Crown Holdings falls 5% on weak Q4 guidance despite Q3 beat

Investing.com -- Crown Holdings Inc. (NYSE: CCK) reported third quarter results that exceeded analyst expectations but shares fell 5.9% as the company’s fourth quarter guidance disappointed investors.

The packaging manufacturer posted adjusted earnings per share of $2.39 for the third quarter, beating the analyst consensus of $2.26 by $0.13. Revenue reached $3.71 billion, surpassing the $3.45 billion estimate and marking a 16% increase from $3.20 billion in the same quarter last year.

The company issued fourth quarter adjusted EPS guidance of $1.63 to $1.73, with a midpoint of $1.68 falling short of the analyst consensus of $1.79.

For the full year 2026, Crown Holdings expects adjusted EPS in the range of $8.35 to $8.45, with the midpoint of $8.40 in line with analyst estimates. The company also projected adjusted free cash flow of at least $950 million after capital spending of approximately $550 million. Global beverage can volumes increased 6% in the quarter, driven by double-digit gains in Asia, a 6% increase in North America and 4% growth across Europe.

"The Company performed well during the third quarter, continuing its pace for another exceptional year in 2026," said Timothy J. Donahue, Chairman, President and Chief Executive Officer. "Robust global beverage can volumes helped offset the majority of rising input cost pressures."

Net sales in the third quarter included the pass-through of $405 million in higher material costs. Segment income was $484 million compared to $490 million in the prior year third quarter, as higher shipments were offset by input cost inflation. The company repurchased $81 million of its common stock during the quarter and has acquired nearly 6% of its outstanding shares over the past twelve months. Crown Holdings maintained a net leverage ratio of 2.5 times adjusted EBITDA.

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