Crown Holdings, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 06, 2024 at 02:45 am IST
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Crown Holdings, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 2,858 million compared to USD 3,012 million a year ago. Net income was USD 32 million compared to USD 89 million a year ago. Basic earnings per share from continuing operations was USD 0.27 compared to USD 0.75 a year ago. Diluted earnings per share from continuing operations was USD 0.27 compared to USD 0.74 a year ago.
For the full year, sales was USD 12,010 million compared to USD 12,943 million a year ago. Net income was USD 450 million compared to USD 727 million a year ago. Basic earnings per share from continuing operations was USD 3.77 compared to USD 6.01 a year ago. Diluted earnings per share from continuing operations was USD 3.76 compared to USD 5.99 a year ago.
Crown Holdings, Inc. designs, manufactures and sells packaging products for consumer goods and industrial products. The Company's segments include Americas Beverage, European Beverage, Asia Pacific, Transit Packaging and Other. The Americas Beverage segment manufactures infinitely recyclable aluminum beverage cans and ends, glass bottles, steel crowns and aluminum caps. The European Beverage segment manufactures infinitely recyclable aluminum beverage cans and ends in Europe, the Middle East and North Africa. The Asia Pacific segment consists of beverage can and non-beverage can operations, primarily food cans and specialty packaging. The Transit Packaging segment includes its worldwide automation and equipment technologies, protective packaging solutions and steel and plastic consumables. The Company's Other segments include its food can, aerosol can and closures businesses in North America, and beverage tooling and equipment operations in the United States and the United Kingdom.