Crown (CCK) Q2 2026 earnings summary

Executive summary

• Second quarter net sales rose 16% year-over-year to $3,668 million, driven by higher beverage can volumes, material cost pass-through, and favorable FX.

• Diluted EPS increased to $2.23 from $1.56, and adjusted diluted EPS rose 16% to $2.49 from $2.15 year-over-year.

• Net income attributable to shareholders was $245 million, up from $181 million year-over-year.

• Over $500 million was returned to shareholders in the first half through share repurchases and dividends.

• Global beverage can volumes grew 5%, with double-digit gains in Asia and strong growth in Europe and North America.

Financial highlights

• Six-month net sales reached $6,927 million, up from $6,036 million year-over-year.

• Income from operations for the first half was $829 million, up from $756 million.

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

• Adjusted free cash flow for the year is projected at least $900 million.

• Gross margin for Q2 2026 was approximately 20.4%.

Outlook and guidance

• Full-year adjusted EPS guidance raised 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 2026.

• Capital spending for 2026 projected at approximately $550 million.

• Net interest expense forecast at $355 million, effective tax rate at 24.4–25%, depreciation at $330 million.

• Guidance reflects caution due to inflation, geopolitical risks, and supply chain disruptions.