U.S. Markets closed

Crown: 1Q Earnings Snapshot

PHILADELPHIA (AP) _ Crown Holdings Inc. (CCK) on Wednesday reported first-quarter earnings of $90 million.

The Philadelphia-based company said it had net income of 67 cents per share. Earnings, adjusted for one-time gains and costs, were 94 cents per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 80 cents per share.

The packaging company posted revenue of $2.2 billion in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $2.07 billion.

For the current quarter ending in July, Crown expects its per-share earnings to range from $1.55 to $1.65.

The company expects full-year earnings in the range of $5.35 to $5.55 per share.

Crown shares have decreased roughly 7 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $52.35, a decline of nearly 4 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