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Crown: 3Q Earnings Snapshot

PHILADELPHIA (AP) _ Crown Holdings Inc. (CCK) on Wednesday reported third-quarter net income of $164 million.

On a per-share basis, the Philadelphia-based company said it had net income of $1.23. Earnings, adjusted for amortization costs and non-recurring costs, came to $1.71 per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.65 per share.

The packaging company posted revenue of $3.17 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $3.16 billion.

For the current quarter ending in December, Crown expects its per-share earnings to range from 97 cents to $1.02.

Crown shares have decreased 15 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $47.61, a drop of 21 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