Key facts
- Crown Holdings reported a 5% increase in North American aluminum beverage can shipments in Q2.
- World Cup festivities contributed approximately two percentage points to this growth.
- The company raised its full-year North American beverage can shipment growth forecast to 3-4%.
- Global deliveries rose 5% in Q2, with strong growth in Asia and Europe, offset by a decline in Latin America.
- Crown's Q2 profit increased 35% to $245 million on revenues up over 16% to $3.7 billion.
Packaging manufacturer Crown Holdings saw a 5% increase in North American shipments of aluminum beverage cans in the second quarter compared to the previous year. The company largely attributed this growth to stronger-than-expected demand related to World Cup festivities, estimating that approximately two percentage points of the overall growth stemmed from the global soccer tournament.
Crown Holdings chief executive Timothy Donahue noted that consumption during the World Cup exceeded analyst expectations. The rise in sales volumes suggests a potential increase in the supply of used beverage cans (UBC) and scrap, which are essential feedstocks for aluminum rolling mills. This increased availability could put further downward pressure on UBC buying spreads, which are already near historic lows.
The company has revised its full-year guidance for North American beverage can shipments upward, now projecting 3-4% growth compared to the 2-3% increase previously forecast. However, Crown cautioned that shipments in the latter half of 2026 are expected to slow compared to the second quarter due to the absence of demand boosts from the World Cup and July 4th holiday.
Globally, Crown's deliveries also increased by 5% in the second quarter. The company experienced "double-digit" shipment growth in Asia and 7% growth in Europe. These gains helped to offset a 10% decline in Latin America, particularly in Brazil. Deliveries in the Middle East saw an increase, with shipments from Jordan and Saudi Arabia outweighing a 20% drop in the UAE, which was attributed to the US-Iran war.
Crown reported a 35% increase in second-quarter profit to $245 million, with revenues rising by over 16% to nearly $3.7 billion year-over-year.