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CCK Q2 Earnings Beat on Strong Beverage Can Volumes, '26 View Raised
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Key Takeaways
Crown Holdings posted Q2 adjusted EPS of $2.49 as global beverage can volumes rose 5%.
CCK raised its 2026 adjusted EPS guidance to $8.30-$8.50 from the prior $7.90-$8.30.
Crown Holdings repurchased more than $500 million in shares in the first half of 2026.
Crown Holdings, Inc. (CCK - Free Report) reported second-quarter 2026 adjusted earnings of $2.49 per share, up 15.8% year over year. The figure surpassed the Zacks Consensus Estimate of $2.15 by 15.81%.
Including one-time items, the company reported earnings of $2.23 per share in the quarter under review compared with $1.56 in second-quarter 2025.
Crown Holdings, Inc. Price, Consensus and EPS Surprise
Net sales increased 16.5% to $3.67 billion and beat the consensus estimate of $3.34 billion by 9.88%. Global beverage can volumes rose 5%, led by 6% growth in Europe and 5% growth in the Americas. This was partially offset by softer demand in Latin America.
Crown Holdings’ Q2 Gross Profit Rises Y/Y
The cost of products sold rose 19.9% year over year to $2.92 billion. On a year-over-year basis, gross profit moved up 4.9% to $748 million. The gross margin declined to 20.4% from the year-ago quarter’s 22.6%. Selling and administrative expenses rose 3.1% year over year to $166 million. Segmental operating income was $501 million compared with the prior-year quarter’s $476 million.
CCK’s Segment Performances in Q2
Net sales in the Americas Beverage segment totaled $1.7 billion, up 20.1% year over year. The improvement reflected higher beverage can volumes and favorable currency translation. Segmental operating profit decreased 1.1% year over year to $265 million.
The European Beverage segment’s sales rose 15.7% year over year to $735 million. Operating income was $107 million compared with the year-ago quarter’s $97 million. The upside was supported by higher shipments and improved operating performance across the region.
The Asia-Pacific segment’s revenues totaled $331 million, up 29.3% year over year. Operating profit was $53 million compared with the prior-year quarter’s $50 million.
Revenues in the Transit Packaging segment totaled $537 million compared with the year-ago quarter’s $526 million. Operating profit fell 5.6% year over year to $68 million as weakness in global industrial markets continued to weigh on performance.
Crown Holdings’ Cash Flow & Balance Sheet Updates
CCK had cash and cash equivalents of $0.66 billion at the end of second-quarter 2026, down from $0.94 billion at the end of the prior-year quarter. The company generated $659 million in cash from operating activities in the first half of 2026 compared with $463 million in the year-ago comparable period.
Crown Holdings’ long-term debt decreased to $5.50 billion as of June 30, 2026, from $5.62 billion as of June 30, 2025. The company repurchased $305 million of common stock during the second quarter. Total repurchases exceeded $500 million in the first six months of 2026 and represented roughly 7% of outstanding shares.
The company emphasized its confidence in long-term cash flow generation while maintaining balance-sheet flexibility. Dividends paid out to shareholders totaled $77 million during the first half, up from $60 million in the prior-year period.
CCK Raises 2026 EPS Outlook
Crown Holdings increased its full-year adjusted earnings guidance to $8.30-$8.50 per share from the prior mentioned $7.90-$8.30. The midpoint of $8.40 implies growth of 10.7% from adjusted earnings of $7.59 in 2025.
For the third quarter, CCK expects adjusted earnings of $2.20-$2.30 per share. It also projects adjusted free cash flow of at least $900 million, with a capital expenditure of $550 million.
The company expects beverage can demand to remain strong through the balance of the year. It highlighted continued momentum in Europe and North America, along with improving market conditions in Brazil.
Crown Holdings Stock’s Price Performance
The company’s shares have gained 10.8% in the past year compared with the industry’s 5.8% growth.
Ball Corporation (BALL - Free Report) is scheduled to release second-quarter 2026 results on Aug. 4. The Zacks Consensus Estimate for BALL’s second-quarter 2026 earnings is pegged at 99 cents per share, suggesting year-over-year growth of 10%.
The Zacks Consensus Estimate for Ball Corp’s top line is pegged at $3.67 billion, indicating growth of 9.8% from the prior-year reported figure. Ball Corp has a trailing four-quarter average surprise of 3.7%.
Silgan Holdings Inc. (SLGN - Free Report) is scheduled to release second-quarter 2026 results on July 29. The Zacks Consensus Estimate for SLGN’s second-quarter 2026 earnings is pegged at 96 cents per share, implying a year-over-year dip of 4.9%.
The Zacks Consensus Estimate for Silgan Holdings’ top line is pegged at $1.62 billion, suggesting an increase of 5.1% from the prior-year reported figure. Silgan Holdings has a trailing four-quarter average surprise of 1.8%.
AptarGroup, Inc. (ATR - Free Report) is scheduled to release second-quarter 2026 results on July 30. The Zacks Consensus Estimate for AptarGroup’s second-quarter 2026 earnings is pegged at $1.34 per share, indicating a year-over-year dip of 19.3%.
The Zacks Consensus Estimate for the company’s top line is pegged at $1 billion, implying growth of 3.8% from the prior-year reported figure. ATR has a trailing four-quarter average surprise of 3.1%.
