News

Crown Holdings Lowers 2023 Earnings Outlook

1 Mins read

Crown Holdings, a leading provider of packaging products and equipment for consumer goods, has revised its adjusted earnings per-share forecast for 2023.

Adjusted Earnings Forecast

The company now expects adjusted earnings per share to range between $6.10 and $6.30, reflecting the impact of higher transactional foreign exchange expenses and lower equity earnings compared to its previous guidance. The earlier forecast had projected adjusted earnings in the range of $6.20 to $6.40 per share.

Third-Quarter Earnings Projection

For the third quarter, Crown Holdings has guided for adjusted earnings to be in the range of $1.70 to $1.80 per share.

Increased Beverage Can Shipment Levels Expected

Chief Executive Timothy Donahue stated that the company anticipates a rise in beverage can shipments during the second half of the year due to retail promotional activity, specifically for carbonated soft drinks. Although limited, this increase is expected to have a positive impact on Crown Holding’s performance.

Planned Reduction in Capital Expenditures

Looking ahead to 2024 and 2025, Crown Holdings plans to significantly reduce its capital expenditures to $500 million from this year’s $900 million. This reduction is aimed at generating increased cash flow, which will be utilized to pay down debt and provide returns to shareholders.

Related posts
News

What happens if $FUN hits $0.10? Price scenarios, holder behaviour, and post-breakout plans

3 Mins read
What if a simple $100 investment today could become $1,000 by Christmas? FUNToken sits at $0.009978 on June 30, 2025, just pennies…
News

AAS MINER Announces the Launch of an Innovative Free Cloud Mining Mobile App for Crypto Enthusiasts Worldwide, Opening a New Era of Digital Asset Mining

4 Mins read
LONDON, UK, July 04, 2025 (GLOBE NEWSWIRE) — AAS MINER Announces the Launch of an Innovative Free Cloud Mining Mobile App for…
News

Is Strategy Stock (MSTR) Still a Buy After a 210% Jump?

1 Mins read
Strategy (MSTR) stock has soared about 210% over the past year, fueled by its bold bet on Bitcoin (BTC). For many investors,…

Leave a Reply

Your email address will not be published. Required fields are marked *