Crown Holdings lifts adjusted EPS 7% to $2.39 on 6% jump in beverage can volumes

Crown Holdings sold more cans and earned more per share in the third quarter, though rising input costs ate into segment profit. The packaging maker said Monday adjusted earnings rose 7% to $2.39 a share from $2.24 a year earlier.

Reported diluted earnings were $2.08 a share, up from $1.85, and net income attributable to Crown rose to $225 million from $214 million, according to its earnings release filed with an 8-K.

Net sales jumped to $3.71 billion from $3.20 billion, helped by higher beverage can shipments and $405 million of higher material costs passed through to customers.

Cans carry the quarter

Global beverage can volumes rose 6%, with double-digit gains in Asia, 6% growth in North America and 4% in Europe, Chairman, President and CEO Timothy Donahue said. Those volumes "helped offset the majority of rising input cost pressures," he said.

Segment income slipped to $484 million from $490 million, as the extra shipments were offset by input cost inflation. Income from operations rose to $442 million from $423 million.

Crown also said it began construction in September on a beverage can plant in Uttar Pradesh, India, with commercial start-up expected in the first quarter of 2028.

Outlook and buybacks

Crown expects full-year adjusted EPS of $8.35 to $8.45 and fourth-quarter adjusted EPS of $1.63 to $1.73. It forecast adjusted free cash flow of at least $950 million after about $550 million of capital spending.

The company repurchased $81 million of stock in the quarter and said it has bought back nearly 6% of its outstanding shares over the past 12 months. Net leverage stood at 2.5 times adjusted EBITDA.

By the numbers

• Adjusted EPS: $2.39, vs. $2.24
• Diluted EPS: $2.08, vs. $1.85
• Net sales: $3.71 billion, vs. $3.20 billion
• Global beverage can volumes: up 6%
• 2026 adjusted EPS outlook: $8.35 to $8.45
• Third-quarter buybacks: $81 million

Sources

1. Crown Holdings, Inc., Form 8-K with Exhibit 99 earnings release for the third quarter of 2026, filed Oct. 19, 2026, accession 0001628280-26-066281

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