U.S. Markets open in 7 mins

Crown: 3Q Earnings Snapshot

YARDLEY, Pa. (AP) _ Crown Holdings Inc. (CCK) on Wednesday reported third-quarter net income of $183 million.

On a per-share basis, the Yardley, Pennsylvania-based company said it had profit of $1.36. Earnings, adjusted for one-time gains and costs, came to $1.56 per share.

The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.57 per share.

The packaging company posted revenue of $3.08 billion in the period, which also missed Street forecasts. Five analysts surveyed by Zacks expected $3.19 billion.

For the current quarter ending in December, Crown expects its per-share earnings to range from 93 cents to 98 cents.

The company expects full-year earnings in the range of $5 to $5.05 per share.

Crown shares have risen 53% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $63.50, a rise of 33% 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