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Crown Holdings
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Latest analysis
Updated Oct 28, 2026
Crown Holdings Q3 2026: Volume growth offsets input cost inflation across beverage segments.
Crown Holdings delivered 9-month revenue of $10.6 billion, up 15% from $9.2 billion year-over-year, driven by $1.0 billion in pass-through of higher material costs and 6% organic volume growth in beverage cans. Segment income remained under pressure from input cost inflation and freight headwinds, particularly in Transit Packaging and parts of Asia Pacific. The company is executing a $550 million capex program centered on beverage can capacity expansion in Brazil, India, Greece, UK, and Spain, targeting 2026-2028 completions. Leverage stands at 2.34x, below the company's 2.5x long-term target, with $1.3 billion of undrawn revolving credit capacity and an active $700 million share buyback authorization remaining.
Tone: cautiousRevenue
$12.4B
CCK 10-K · FY 2025
Employees
23,000
Revenue FY2024
$11.8B
Founded
1892
Profile
CCK 10-K Item 1 · Feb 27, 2026Crown Holdings is a leading global diversified packaging business founded in 1892, manufacturing metal cans and ends for beverage, food, and aerosol markets alongside a broad range of transit packaging products. The company operates 179 plants across 39 countries with approximately 23,000 employees. Its beverage can operations account for roughly 73% of consolidated net sales, with the remainder split across transit packaging, food cans, aerosol, and other metal packaging.
Read filing description ↓ Collapse description ↑
Crown Holdings, Inc. is a Pennsylvania corporation and a leading global diversified packaging business that manufactures metal cans and ends (aluminum and steel) for the beverage, food, and aerosol industries and a wide range of transit packaging products and solutions from multiple substrates including steel, paper, and plastic. The Company's transit packaging products include automation and equipment technologies, protective packaging solutions, and steel and plastic consumables which are sold into the metals, food and beverage, construction, agricultural, corrugated, and general industries. At December 31, 2025, the Company operated 179 plants along with sales and service facilities throughout 39 countries and had approximately 23,000 employees. In 2025, consolidated net sales for the Company were $12.4 billion with 61% derived from operations outside the United States. Approximately 73% of the Company's consolidated net sales were derived from the Company's global beverage can business. Over the last several years, the Company has deployed capital to expand production capacity in its global beverage can operations to support growing customer demand in both the alcoholic and non-alcoholic drink categories serving local, regional and global customers. The beverage can continues to disproportionately be the package of choice for new beverage product introductions. The Company continues to drive innovation by increasing its ability to offer multiple specialty can sizes, including slim and sleek cans, to help customers differentiate their products. It also continues to deliver new printing and decorating capabilities, as well as services that aid customers throughout the entire production cycle, from consultation and development to line implementation and quality assurance.
Primary products
- aluminum beverage cans and ends
- steel beverage cans and ends
- glass bottles
- steel crowns
- aluminum caps
- food cans and ends
Business segments
End markets
Geographies
Named customers
For the years ended December 31, 2025, 2024 and 2023, one customer accounted for approximately 12%, 12%, and 11%, respectively, of the Company's consolidated net sales, and another customer accounted for approximately 11%, 12%, and 12%, respectively, of the Company's consolidated net sales.
Named competitors
“The Company competes with other packaging manufacturers as well as with fillers, food processors and packers, some of whom manufacture containers for their own use and for sale to others.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Net sales increased primarily due to $507 million from the pass-through of higher aluminum, steel, and other commodity costs, higher volumes in European Beverage and Other, and favorable foreign currency translation of $84 million, partially offset by lower volumes in Asia Pacific and Transit Packaging.
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