Crown Holdings (NYSE: CCK) lifts sales on higher beverage can shipments

What happened

Crown Holdings, Inc. (NYSE: CCK) reported third-quarter results on October 19, 2026, with net sales of $3.71 billion and adjusted diluted EPS of $2.39.

The company said higher global beverage can shipments and the pass-through of $405 million in higher material costs drove sales. Global beverage can shipments advanced by more than 6%, with double-digit gains in Asia, a 6% increase in North America and 4% growth across Europe.

Nine-month net sales rose to $10.64 billion from $9.24 billion, and adjusted diluted EPS rose to $6.72 from $6.05. Net leverage was 2.5x adjusted EBITDA, and net income attributable to Crown Holdings increased to $645 million from $588 million. Cash and cash equivalents were $629 million at September 30, 2026 versus $1.17 billion a year earlier.

Key numbers

Metric	Latest	Change	Source
Net sales	$3.71 billion	from $3.2 billion, +15.9%	SEC 8-K earnings release
Adjusted diluted EPS	$2.39	from $2.24, +7%	SEC 8-K earnings release
Reported diluted EPS	$2.08	from $1.85, +12.4%	SEC 8-K earnings release
Adjusted free cash flow	$771 million	from $887 million, -13.1%	SEC 8-K earnings release

Read more: Crown (CCK) stock analysis and investment case

Why it matters

The release supports OptimistFi's case that Crown works if its metal-can footprint keeps delivering volume, pricing and cash generation. Management expects full-year adjusted diluted EPS of $8.35 to $8.45 and adjusted free cash flow of at least $950 million after about $550 million of capital spending.

For the first nine months, adjusted free cash flow was $771 million, down from $887 million, after capital expenditures climbed to $310 million from $181 million. The first nine months produced $1.07 billion of operating cash flow. Crown said it repurchased $81 million of common stock in the quarter and had bought back nearly 6% of its outstanding shares over the past 12 months.

The caveat is that segment income slipped to $484 million from $490 million, showing input cost inflation still offset some shipment growth.

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What's next

Management will discuss the quarter on a conference call on October 20, 2026 at 9:00 a.m. EDT. The release says fourth-quarter adjusted diluted EPS should be $1.63 to $1.73, and a result in or above that range would support the outlook.

The company also said commercial start-up at its beverage can plant in Uttar Pradesh is expected in the first quarter of 2028.

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