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Crown Holdings (CCK)
NYSE:CCK
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Earnings Data
Report Date
Feb 11, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$1.52Last Year’s EPS
$1.24Same Quarter Last Year
Strong Buy
Based on 13 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 17, 2024
|% Change Since: -11.26%
|Next Earnings Date:Feb 11, 2025
Earnings Call Sentiment|Positive
The earnings call reflects a strong operational performance with significant growth in segment income and free cash flow. The company made significant progress in reducing net leverage and reported a positive increase in adjusted earnings per share. However, challenges remain in terms of GAAP losses due to pension settlements and decreased performance in Transit Packaging and Asia Pacific segments.Company Guidance
During Crown Holdings' Q3 2024 earnings call, the company provided updated guidance for the year, raising their full-year adjusted earnings per diluted share forecast to a range of $6.25 to $6.35, up from the previous $6 to $6.25. They anticipate fourth quarter earnings per diluted share to be between $1.45 and $1.55. Key assumptions include an interest expense of $380 million, 120 million average common shares outstanding, and a full-year tax rate of approximately 25%. Depreciation is projected to be around $300 million, with noncontrolling interest estimated between $140 million and $150 million. They also expect 2024 adjusted free cash flow to exceed $750 million, following a $100 million pension contribution and capital spending capped at $450 million. The company aims to conclude the year with net leverage below 3x, targeting a long-term net leverage of 2.5x through debt reduction and EBITDA growth, while continuing shareholder returns via dividends and strategic share repurchases.Increase in Segment Income
Segment income increased to $472 million in Q3 2024, compared to $430 million in the prior year, due to volume gains in Americas and European beverage segments.
Strong Free Cash Flow
Free cash flow remained strong at $668 million through nine months, driven by excellent operational performance and reduced capital spending.
Reduction in Net Leverage
Net leverage was reduced to 3x compared to 3.5x for the same period last year, with expectations to end the year below 3x.
Positive Adjusted Earnings Growth
Adjusted earnings per diluted share increased by 15% to $1.99 compared to $1.73 in the prior quarter.
Americas Beverage Volume Growth
Americas Beverage reported a 21% increase in segment income with 10% volume growth, including a 5% increase in North America.
Share Repurchase Program
Crown's Board authorized a repurchase of up to $2 billion of common stock through 2027, with $110 million repurchased in the quarter.
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CCK Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CCK Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 17, 2024 | $93.58 | $97.48 | +4.17% |
| Jul 22, 2024 | $77.03 | $83.90 | +8.92% |
| Apr 29, 2024 | $80.38 | $81.36 | +1.22% |
| Feb 05, 2024 | $87.28 | $75.76 | -13.20% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Crown Holdings (CCK) report earnings?
Crown Holdings (CCK) is schdueled to report earning on Feb 11, 2025, TBA Not Confirmed.
What is Crown Holdings (CCK) earnings time?
Crown Holdings (CCK) earnings time is at Feb 11, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CCK EPS forecast?
CCK EPS forecast for the fiscal quarter 2024 (Q4) is $1.52.
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