Crown Holdings Inc – Top Container Stocks
One of the world’s largest manufacturers of metal cans is Crown Holdings. It makes all sorts of cans for food and beverage packaging. Over the past 20 years, the company’s stock has risen a staggering 7700%. If you look at the financials for the last 10 years, the company has increased its revenue, net income, and gross margins. For a company that is already the dominant player in its sector to grow in this manner demonstrates the strong fundamentals in its business model. So, if you are shortlisting the best packaging stocks for this year, then businesses like Crown Holdings deserve a place on that list. Crown Holdings is not exactly a container stock. The containers that it makes are the ones used to package household items. The company does not make shipping containers which is what one might think when one hears the words “container stocks”.
Crown Holdings Announces Q32021 Earnings Numbers
On 25th October 2021, Crown Holdings released its third-quarter 2021 earnings results. Revenue was up from $2.48 billion in Q32020 to $2.92 billion in Q32021. However, the net income was down from $245 million in Q32020 to $131 million because there was a loss from disposal and discontinued operations. On the ESG front, there was some good news in the quarter. In September 2021, ESG rating provider Sustainalytics ranked Crown Holdings number one for mitigating ESG risk in the glass and metal packaging sector. The management commented that inflation was pushing up input costs for the company. However, the company was successfully transferring that cost to its clients. It was also revealed that new production lines are on track to come up in 2022 and 2023. Crown Holdings continues to be one of the top container stocks.
Best Packaging Stocks For This Year
Crown Holdings continues to benefit from a strong beverage can demand despite some headwinds in terms of rising commodity prices and supply chain issues. Also, some 75% of new beverages that are being introduced globally are packaged in aluminum cans. This number is double the number from five years ago.