Crown Holdings, Inc. (NYSE:CCK) Q3 2024 Earnings Conference Call October 18, 2024 9:00 AM ET
Company Participants
Kevin Clothier – SVP and CFO
Timothy Donahue – President and CEO
Conference Call Participants
Ghansham Panjabi – Baird
Chris Parkinson – Wolfe Company Research
George Staphos – Bank of America
Mike Leithead – Barclays
Phil Ng – Jefferies
Jeff Zekauskas – JPMorgan
Anthony Pettinari – Citigroup
Arun Viswanathan – RBC Capital Markets
Joshua Spector – UBS
Stefan Diaz – Morgan Stanley
Edlain Rodriguez – Mizuho
Gabe Hajde – Wells Fargo Securities
Operator
Good morning, and welcome to Crown Holdings Third Quarter 2024 Conference Call. Your lines have been placed on a listen-only mode until the question-and-answer session. Please be advised that this conference is being recorded.
I would now like to turn the call over to Mr. Kevin Clothier, Senior Vice President and Chief Financial Officer. Sir, you may begin.
Kevin Clothier
Thank you, Al, and good morning. With me on today’s call is Tim Donahue, President and Chief Executive Officer. If you do not already have the earnings release, it is available on our website at crowncork.com.
On this call, as in the earnings release, we will be making a number of forward-looking statements. Actual results could vary materially from such statements. Additional information concerning factors that could cause actual results to vary is contained in the press release and in our SEC filings, including our Form 10-K for 2023 and subsequent filings.
Net sales in the quarter were level with prior year at $3.1 billion, reflecting increases in global beverage can volumes and North American food can volumes, offset by lower volumes in most other businesses. Segment income was $472 million in the quarter compared to $430 million in the prior year, reflecting volume gains in both Americas and European Beverage and the benefits of cost reduction
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