Crown Holdings reported robust fourth-quarter and full-year 2024 results, surpassing Wall Street expectations and setting a bullish profit outlook for 2025. The company achieved a 28% increase in adjusted diluted EPS to $1.59 for Q4, beating the estimated $1.51. Full-year adjusted diluted EPS rose 9% to $6.41, with record adjusted free cash flow of $814 million. Crown Holdings also reduced net debt by $878 million, achieving an adjusted net leverage ratio of 2.7x. The company anticipates Q1 2025 adjusted diluted EPS between $1.20 and $1.30, exceeding analysts' forecasts.
The strong performance was driven by a 4% increase in global beverage can volumes, with notable growth in Europe and North America. Crown Holdings' management expressed confidence in continued growth, projecting full-year 2025 adjusted diluted EPS between $6.60 and $7.00 and adjusted free cash flow of approximately $800 million. The positive outlook reflects the company's strategic focus on expanding its beverage can segment and optimizing its financial position.
Crown Holdings (CCK) shares surged 7.81% in after-hours trading to $91.75, following a close of $85.10 earlier on February 5th.