Crown: Q1 Earnings Snapshot
YARDLEY, Pa. (AP) _ Crown Holdings Inc. (CCK) on Monday reported first-quarter net income of $216 million.
On a per-share basis, the Yardley, Pennsylvania-based company said it had net income of $1.74. Earnings, adjusted for one-time gains and costs, were $2.01 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.82 per share.
The packaging company posted revenue of $3.16 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $3.01 billion.
For the current quarter ending in July, Crown expects its per-share earnings to range from $2 to $2.10.
The company expects full-year earnings in the range of $8 to $8.20 per share.
Crown shares have increased slightly more than 5% since the beginning of the year. In the final minutes of trading on Monday, shares hit $116.61, an increase of slightly more than 6% in the last 12 months.