Record Segment Income and Adjusted EBITDA
Crown Holdings reported a record segment income of $476 million, up from $437 million in the prior year, and adjusted EBITDA. Free cash flow also improved to $387 million compared to $178 million in the prior year.
Successful North American and European Beverage Growth
North American beverage shipments rose by 1%, while European beverage volumes increased by 7%, contributing significantly to the company's strong performance.
Increased Guidance and Strong Cash Flow
The company raised its full-year adjusted EPS guidance to $7.10 to $7.50 and projected third-quarter adjusted EBITDA to be between $1.95 and $2.05 per share. Free cash flow is estimated at $900 million for the year.
Robust Performance in North American Food Segment
North American food demand saw a significant 9% increase, driven by strong vegetable volumes, leading to a 150% improvement in income for the Other segment.