Crown Holdings, Inc. announced its financial results for the third quarter ended September 30, 2026, reporting an increase in diluted earnings per share and providing updated guidance for the remainder of the year. The company reported diluted earnings per share of $2.08 for the third quarter of 2026, compared to $1.85 in the same period of 2025. Adjusted diluted earnings per share increased by 7% to $2.39, up from $2.24 in the prior year.
Net sales for the third quarter of 2026 were $3,711 million, a significant increase from $3,202 million in the third quarter of 2025. The company attributed this growth to higher global beverage can shipments and the pass-through of $405 million in higher material costs. Income from operations was $442 million in the third quarter of 2026, compared to $423 million in the prior year.
For the first nine months of 2026, net sales totaled $10,638 million, compared to $9,238 million in the same period of 2025. Net income attributable to Crown Holdings was $645 million for the first nine months of 2026, up from $588 million in the prior year.
In its 2026 outlook, Crown Holdings raised its guidance for adjusted diluted earnings per share to a range of $8.35 to $8.45. The company also expects adjusted free cash flow to be at least $950 million after capital spending of approximately $550 million. Additionally, the company projects fourth-quarter adjusted diluted earnings per share to be between $1.63 and $1.73.
During the third quarter, Crown Holdings repurchased $81 million of its common stock. Over the past twelve months, the company has acquired nearly 6% of its outstanding shares. The company also noted that its net leverage ratio is 2.5x adjusted EBITDA.
Timothy J. Donahue, Chairman, President and Chief Executive Officer, stated that global beverage can volumes increased by 6% in the quarter, driven by double-digit gains in Asia, a 6% increase in North America, and 4% growth across Europe. The company also highlighted that groundbreaking commenced in September for a new beverage can plant in Uttar Pradesh, India, with commercial start-up expected in the first quarter of 2028.
