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Crown meets 4Q profit forecasts

Crown Holdings meets 4Q profit expectations, misses revenue forecasts

PHILADELPHIA (AP) _ Crown Holdings Inc. (CCK) on Thursday reported fourth-quarter profit of $65 million.

The Philadelphia-based company said it had profit of 47 cents per share. Earnings, adjusted for non-recurring costs, came to 71 cents per share.

The results met Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was also for earnings of 71 cents per share.

The packaging company posted revenue of $1.92 billion in the period, missing Street forecasts. Six analysts surveyed by Zacks expected $1.98 billion.

For the year, the company reported profit of $496 million, or $3.56 per share. Revenue was reported as $8.28 billion.

For the current quarter ending in April, Crown expects its per-share earnings to range from 65 cents to 75 cents.

The company expects full-year earnings in the range of $3.80 to $4 per share.

Crown shares have climbed roughly 3 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $54.07, a rise of 19 percent in the last 12 months.

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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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Keywords: Crown Holdings, Earnings Report

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