Crown Holdings Raises 2026 Cash Flow Floor to $950 Million

Crown Holdings, Inc. raised its minimum 2026 adjusted free cash flow forecast to $950 million as higher beverage-can volumes supported third-quarter sales and a narrower full-year earnings outlook.

The new cash flow floor is $50 million above Crown’s previous forecast. The company also tightened its 2026 adjusted diluted earnings range to $8.35 to $8.45 per share from $8.30 to $8.50. Both ranges have a midpoint of $8.40.

For the quarter ended Sept. 30, net sales reached $3.711 billion, up from $3.202 billion a year earlier. Higher beverage-can volumes contributed to the increase. Sales also included $405 million in higher material costs passed through to customers.

Adjusted diluted earnings rose to $2.39 per share from $2.24. That adjusted figure is a non-GAAP measure, separate from Crown’s reported diluted earnings, which increased to $2.08 per share from $1.85. Net income attributable to Crown reached $225 million, compared with $214 million a year earlier.

Global beverage-can volumes increased 6%. Shipments grew by double digits in Asia, 6% in North America and 4% in Europe. The gains came alongside rising input costs that weighed on segment income.

Segment income, also a non-GAAP measure, slipped to $484 million from $490 million a year earlier. “Robust global beverage can volumes helped offset the majority of rising input cost pressures,” said Timothy J. Donahue, Crown’s chairman, president and CEO.

The adjusted free cash flow forecast accounts for planned capital spending of about $550 million. For the fourth quarter, Crown expects adjusted diluted earnings of $1.63 to $1.73 per share.

Crown has scheduled a results call for Oct. 20 at 9 a.m. ET (13:00 UTC).