Citi previews packaging sector earnings with top picks in BALL, SON, CCK

Citi analysts issued a preview of upcoming packaging sector earnings, identifying Ball Corporation (NYSE: BALL), Sonoco Products (NYSE: SON), and Crown Holdings (NYSE: CCK) as their top picks heading into the second-quarter reporting season, according to a research note.

Crown Holdings is scheduled to report second-quarter earnings Monday after market close. Citi estimates earnings per share of $2.20, compared to a consensus estimate of $2.15. The firm models second-quarter EBITDA of $544 million, roughly flat year-over-year, and expects CCK to reiterate its full-year 2026 guidance range of $7.90 to $8.30. Citi rates CCK a Buy, citing underlying volume growth and a valuation of 9.0x next-twelve-month EBITDA.

Sonoco Products is set to report Wednesday after market close. Citi's estimate of $1.52 per share exceeds the consensus of $1.43. The firm projects second-quarter EBITDA of $333 million, up 2% year-over-year, driven by growth in Industrial Paper. Citi rates SON a Buy at 7.8x NTM EBITDA, noting shares rank in the 4th percentile for crowding among approximately 3,000 U.S. stocks.

Packaging Corporation of America (NYSE: PKG) will also report Wednesday after market close. Citi estimates EPS of $2.30 against a consensus of $2.32 and company guidance of $2.33. The firm models EBITDA of $489 million, up 11% year-over-year. Citi rates PKG Neutral, citing valuation at 10.9x NTM EBITDA versus a five-year average of 9.9x.

Ardagh Metal Packaging (NYSE: AMBP) is scheduled to report Thursday before market open. Citi estimates EPS of $0.06 versus a consensus of $0.05, with projected EBITDA of $215 million, up 3% year-over-year. Citi rates AMBP a Buy and suggests the company could modestly raise its full-year 2026 EBITDA guidance to $760–$785 million from the current range of $750–$775 million.

Across the sector, Citi expects generally positive second-quarter results and reiterated 2026 outlooks, with beverage cans and containerboard demand described as broadly in line with expectations.

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