Crown Holdings (CCK) delivered Q2 results ahead of expectations, supported by strong demand across the Americas, Europe and Asia-Pacific, while raising its fiscal 2026 guidance despite additional inflationary pressure in the Middle East, RBC Capital said in a Thursday note.

The brokerage said the earnings beat was driven by 5% volume growth across North America, Europe, Asia-Pacific and non-reportable businesses. It expects solid second-half momentum, supported by beverage can demand, capacity expansion and continued strength in Asia-Pacific.

RBC raised its fiscal 2026 earnings before interest, taxes, depreciation and amortization estimate to $2.13 billion from $2.09 billion and increased its 2027 estimate to $2.20 billion from $2.19 billion. It also raised its fiscal 2026 earnings per share estimate to $8.40 from $8.05.

Management raised its fiscal 2026 adjusted EPS guidance to a range of $8.30 to $8.50 from $8.00 to $8.20 and expects about $900 million in free cash flow this year, with more than $700 million earmarked for share repurchases. The company does not currently anticipate any acquisitions, the report added.

RBC maintained its outperform rating on the stock and raised its price target to $135 from $131.

Crown shares were up up 2.1% in Friday trading.

Price: 115.86, Change: +1.37, Percent Change: +1.20