Crown (CCK) Q1 2026 Earnings Call Transcript

Motley Fool Transcribing, The Motley Fool

Tue, April 28, 2026 astatine 9:40 AM CDT 41 min read

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DATE

Tuesday, April 28, 2026 astatine 9 a.m. ET

CALL PARTICIPANTS

• President and Chief Executive Officer — Timothy J. Donahue

• Senior Vice President and Chief Financial Officer — Kevin Charles Clothier

Full Conference Call Transcript

Kevin Charles Clothier: Thank you, Elle, and bully morning. With maine connected today's telephone is Timothy J. Donahue, President and Chief Executive Officer. If you bash not already person the net release, it is disposable connected our website astatine crowncourt.com. On this call, arsenic successful the net release, we volition beryllium making a fig of forward-looking statements. Actual results could alteration from specified statements. Additional accusation concerning factors that could origin existent results to alteration is contained successful the property merchandise and our SEC filings, including our Form 10-K for 2025 and consequent filings. Earnings for the 4th were $1.56 per share, compared to $1.65 per stock successful the prior-year quarter.

Adjusted net per stock were $1.86, up 11% compared to $1.67 successful the prior-year quarter. Net income for the 4th were up 13% compared to the prior-year quarter, reflecting a 5% summation successful planetary beverage tin volumes, $234 cardinal from the pass-through of higher earthy worldly cost, and $74 cardinal from favorable overseas exchange. Segment income was $405 cardinal successful the quarter, compared to $398 cardinal successful the anterior year, reflecting higher beverage tin shipments successful Europe and Asia Pacific, partially offset by little volumes successful Brazil and little outgo betterment successful North American beverage.

Second 4th 2026 adjusted net per diluted stock are projected to beryllium successful the scope of $2.10 to $2.20 per share, and afloat twelvemonth is projected to beryllium $7.90 to $8.30 per share, with a $0.05 headwind successful the 2nd 4th and a $0.10 headwind for the afloat twelvemonth owed to the struggle successful The Middle East. The adjusted net guidance for the afloat twelvemonth includes nett involvement disbursal of astir $355 million, speech rates astatine existent levels with the euro astatine 1.17 to the dollar, a afloat twelvemonth taxation complaint of astir 25%, depreciation of astir $330 million, noncontrolling involvement disbursal of astir $145 million, portion dividends to noncontrolling involvement are expected to beryllium $110 million.

Share repurchases are expected to beryllium astir $600 million. We support our 2026 afloat twelvemonth escaped currency travel guidance of astir $900 cardinal aft $550 cardinal of superior spending to enactment our maturation projects successful Brazil, Greece, Spain, and India. The company's nett leverage was 2.7 times astatine the extremity of the archetypal quarter, reflecting seasonal moving superior build. The institution expects year-end nett leverage to beryllium astir 2.5 times, successful enactment with our semipermanent target. With that, I volition crook the telephone implicit to Tim.