Crown Holdings (CCK) Q3 2026 Financial Results Summary
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Crown Holdings, Inc. (CCK) Q3 2026: Earnings Growth Amid Rising Costs — Positive Outlook
Crown Holdings, Inc. (NYSE: CCK) reported its third-quarter results for 2026, showcasing a solid performance with diluted earnings per share (EPS) of $2.08, up from $1.85 in the same quarter of 2025. This represents an increase of $0.23 or +12.4% year-over-year (YoY). Additionally, adjusted diluted EPS rose 7% to $2.39 compared to $2.24 in 2025.
This quarter's results are a positive development for shareholders, reflecting the company's ability to navigate rising input costs while still achieving earnings growth. The increase in EPS indicates effective management and operational efficiency, which is crucial in a challenging economic environment.
Key Financial Metrics:
- Net Sales: $3,711 million, up from $3,202 million in Q3 2025, reflecting an increase of $509 million or +15.9% YoY.
- Income from Operations: $442 million, compared to $423 million in Q3 2025, an increase of $19 million or +4.5% YoY.
- Net Income: $225 million, up from $214 million in Q3 2025, an increase of $11 million or +5.1% YoY.
- Adjusted Free Cash Flow: Not explicitly stated for the quarter, but the company expects at least $950 million for the full year.
- Global Beverage Can Volumes: Increased by 6%, driven by double-digit gains in Asia, a 6% increase in North America, and 4% growth in Europe.
Crown Holdings also repurchased $81 million of its common stock during the quarter, reflecting a commitment to returning capital to shareholders. Over the past twelve months, the company has acquired nearly 6% of its outstanding shares, which is a significant move that can enhance shareholder value.
Guidance and Future Outlook:
For the full year 2026, Crown Holdings has provided guidance for adjusted diluted EPS in the range of $8.35 to $8.45, with adjusted free cash flow expected to be at least $950 million. The company anticipates fourth-quarter adjusted diluted EPS to be between $1.63 and $1.73.
Investors should keep an eye on the company's ongoing capacity expansion projects in Brazil, Greece, and Spain, as well as the groundbreaking of a new beverage can plant in Uttar Pradesh, India. This expansion into one of the world's fastest-growing beverage markets is expected to support long-term growth and demand for beverage cans.
Conclusion:
Overall, Crown Holdings' Q3 2026 results demonstrate resilience and growth despite rising costs. The company's ability to increase earnings and manage operational challenges positions it well for future success. Investors should watch for continued growth in beverage can demand and the impact of expansion projects in the upcoming quarters.
Note: All amounts are in millions.
| Three Months Ended | 2026 | 2025 | Nine Months Ended | 2026 | 2025 |
|---|---|---|---|---|---|
| Net sales | $3,711 | $3,202 | Net sales | $10,638 | $9,238 |
| Cost of products sold | $2,987 | $2,478 | Cost of products sold | $8,522 | $7,176 |
| Depreciation and amortization | $115 | $116 | Depreciation and amortization | $349 | $340 |
| Selling and administrative expenses | $159 | $155 | Selling and administrative expenses | $484 | $468 |
| Restructuring and other | $8 | $30 | Restructuring and other | $12 | $75 |
| Income from operations | $442 | $423 | Income from operations | $1,271 | $1,179 |
| Loss on debt extinguishment | - | $3 | Loss on debt extinguishment | - | $1 |
| Other pension and postretirement items | - | $5 | Other pension and postretirement items | - | $9 |
| Foreign exchange loss | $2 | $8 | Foreign exchange loss | $2 | $19 |
| Earnings before interest and taxes | $435 | $410 | Earnings before interest and taxes | $1,251 | $1,150 |
| Interest expense | $97 | $101 | Interest expense | $299 | $303 |
| Interest income | -$10 | -$13 | Interest income | -$36 | -$40 |
| Income from operations before income taxes | $348 | $322 | Income from operations before income taxes | $988 | $887 |
| Provision for income taxes | $89 | $84 | Provision for income taxes | $248 | $208 |
| Equity earnings | $2 | $1 | Equity earnings | $3 | $3 |
| Net income | $261 | $239 | Net income | $743 | $682 |
| Net income attributable to noncontrolling interests | $36 | $25 | Net income attributable to noncontrolling interests | $98 | $94 |
| Net income attributable to Crown Holdings | $225 | $214 | Net income attributable to Crown Holdings | $645 | $588 |
| Earnings per share attributable to Crown Holdings common shareholders | $2.09 | $1.86 | Earnings per share attributable to Crown Holdings common shareholders | $5.88 | $5.08 |
| Diluted earnings per share | $2.08 | $1.85 | Diluted earnings per share | $5.85 | $5.06 |
| Weighted average common shares outstanding - Basic | 107,780 | 115,240 | Weighted average common shares outstanding - Basic | 109,690 | 115,743 |
| Weighted average common shares outstanding - Diluted | 108,320 | 115,700 | Weighted average common shares outstanding - Diluted | 110,270 | 116,220 |
| Actual common shares outstanding at quarter end | 108,050 | 115,340 | Actual common shares outstanding at quarter end | 108,050 | 115,347 |
Note: All amounts are in millions.
| September 30, | 2026 | 2025 |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $629 | $1,172 |
| Receivables, net | $2,116 | $1,738 |
| Inventories | $1,861 | $1,651 |
| Prepaid expenses and other current assets | $309 | $220 |
| Total current assets | $4,915 | $4,781 |
| Goodwill and intangible assets, net | $3,948 | $4,133 |
| Property, plant and equipment, net | $5,215 | $5,032 |
| Other non-current assets | $545 | $607 |
| Total assets | $14,623 | $14,553 |
| Liabilities and equity | ||
| Current liabilities | ||
| Short-term debt | $15 | $142 |
| Current maturities of long-term debt | $127 | $472 |
| Accounts payable and accrued liabilities | $4,176 | $3,525 |
| Total current liabilities | $4,318 | $4,139 |
| Long-term debt, excluding current maturities | $5,711 | $5,775 |
| Other non-current liabilities | $1,133 | $1,140 |
| Noncontrolling interests | $526 | $483 |
| Crown Holdings shareholders’ equity | $2,935 | $3,016 |
| Total equity | $3,461 | $3,499 |
| Total liabilities and equity | $14,623 | $14,553 |
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