Like Ball Corporation, but exclusively focused on making metal cans for beverages, food, and aerosols.

• Metal Beverage Cans: Crown produces aluminum and steel cans primarily for soft drinks, beer, energy drinks, and other beverages globally.
• Metal Food Cans: The company manufactures steel and aluminum cans used for packaging a wide variety of food products, including vegetables, fruits, pet food, and prepared meals.
• Aerosol Cans: Crown supplies aerosol containers for diverse applications such as personal care products, household cleaners, industrial products, and paints.
• Metal Closures: They produce a range of metal closures, including caps and lids, for glass and plastic containers used in food, beverage, and personal care industries.
• Specialty Packaging: Crown designs and manufactures specialized metal containers and decorative tins for promotional items, gift sets, and other unique packaging needs.

Crown Holdings Inc. (symbol: CCK) primarily sells its products to other companies (B2B).

Crown is a global leader in the design, manufacture, and sale of rigid packaging products, including beverage cans, food cans, and aerosol cans, as well as various closures. Its customers are typically major global, regional, and local consumer packaged goods (CPG) companies that require packaging for their products.

While Crown Holdings Inc. does not explicitly name individual major customers in its public filings, indicating a diversified customer base where no single customer typically accounts for a significant portion (e.g., 10% or more) of its net sales, its major customers broadly fall into the following categories based on the products Crown manufactures:

• Major Beverage Companies: Producers of soft drinks, beer, energy drinks, juices, and other beverages.

  Examples of prominent public companies that are likely customers of a major packaging supplier like Crown due to their high volume packaging needs include:

  • The Coca-Cola Company (KO)
  • PepsiCo, Inc. (PEP)
  • Anheuser-Busch InBev SA/NV (BUD)

• Major Food Companies: Manufacturers of canned foods such as vegetables, fruits, soups, sauces, processed meats, and pet food.

  Examples of prominent public companies that are likely customers of a major packaging supplier like Crown include:

  • Nestlé S.A. (NSRGY)
  • Conagra Brands, Inc. (CAG)
  • The Kraft Heinz Company (KHC)

• Major Aerosol Product Companies: Companies that produce personal care, household, industrial, and pharmaceutical products packaged in aerosol cans.

  Examples of prominent public companies that are likely customers of a major packaging supplier like Crown include:

  • Unilever PLC (UL)
  • Procter & Gamble Co. (PG)

It is important to note that the specific companies listed above are examples of the types of major global CPG firms that utilize Crown's packaging products, rather than a definitive list of explicitly named major customers disclosed by Crown Holdings Inc. itself.

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Timothy J. Donahue, Chairman of the Board, President and Chief Executive Officer

Mr. Donahue was appointed Chief Executive Officer of Crown Holdings in 2016 and has served as a member of the Board since 2015. Prior to his CEO role, he held several other executive positions within the Company, including Chief Operating Officer and Chief Financial Officer. He was Executive Vice President and Chief Financial Officer since 2008, Senior Vice President – Finance since 2000, and the Company's Controller from 1991 to 2000. Mr. Donahue joined Crown Holdings in 1990 as Manager of Domestic Accounting. Before joining Crown, he worked at Price Waterhouse, a prominent accounting firm. During his leadership roles at Crown, he oversaw significant strategic transactions, including the $3.9 billion acquisition of Signode and the $2.7 billion sale of a majority stake in the Company's European Tinplate business, which is now known as Eviosys.

Kevin C. Clothier, Senior Vice President and Chief Financial Officer

Mr. Clothier assumed the role of Senior Vice President and Chief Financial Officer on January 1, 2022. He has been with Crown Holdings since 1993. Before his appointment as CFO, he served as Vice President and Corporate Controller, and from 2015, as Vice President and Treasurer.

Gerard H. Gifford, Executive Vice President and Chief Administrative Officer

Mr. Gifford has been with Crown Holdings since 1983. He transitioned to Executive Vice President and Chief Administrative Officer until his planned retirement in early 2026, previously serving as Executive Vice President and Chief Operating Officer.

Djalma Novaes, Jr., Executive Vice President and Chief Operating Officer

Mr. Novaes, Jr. was promoted to Executive Vice President and Chief Operating Officer, effective July 1, 2025. He joined Crown in 1998 and has led the Americas Division since 2015. His previous roles include President of Crown's Brazil operations and Vice President of Operations for the North American Beverage can business.

Sidonie Lécluse, Senior Vice President – Chief Human Resources Officer

Sidonie Lécluse holds the position of Senior Vice President – Chief Human Resources Officer at Crown Holdings.

The key risks to Crown Holdings Inc. (CCK) business operations include raw material price volatility and supply chain disruptions, intense competition within a standardized product market, and a significant debt load.

