Crown (CCK) investor relations material

Executive summary

• Second quarter revenue and adjusted EPS both rose 16% year-over-year, with global beverage can volumes up 5% and strong demand across most regions.

• Diluted EPS rose to $2.23 from $1.56 year-over-year; adjusted diluted EPS up to $2.49 from $2.15.

• Full-year adjusted EPS guidance was raised to $8.30–$8.50, reflecting strong first-half performance and positive demand outlook.

• Nearly $600 million was returned to shareholders in the first half through share repurchases and dividends.

• Ongoing geopolitical and inflationary pressures, especially from the Middle East crisis, are being monitored, but demand remains robust.

Financial highlights

• Net sales reached $3.7 billion in Q2, up from the prior year, driven by higher beverage can shipments, material cost pass-through, and favorable FX.

• Segment income was $501 million, up from $476 million year-over-year.

• Adjusted diluted EPS for six months was $4.34, up from $3.81.

• Adjusted free cash flow for the quarter was $601 million, and $472 million for the first half.

• Net leverage ratio stood at 2.5x adjusted EBITDA.

Outlook and guidance

• Full-year adjusted EPS guidance increased to $8.30–$8.50; Q3 adjusted EPS expected at $2.20–$2.30.

• Adjusted free cash flow expected to be at least $900 million for the year.

• Capital spending for 2026 projected at approximately $550 million; share repurchases to continue in the second half.

• Net interest expense forecast at $355 million, effective tax rate at 25%, depreciation at $330 million.

• Guidance reflects caution due to inflation and geopolitical risks, especially in the Middle East.