Crown Holdings, Inc. reported strong second-quarter results for 2025, helped by an increase in global demand for beverage cans, particularly in North America, Europe, and the Middle East.

The company highlighted a 1% rise in beverage can shipments in North America, consistent with expectations, alongside continued shipment growth in Europe and the Middle East. These gains contributed to a 9% year-over-year increase in segment income, which rose to $476 million in Q2.

Commenting on the quarter, Timothy J. Donahue, Chairman, President and Chief Executive Officer, said: “During the second quarter, continued strong performance, led by Americas Beverage, European Beverage and the North American Tinplate businesses led to segment income growth of 9% over the prior year. 

“In addition to shipment growth in Europe and the Middle East, the improvement also reflects favourable product mix and exceptional operational performance throughout global operations. Beverage can shipments in North America advanced 1% in line with expectations. Transit Packaging results remained firm to the prior year, despite a continued tepid industrial production environment, the result of continuing cost reduction efforts.

“We remain excited about the Company’s prospects in 2025 with trailing twelve-month adjusted EBITDA through June approaching $2.1 billion, an 11% increase from same prior period. Reflecting on the Company’s strong performance over the first six months, the Company has increased its full year 2025 expectations for adjusted earnings per share and adjusted free cash flow. 

“The balance sheet is strong, and we are well on our way to achieving our long-term target leverage ratio of 2.5x of adjusted EBITDA. As a result, the Company is well positioned to increase its return of cash to shareholders.”

Net sales rose to $3.15 billion from $3.04 billion in the same period last year, reflecting increased shipments of both beverage and food cans, higher material costs, and favorable currency exchange rates. Adjusted diluted earnings per share climbed 19% to $2.15 from $1.81 a year ago, while reported EPS rose to $1.56 from $1.45.

For the first half of 2025, beverage can growth helped push net income to $374 million, up from $241 million in the prior year, with adjusted EPS improving to $3.81 from $2.83.

Crown increased its full-year guidance, now expecting adjusted EPS between $7.10 and $7.50, and projected adjusted free cash flow of approximately $900 million. The company reaffirmed its long-term net leverage target of 2.5x adjusted EBITDA.