Crown Holdings Inc (NYSE:CCK) stock rose 4.39% (As on October 21, 11:22:41 AM UTC-4, Source: Google Finance) after the company reported third-quarter earnings that significantly exceeded analyst expectations and raised its full-year outlook. Driving the results was 12% volume growth in European Beverage, leading to a gain of 27% in European segment income. Global beverage can volumes were mixed during the quarter with softness in Asia and Latin America offsetting double-digit advances in Europe and the Middle East. Income from operations was $423 million in the third quarter compared to $444 million in the third quarter of 2024. Segment income in the third quarter of 2025 was $490 million compared to $472 million in the prior year third quarter driven by stronger results in European Beverage and the North American tinplate businesses. Net income attributable to Crown Holdings in the third quarter was $214 million compared to a loss of $175 million in the third quarter of 2024.

CCK in the third quarter of FY25 has reported the adjusted earnings per share of $2.24, beating the analysts’ estimates for the adjusted earnings per share of $1.99. The company had reported the adjusted revenue growth of 4.2 percent to $3.2 billion in the third quarter of FY25, beating the analysts’ estimates for revenue of $3.13 billion. The strong performance was primarily driven by 12% volume growth in European beverage can sales, which led to a 27% increase in European segment income. This also reflects increased shipments in European Beverage, the pass through of $104 million in higher material costs and favorable foreign currency translation of $34 million, partially offset by lower beverage can shipments in Latin America and Asia Pacific.

Additionally, the Company achieved its long-term adjusted net leverage target of 2.5x at September 30, while returning more than $400 million to shareholders in the form of share repurchases and dividends

The company now projects adjusted earnings per share of $7.70 to $7.80, well above the previous analyst consensus of $7.38. The company also expects to generate approximately $1.0 billion in adjusted free cash flow in 2025. For the fourth quarter, Crown Holdings expects adjusted earnings per share to range between $1.65 and $1.75, capital spending projected at approximately $400 million for the full year with the adjusted effective tax rate expected to be approximately 25%.