief Financial Officer. You may begin.
Kevin Charles Clothier: Thank you, Elle, and good morning. With me on today's call is Timothy J. Donahue, President and Chief Executive Officer. If you do not already have the earnings release, it is available on our website at crowncourt.com. On this call, as in the earnings release, we will be making a number of forward-looking statements. Actual results could vary from such statements. Additional information concerning factors that could cause actual results to vary is contained in the press release and our SEC filings, including our Form 10-K for 2025 and subsequent filings. Earnings for the quarter were $1.56 per share, compared to $1.65 per share in the prior-year quarter. Adjusted earnings per share were $1.86, up 11% compared to $1.67 in the prior-year quarter. Net sales for the quarter were up 13% compared to the prior-year quarter, reflecting a 5% increase in global beverage can volumes, $234 million from the pass-through of higher raw material cost, and $74 million from favorable foreign exchange. Segment income was $405 million in the quarter, compared to $398 million in the prior year, reflecting higher beverage can shipments in Europe and Asia Pacific, partially offset by lower volumes in Brazil and lower cost recovery in North American beverage. Second quarter 2026 adjusted earnings per diluted share are projected to be in the range of $2.10 to $2.20 per share, and full year is projected to be $7.90 to $8.30 per share, with a $0.05 headwind in the second quarter and a $0.10 headwind for the full year due to the conflict in The Middle East. The adjusted earnings guidance for the full year includes net interest expense of approximately $355 million, exchange rates at current levels with the euro at 1.17 to the dollar, a full year tax rate of approximately 25%, depreciation of approximately $330 million, noncontrolling interest expense of approximately $145 million, while dividends to noncontrolling interest are expected to be $110 million. Share repurchases are expected to be approximately $600 million. We maintain our 2026 full year free cash flow guidance of approximately $900 million after $550 million of capital spending to support our growth projects in Brazil, Greece, Spain, and India. The company's net leverage was 2.7 times at the end of the first quarter, reflecting seasonal working capital build. The company expects year-end net leverage to be approximately 2.5 times, in line with our long-term target. …
