Leading position as a global can manufacturer, with ongoing expansion in high-growth regions; Favorable industry dynamics including fairly tight supply/demand and good pricing power; and High return on capital Financial metrics currently somewhat weak for the ratings; Relatively stable operating margins and free cash generation annually Significant seasonal swings in earnings and cash flow The outlook is stable. We expect Crown to continue to benefit from relatively stable food and beverage end markets, a consolidated industry structure with production and pricing discipline, and good cost pass-through. We also expect continued growth in emerging markets because of consumers' increasing disposable income, a shift toward aluminum cans from other packaging materials, and concerns about food safety. As a result of these factors,