1. Raw Material Price Volatility and Supply Chain Disruptions: Crown Holdings is significantly vulnerable to fluctuations in the prices of raw materials such as aluminum and steel, which constitute a substantial portion of its product costs. The inherent volatility of these commodity prices can considerably impact the company's margins and overall profitability. Furthermore, the company's reliance on these materials and the smooth functioning of its manufacturing facilities make it susceptible to supply chain disruptions, which can lead to production delays, increased costs, and potential damage to customer relationships if demand is not met.
2. Intense Competition and Market Position: Operating in a highly competitive market where product differentiation is often limited, Crown Holdings faces significant price competition, particularly for standardized products like beverage and food cans. The company's position as the "number two" player in the beverage can market, behind the dominant market leader Ball Corporation, can restrict its pricing power and long-term margin potential.
3. Significant Debt Load: Crown Holdings carries a substantial debt load of nearly $6.4 billion, which is identified as a key financial risk. This level of indebtedness could exacerbate other risks and impact the company's financial condition.

Crown Holdings Inc. (CCK) operates in several key packaging markets. The addressable markets for their main products and services are as follows:

• Global Metal Packaging Market: The global metal packaging market size was estimated at USD 148.13 billion in 2024 and is projected to reach USD 184.21 billion by 2030. Another estimate valued the global metal packaging market at USD 153.3 billion in 2024, with a projection to reach USD 238.8 billion by 2035.
• Global Beverage Cans Market: This market was estimated at USD 39.20 billion in 2023 and is projected to reach USD 59.61 billion by 2030. North America represented the largest revenue share, exceeding 36.0% in 2023. The North America beverage cans market generated USD 14,494.5 million in revenue in 2023 and is expected to reach USD 19,703.3 million by 2030. Specifically, the North America aluminum cans market was valued at USD 16.9 billion in 2024 and is estimated to reach USD 22.4 billion by 2033.
• Europe Food Cans Market: The market size for food cans in Europe was estimated at USD 9.96 billion in 2024 and is projected to grow to USD 15.48 billion by 2032. Another report valued the Europe food cans market at USD 8.73 billion in 2024, expecting it to reach USD 10.82 billion by 2033.
• Global Aerosol Cans Market: The global aerosol cans market size was valued at USD 11.29 billion in 2024 and is expected to reach USD 19.52 billion by 2032. Another source reported the market size as USD 11.08 billion in 2024, with a forecast to reach USD 17.32 billion by 2032. Europe dominated the aerosol can market, holding a 37.64% share in 2023. The Europe aerosol cans market size was estimated at USD 4.25 billion in 2024 and is predicted to reach approximately USD 7.51 billion by 2034.
• Global Transit Packaging Market: This market was valued at USD 242.16 billion in 2024 and is projected to reach USD 414.69 billion by 2032. Another estimate indicates the market is projected to grow from USD 264.71 billion in 2025 to USD 486.25 billion by 2034. North America held the largest share of the transit packaging market, at 32.47% in 2024. The U.S. transit packaging market alone is projected to reach an estimated value of USD 108.63 billion by 2032.

Crown (CCK) is expected to drive future revenue growth over the next two to three years through several key strategies and market trends:

1. Robust Global Demand for Beverage Cans: Crown anticipates continued strong demand for beverage cans, particularly in its European and Americas segments. For instance, European beverage volume growth was 12% in Q3 2025, leading to a 27% increase in European segment income. Strong volumes in Brazil and North America also contributed significantly to revenue in the Americas segment.
2. Accelerating Shift to Sustainable Aluminum Packaging: The company is benefiting from a global consumer and regulatory shift towards more eco-friendly packaging solutions. This trend includes an accelerated move from other materials to aluminum cans in Europe, which is seen as a driver for above-market growth. Aluminum cans are preferred for their recyclability and environmental benefits, appealing to conscious consumers, especially Generation Z.
3. Strategic Capacity Expansion in High-Growth Regions: Crown is actively investing in expanding its manufacturing capacity in markets experiencing surging demand. A notable example is the expansion of its Ponta Grossa plant in Brazil, which will increase annual capacity from 2.4 billion to 3.6 billion cans by Q3 2026 to meet the growing needs of the South American beverage sector. Modernization efforts in facilities like those in Greece and Brazil are also enhancing the company's competitive edge.
4. Effective Pricing Strategies and Operational Efficiencies: The company's ability to implement strategic pricing actions and pass through higher material costs is crucial for revenue growth. These efforts, combined with ongoing operational efficiency initiatives and outstanding manufacturing performance, help to expand margins and support overall revenue even amidst fluctuating commodity prices. Crown's focus on cost management and disciplined capital allocation is expected to continue supporting financial performance.

Share Repurchases

• In July 2024, Crown authorized a new $2.0 billion share repurchase program extending through the end of 2027, replacing a previous authorization from December 2021.
• The company returned over $400 million to shareholders in the form of share repurchases and dividends during the first nine months of 2025.
• In 2024, Crown spent $217 million on share repurchases, including $117 million in the first nine months.

Outbound Investments

• In December 2024, Crown received approximately $300 million in cash proceeds from the sale of its remaining approximately 20% equity stake in Eviosys, a European tinplate packaging producer.

Capital Expenditures

• Crown's capital expenditures were over $1.6 billion combined in 2022 and 2023, followed by $403 million in 2024.
• Expected capital expenditures are approximately $400 million to $450 million in 2025 and projected to be between $450 million and $500 million in 2026.
• The primary focus of capital expenditures includes the substantial completion of a manufacturing platform expansion program in early 2024 to meet demand and ongoing investments in capacity and efficiency, particularly in European Beverage and North American food can businesses.