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Crown (CCK) investor relations material
Crown Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Second quarter performance exceeded expectations, with record segment income, adjusted EBITDA, and free cash flow for both the quarter and first half of the year.
Net sales for Q2 2025 were $3,149 million, up from $3,040 million in Q2 2024, driven by higher material costs pass-through and increased beverage and food can volumes in North America and Europe, partially offset by lower volumes in Asia Pacific and Transit Packaging.
Net income attributable to shareholders for Q2 2025 was $181 million, up from $174 million in Q2 2024; diluted EPS was $1.56 compared to $1.45 year-over-year.
The company raised full-year adjusted EPS guidance by $0.50 per share and now estimates adjusted free cash flow at $900 million.
The company continues to focus on profitable growth, cash flow generation, and shareholder returns through dividends and share repurchases, with a $2 billion repurchase authorization through 2027.
Financial highlights
Q2 earnings per share were $1.81, up from $1.45 in the prior year; adjusted EPS was $2.15, up from $1.81.
Net sales increased 3.6% year-over-year to $3,149 million, with notable shipment gains in North American and European beverage and North American fruit cans.
Segment income reached $476 million, up from $437 million year-over-year, driven by Americas and European Beverage and North American Tinplate.
Free cash flow for the first six months was $387 million, up from $178 million in the prior year.
Six-month net income attributable to shareholders was $374 million, up from $241 million in 2024.
Outlook and guidance
Full-year adjusted EPS guidance raised to $7.10–$7.50 per share; Q3 adjusted EPS projected at $1.95–$2.05.
Adjusted free cash flow for 2025 projected at $900 million after $450 million in capital spending.
Assumptions include net interest expense of $360 million, tax rate of 25%, depreciation of $310 million, and net leverage target of 2.5x by year-end.
The company expects to meet future demand growth with its current installed capital base.
No material direct impact from geopolitical conflicts in Russia/Ukraine or the Middle East is anticipated.
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