Crown Holdings delivered strong third-quarter results, with earnings per share rising 13% year-over-year to $1.85, driven by increased segment income and robust cash flow from operational efficiencies.
- Adjusted EPS rose to $2.24, exceeding expectations and reflecting improved performance across various segments.
- Net sales grew by 4.2%, supported by a 12% increase in European beverage shipments, despite challenges in Latin America.
- Free cash flow improved significantly to $887 million year-to-date, with strategic share repurchases totaling $314 million and over $400 million returned to shareholders.
- The company achieved its long-term net leverage target of 2.5 times, reinforcing its commitment to a strong balance sheet.
- Full-year adjusted EPS guidance raised to $7.7 to $7.8, indicating continued confidence in performance despite market uncertainties.
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