Crown Holdings Reports $11.8 Billion in Net Sales for Fiscal Year 2024

Crown Holdings, Inc. reported consolidated net sales of $11.8 billion for the fiscal year ending December 31, 2024, a decrease from $12.0 billion in 2023. The decline in revenue was attributed primarily to a $196 million pass-through of lower aluminum and steel costs, unfavorable foreign currency translation of $23 million, and reduced volumes in the Transit Packaging, Asia Pacific, and Other segments. However, the Americas and European Beverage segments saw a 7% increase in beverage can volumes, contributing positively to the overall performance. The company’s net income for 2024 was $424 million, down from $450 million in the previous year.

In terms of operational changes, Crown Holdings made significant investments to expand its production capacity, particularly in the Americas Beverage segment, where net sales rose to $5.2 billion, up from $5.1 billion in 2023. This growth was driven by a 7% increase in North American beverage can volumes and a 10% increase in Brazil. The company also completed the acquisition of Helvetia Packaging AG, enhancing its European operations, and recorded a gain of $275 million from the sale of its equity method investment in Eviosys.

Crown Holdings operates 189 plants across 39 countries and employed approximately 23,000 people as of December 31, 2024. The company’s workforce includes a significant number of unionized employees, with collective bargaining agreements covering about 10,000 workers. The company did not experience significant labor disruptions during the year and anticipates that upcoming negotiations will not materially affect its operations.

The company continues to focus on sustainability through its Twentyby30 program, which sets measurable goals to be achieved by 2030. In 2024, Crown Holdings was recognized as a leader in sustainability within the Containers and Packaging industry by Sustainalytics. The company is also addressing challenges related to raw material costs, supply chain disruptions, and inflationary pressures, with strategies in place to mitigate these risks through contractual pass-through provisions and commodity forward contracts.

Looking ahead, Crown Holdings expects capital expenditures of approximately $450 million in 2025 to support ongoing growth and operational efficiency. The company remains committed to leveraging its strong cash flow generation and maintaining a healthy balance sheet while navigating the complexities of the global market, including potential impacts from geopolitical events and economic fluctuations.