Crown Holdings Shines in Q3 2024: A Strong Performance Amidst Challenges
A Solid Quarter: Net Sales Remain Steady
Good morning, and welcome to Crown Holdings’ Third Quarter 2024 Conference Call! Today, we’re excited to share our latest results with you. Joining me is Tim Donahue, our President and CEO. If you haven’t already, please visit our website at crowncork.com to access our earnings release.
Forward-Looking Statements: A Cautionary Note
Before we dive in, a quick reminder: we’ll be making several forward-looking statements during this call. Please keep in mind that actual results may differ materially from these statements. You can find more information on potential factors that could impact our results in our press release and SEC filings, including our Form 10-K for 2023 and subsequent filings.
Net Sales: Holding Steady at $3.1 Billion
Our net sales for the quarter remained level with last year, reaching $3.1 billion. This stability is thanks to significant increases in global beverage can volumes and North American food can volumes. However, we did experience lower volumes in most other businesses.
Segment Income Soars to $472 Million
The real highlight of our quarter is our segment income, which jumped to $472 million compared to $430 million last year. This impressive growth is attributed to volume gains in both Americas and European Beverage, as well as the benefits of our cost reduction efforts.
A Bright Future Ahead
As we move forward, we’re confident that our strategic initiatives will continue to drive growth and profitability. Stay tuned for more insights from Tim Donahue, our President and CEO, and myself, Kevin Clothier, SVP and CFO, as we discuss our Q3 2024 results in more detail.
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