Packaging company Crown Holdings has reported sales growth in the first quarter (Q1) of 2026, benefiting from higher shipments.
Net sales were $3.26bn in the three-month period ending 31 March 2026, compared to $2.89bn in the same quarter last year.
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The company attributed the increase to higher global beverage can shipments, the pass-through of $234m in higher material costs and favourable foreign currency of $74m.
Net income attributable to Crown Holdings was $175m in the quarter, down from $193m in the first quarter of 2025.
Reported diluted earnings per share were $1.56 in Q1 2026 compared to $1.65 in the prior year.
Adjusted net income rose to $209m from $195m while adjusted diluted earnings per share climbed to $1.86 from $1.67.
Income from operations was $365m in Q1 2026, in line with the year-ago period, noted the company.
Management reaffirmed its full-year 2026 guidance, projecting adjusted diluted EPS of $7.90–$8.30 and $900m in adjusted free cash flow, after around $550m in capital expenditures.
Crown Holdings chairman, president and Timothy J Donahue said: “The company got off to a solid start for the year, driven by strong results in our European and Asian beverage can businesses, beverage can equipment, and our North American food can and closures businesses.
“Global beverage can volumes advanced 5%, led by robust shipments throughout Europe and Asia-Pacific. North American shipments advanced 1% in the quarter as a strong March, up 8% over the prior year, helped overcome a slow start to the year, the result of widespread winter storms in January.”
Last year, Crown Holdings announced various executive leadership changes.
The company promoted North American Beverage can business president Gary Gavin to the role of president of the Crown Americas division while Djalma Novaes Jr was appointed executive vice-president and chief operating officer.
