U.S. Markets close in 54 mins

Crown: 1Q Earnings Snapshot

YARDLEY, Pa. (AP) _ Crown Holdings Inc. (CCK) on Wednesday reported first-quarter net income of $103 million.

On a per-share basis, the Yardley, Pennsylvania-based company said it had net income of 77 cents. Earnings, adjusted for one-time gains and costs, were $1.05 per share.

The results matched Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was also for earnings of $1.05 per share.

The packaging company posted revenue of $2.76 billion in the period, exceeding Street forecasts. Four analysts surveyed by Zacks expected $2.75 billion.

For the current quarter ending in July, Crown expects its per-share earnings to range from $1.43 to $1.53.

The company expects full-year earnings in the range of $5.20 to $5.40 per share.

Crown shares have increased 36 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $56.54, an increase of nearly 8 percent 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