Crown Holdings, Inc. reported $225 million in third-quarter profit attributable to the company, up from $214 million, while beverage can shipments grew more than 6% worldwide and input costs weighed on segment income.
The packaging maker disclosed the results in an earnings release attached to a Form 8-K filed with the SEC on Oct. 19.
Diluted earnings per share increased to $2.08 from $1.85 a year earlier. Adjusted diluted earnings per share, a non-GAAP measure, rose 7% to $2.39 from $2.24. Adjusted net income remained $259 million, while diluted weighted-average shares fell to 108.3 million from 115.7 million.
Net sales reached $3.71 billion, compared with $3.20 billion a year earlier. The $509 million sales gain included $405 million from passing higher material costs on to customers; increased can shipments also contributed.
Operating income climbed to $442 million from $423 million. Segment income was $484 million, down $6 million year over year, as inflation reduced the benefit from larger shipments.
Shipment growth varied by region. Asia recorded a double-digit increase, while North America and Europe posted gains of 6% and 4%, respectively.
Quarterly adjusted free cash flow fell to $299 million from $500 million a year earlier. Crown forecasts at least $950 million in adjusted free cash flow for 2026 after about $550 million in capital spending.
The company projects full-year adjusted diluted earnings per share of $8.35 to $8.45. Its fourth-quarter projection for the same measure is $1.63 to $1.73.
Crown plans to discuss the results on a conference call Tuesday, Oct. 20, at 9 a.m. ET (13:00 UTC).
