crown holdings inc (CCK) Key Developments
Crown Holdings Inc. Promotes David A. Beaver to Vice President and Corporate Controller
Mar 3 15
Crown Holdings Inc. announced that David A. Beaver was promoted to Vice President and Corporate Controller effective March 3, 2015. Mr. Beaver is responsible for the Company's internal and external financial reporting, internal controls, and budgeting and forecasting and reports to Thomas A. Kelly, Senior Vice President and Chief Financial Officer. Mr. Beaver previously served as Assistant Corporate Controller after joining the Company from PricewaterhouseCoopers in 2010.
Crown Holdings Inc. Presents at JPMorgan Aviation, Transportation & Industrials Conference, Mar-04-2015 11:00 AM
Feb 25 15
Crown Holdings Inc. Presents at JPMorgan Aviation, Transportation & Industrials Conference, Mar-04-2015 11:00 AM. Venue: J.P. Morgan, 383 Madison Avenue, New York, New York, United States. Speakers: Thomas A. Kelly, Chief Financial Officer and Senior Vice President.
Crown Holdings, Inc. to Build New Beverage Can Plant in Monterrey, Mexico
Feb 18 15
Crown Holdings Inc. announced that it will build a new beverage can plant in Monterrey, Mexico to meet growing demand. The new plant will be constructed on land currently owned by EMPAQUE which was included in the assets recently purchased by Crown, and will have the capability to produce two-piece aluminum cans in multiple sizes. The plant, which will be Crown's fourth beverage can facility in Mexico, will have initial annual capacity of 2.0 billion cans and will be designed to accommodate further expansion. Production of beverage cans is scheduled to commence in May, 2016, with sales to contract customers in Monterrey and the surrounding region.
Crown Holdings Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the First Quarter and Full Year of 2015
Feb 9 15
Crown Holdings Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net sales of $2,127 million compared to $2,071 million a year ago, an increase of 3% over 2013, primarily due to contributions from the Mivisa acquisition that closed in April 2015, partially offset by negative currency impact of $90 million. Income before income taxes was $35 million compared to $79 million a year ago. Net income was $36 million compared to $79 million a year ago. Net income attributable to the company was $13 million or $0.09 per basic and diluted share compared to $49 million or $0.36 per basic and diluted share a year ago. Free cash flow was $787 million compared to $915 million a year ago. Net sales in the fourth quarter grew compared to fourth quarter of 2013, reflecting the impact of the Mivisa acquisition and increased beverage can volumes, partially offset by $90 million of unfavorable currency translation.
For the year, the company reported net sales of $9,097 million compared to $8,656 million a year ago. Income before income taxes was $516 million compared to $576 million a year ago. Net income was $475 million compared to $428 million a year ago. Net income attributable to the company was $387 million or $2.79 per diluted share compared to $324 million or $2.30 per diluted share a year ago. Net cash provided by operating activities was $912 million compared to $885 million a year ago. Capital expenditures were $328 million compared to $275 million a year ago. Free cash flow was $612 million compared to $641 million a year ago.
The company currently estimates 2015 full year comparable diluted earnings per share of between $3.50 and $3.70. This guidance assumes a 2015 exchange rate of $1.13 per euro and 10 months of EMPAQUE results. The impact of the stronger dollar reduces its 2015 earnings per share by $0.25 compared to what earnings would have been if 2014 actual rates were used to translate 2015 results. In other words, the midpoint of its range of $3.60 would have been $3. Full year tax rate consistent with its 2014 rate of approximately 25%, although it may vary from quarter-to-quarter. Free cash flow of at least $550 million with approximately $350 million in capital spending.
The company currently projects 2015 first quarter comparable diluted earnings per share of between $0.47 and $0.53 per share versus $0.57 in the first quarter of 2014, reflecting currency movements and a difficult comparison in its European Beverage segment as the impact of higher aluminum premiums did not affect its 2014 results until later in the year.
Crown Holdings Inc. to Report Q4, 2014 Results on Feb 09, 2015
Jan 5 15
Crown Holdings Inc. announced that they will report Q4, 2014 results at 5:00 PM, Eastern Standard Time on Feb 09, 2015