Stay Informed - Subscribe To Our Newsletters

Crown: Q1 Earnings Snapshot

YARDLEY, Pa. (AP) _ Crown Holdings Inc. (CCK) on Monday reported first-quarter profit of $211 million.

The Yardley, Pennsylvania-based company said it had profit of $1.57 per share. Earnings, adjusted for one-time gains and costs, came to $1.83 per share.

The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.39 per share.

The packaging company posted revenue of $3.08 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $3 billion.

For the current quarter ending in July, Crown expects its per-share earnings to range from $1.70 to $1.80.

The company expects full-year earnings in the range of $6.60 to $6.80 per share.

Crown shares have climbed nearly 9% since the beginning of the year. In the final minutes of trading on Monday, shares hit $108.77, a rise of 73% 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

On-Air & Up next

See the Full Program Guide