Crown's Third Quarter Lives Up to Our Expectations; Capital Projects Remain On Track
Crown's third quarter largely lived up to our expectations. Beverage can sales continued to be a bright spot, with volumes up 4% globally, while food faced low-single-digit volume declines on poor harvest conditions. Capital projects remain on time, which should facilitate above-average earnings growth for shareholders over the long run. Although Crown is a distant second to Ball in most developed markets, it maintains a strong presence in a variety of emerging markets, which enjoy stronger volu...Crown Holdings is engaged in the design, manufacture and sale of packaging products and equipment for consumer goods and industrial products. The company's packaging for consumer goods include steel and aluminum cans for food, beverage, household and other consumer products, glass bottles for beverage products, metal vacuum closures and steel crowns. The company's packaging for industrial products includes steel and plastic strap consumables and equipment, paper-based protective packaging, and plastic film consumables and equipment. The company's products include the SuperEnd? and 360 End? beverage can ends, its Easylift? aperture steel food can ends, and PeelSeam? and PeelFit? aluminum foil laminated ends.
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