Crown Holdings, Inc. reported solid financial results for the fourth quarter and full year ended December 31, 2025, as record adjusted earnings and cash flow helped the global packaging manufacturer finish the year on a high note.

For the fourth quarter, Crown posted diluted earnings per share of $1.31 and adjusted diluted EPS of $1.74, a 9 % increase from the prior year. Net sales for the quarter rose to about $3.13 billion, driven by higher beverage can shipments and favourable currency impacts.

Over the full year, the company delivered diluted EPS of $6.38 and a record adjusted $7.79, up 22 % from 2024. Operating cash flow reached $1.53 billion, while adjusted free cash flow topped $1.14 billion – also a record – exceeding $10 per share. Crown returned approximately $625 million to shareholders and reduced its net leverage ratio to 2.5 times.

Chief Executive Timothy Donahue said the performance reflects continued momentum across beverage can and tinplate segments, with adjusted EBITDA climbing about 8 % on the year.

Looking ahead, Crown forecast 2026 adjusted earnings per share of $7.90 to $8.30 and roughly $900 million in adjusted free cash flow, underscoring management’s confidence in ongoing growth.

Despite the upbeat results, some market reactions have been mixed, with shares trading slightly lower following the release.