View the Zacks #1 Rank List
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CCK Q2 Earnings Beat on Strong Beverage Can Volumes, '26 View Raised
Key Takeaways
Crown Holdings, Inc. (CCK - Free Report) reported second-quarter 2026 adjusted earnings of $2.49 per share, up 15.8% year over year. The figure surpassed the Zacks Consensus Estimate of $2.15 by 15.81%.
Including one-time items, the company reported earnings of $2.23 per share in the quarter under review compared with $1.56 in second-quarter 2025.
Crown Holdings, Inc. Price, Consensus and EPS Surprise
Crown Holdings, Inc. price-consensus-eps-surprise-chart | Crown Holdings, Inc. Quote
Net sales increased 16.5% to $3.67 billion and beat the consensus estimate of $3.34 billion by 9.88%. Global beverage can volumes rose 5%, led by 6% growth in Europe and 5% growth in the Americas. This was partially offset by softer demand in Latin America.
Crown Holdings’ Q2 Gross Profit Rises Y/Y
The cost of products sold rose 19.9% year over year to $2.92 billion. On a year-over-year basis, gross profit moved up 4.9% to $748 million. The gross margin declined to 20.4% from the year-ago quarter’s 22.6%.
Selling and administrative expenses rose 3.1% year over year to $166 million. Segmental operating income was $501 million compared with the prior-year quarter’s $476 million.
CCK’s Segment Performances in Q2
Net sales in the Americas Beverage segment totaled $1.7 billion, up 20.1% year over year. The improvement reflected higher beverage can volumes and favorable currency translation. Segmental operating profit decreased 1.1% year over year to $265 million.
The European Beverage segment’s sales rose 15.7% year over year to $735 million. Operating income was $107 million compared with the year-ago quarter’s $97 million. The upside was supported by higher shipments and improved operating performance across the region.
The Asia-Pacific segment’s revenues totaled $331 million, up 29.3% year over year. Operating profit was $53 million compared with the prior-year quarter’s $50 million.
Revenues in the Transit Packaging segment totaled $537 million compared with the year-ago quarter’s $526 million. Operating profit fell 5.6% year over year to $68 million as weakness in global industrial markets continued to weigh on performance.
Crown Holdings’ Cash Flow & Balance Sheet Updates
CCK had cash and cash equivalents of $0.66 billion at the end of second-quarter 2026, down from $0.94 billion at the end of the prior-year quarter. The company generated $659 million in cash from operating activities in the first half of 2026 compared with $463 million in the year-ago comparable period.
Crown Holdings’ long-term debt decreased to $5.50 billion as of June 30, 2026, from $5.62 billion as of June 30, 2025.
The company repurchased $305 million of common stock during the second quarter. Total repurchases exceeded $500 million in the first six months of 2026 and represented roughly 7% of outstanding shares.
The company emphasized its confidence in long-term cash flow generation while maintaining balance-sheet flexibility. Dividends paid out to shareholders totaled $77 million during the first half, up from $60 million in the prior-year period.
CCK Raises 2026 EPS Outlook
Crown Holdings increased its full-year adjusted earnings guidance to $8.30-$8.50 per share from the prior mentioned $7.90-$8.30. The midpoint of $8.40 implies growth of 10.7% from adjusted earnings of $7.59 in 2025.
For the third quarter, CCK expects adjusted earnings of $2.20-$2.30 per share. It also projects adjusted free cash flow of at least $900 million, with a capital expenditure of $550 million.
The company expects beverage can demand to remain strong through the balance of the year. It highlighted continued momentum in Europe and North America, along with improving market conditions in Brazil.
Crown Holdings Stock’s Price Performance
The company’s shares have gained 10.8% in the past year compared with the industry’s 5.8% growth.
CCK’s Zacks Rank
Crown Holdings currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Packaging Products Stocks Awaiting Results
Ball Corporation (BALL - Free Report) is scheduled to release second-quarter 2026 results on Aug. 4. The Zacks Consensus Estimate for BALL’s second-quarter 2026 earnings is pegged at 99 cents per share, suggesting year-over-year growth of 10%.
The Zacks Consensus Estimate for Ball Corp’s top line is pegged at $3.67 billion, indicating growth of 9.8% from the prior-year reported figure. Ball Corp has a trailing four-quarter average surprise of 3.7%.
Silgan Holdings Inc. (SLGN - Free Report) is scheduled to release second-quarter 2026 results on July 29. The Zacks Consensus Estimate for SLGN’s second-quarter 2026 earnings is pegged at 96 cents per share, implying a year-over-year dip of 4.9%.
The Zacks Consensus Estimate for Silgan Holdings’ top line is pegged at $1.62 billion, suggesting an increase of 5.1% from the prior-year reported figure. Silgan Holdings has a trailing four-quarter average surprise of 1.8%.
AptarGroup, Inc. (ATR - Free Report) is scheduled to release second-quarter 2026 results on July 30. The Zacks Consensus Estimate for AptarGroup’s second-quarter 2026 earnings is pegged at $1.34 per share, indicating a year-over-year dip of 19.3%.
The Zacks Consensus Estimate for the company’s top line is pegged at $1 billion, implying growth of 3.8% from the prior-year reported figure. ATR has a trailing four-quarter average surprise of 3.1%.