Crown lifts 2026 outlook on aluminium can demand

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Crown Holdings delivered higher second-quarter earnings as growing demand for aluminium beverage cans drove stronger shipment volumes across its global operations, encouraging the packaging manufacturer to upgrade its earnings outlook for 2026.

The company reported diluted earnings per share of USD 2.23 for the quarter ended 30 June 2026, compared with USD 1.56 a year earlier. Adjusted diluted earnings per share rose 16 per cent to USD 2.49, while global beverage can volumes increased 5 per cent year on year.

Net sales climbed to USD 3.668 billion, up from USD 3.149 billion in the second quarter of 2025. The increase reflected higher beverage can shipments worldwide, the pass-through of USD 395 million in higher material costs and favourable foreign currency movements worth USD 32 million.

Operating income improved to USD 464 million from USD 391 million a year earlier, while segment income increased to USD 501 million, supported by higher can shipments and solid performances from the company's beverage can equipment and North American tinplate businesses.

Net income attributable to Crown reached USD 245 million, compared with USD 181 million in the corresponding period last year.

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Aluminium cans continue to gain favour

Crown said demand for aluminium beverage cans remained strong across most major markets during the quarter.

Global can shipments grew 5 per cent, led by double-digit growth in Asia, alongside increases of 7 per cent in Europe and 5 per cent in North America. These gains more than offset weaker demand across Latin America.

"The Company is on pace for another exceptional year in 2026," said Timothy J. Donahue, Chairman, President and Chief Executive Officer.

"We expect that global beverage can demand will continue to thrive, as customers and consumers alike continue to increasingly prefer aluminum cans as the most sustainable and responsible beverage packaging option."

To support rising demand, Crown is progressing with previously announced capacity expansion projects in Brazil, Greece and Spain, while constructing a new manufacturing facility in northern India, marking the company's entry into one of the world's fastest-growing beverage markets.

Share buybacks and outlook improve

Crown repurchased USD 305 million of its shares during the second quarter and has bought back more than USD 500 million worth of stock during the first six months of 2026. Over the past 12 months, the company has repurchased nearly 7 per cent of its outstanding shares.

For the first six months of 2026, net sales increased to USD 6.927 billion from USD 6.036 billion a year earlier. Operating income rose to USD 829 million, while adjusted diluted earnings per share improved to USD 4.34 from USD 3.81.

Reflecting the stronger first-half performance, Crown raised its full-year 2026 adjusted diluted earnings per share guidance to between USD 8.30 and USD 8.50, compared with its previous forecast of USD 7.90 to USD 8.30.

The company also expects third-quarter adjusted diluted earnings per share to be in the range of USD 2.20 to USD 2.30 and forecasts adjusted free cash flow of at least USD 900 million this year, after capital expenditure of around USD 550 million.

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