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Crown: 2Q Earnings Snapshot

July 17, 2019

YARDLEY, Pa. (AP) _ Crown Holdings Inc. (CCK) on Wednesday reported second-quarter net income of $137 million.

On a per-share basis, the Yardley, Pennsylvania-based company said it had profit of $1.02. Earnings, adjusted for one-time gains and costs, came to $1.46 per share.

The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.49 per share.

The packaging company posted revenue of $3.04 billion in the period, topping Street forecasts. Five analysts surveyed by Zacks expected $3.03 billion.

For the current quarter ending in October, Crown expects its per-share earnings to range from $1.50 to $1.60.

The company expects full-year earnings in the range of $5.05 to $5.20 per share.

Crown shares have risen 43% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $59.38, an increase of 31% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CCK at https://www.zacks.com/ap/CCK

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