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Dec 31, 2024
Crown Q4 2024 Earnings Report
Crown Holdings, Inc. reported its financial results for the fourth quarter and full year ended December 31, 2024.
Key Takeaways
Crown Holdings, Inc. delivered strong fourth-quarter results with a 12% increase in segment income compared to the prior year, driven by a 17% improvement in combined global beverage can segment income due to 4% global volume growth. The company also achieved record adjusted free cash flow for the full year 2024 and significantly reduced net debt.
Fourth-quarter diluted earnings per share were $3.02, with adjusted diluted earnings per share increasing by 28% to $1.59.
Full-year diluted earnings per share were $3.55, and adjusted diluted earnings per share increased by 9% to $6.41.
The company generated a record $814 million in adjusted free cash flow and reduced net debt by $878 million, achieving an adjusted net leverage ratio of 2.7x.
Segment income in the fourth quarter increased to $428 million, up from $382 million in the prior year, primarily due to improved global beverage operations.
Crown
Crown
Crown Revenue by Segment
Crown Revenue by Geographic Location
Revenue by Segment
Americas Beverage Revenue
CapyFin.comEuropean Beverage Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.comTransit Packaging Revenue
CapyFin.comOther Revenue
CapyFin.comRevenue by Geographic Location
Asia Pacific Revenue
CapyFin.com Forward Guidance
Crown Holdings, Inc. expects full-year 2025 adjusted diluted earnings per share to be in the range of $6.60 to $7.00, with adjusted free cash flow of approximately $800 million after estimated capital spending of $450 million. First-quarter 2025 adjusted diluted earnings per share is expected to be between $1.20 and $1.30.
Positive Outlook
- Expected full year 2025 adjusted diluted earnings per share in the range of $6.60-$7.00.
- Expected full year 2025 adjusted free cash flow of approximately $800 million.
- Multi-year global beverage can expansion program substantially completed, leading to significantly reduced capital expenditures.
- Manufacturing platform will allow meeting existing and additional demand.
- First quarter 2025 adjusted diluted earnings per share expected to be in the range of $1.20 to $1.30.
Challenges Ahead
- Industrial activity remains sluggish, impacting Transit Packaging.
- The adjusted effective tax rate is expected to approximate 25% for full year 2025.
- Estimated capital spending of $450 million for full year 2025.
- Unavailability of reliable forecasts for certain items like gains/losses on business sales, restructuring costs, and tax law changes, which could impact GAAP earnings.
- Potential for higher interest rates and energy prices due to inflation.
Revenue & Expenses
Visualization of income flow from segment revenue to net income