YARDLEY, Pa. (AP) _ Crown Holdings Inc. (CCK) on Wednesday reported fourth-quarter net income of $53 million, after reporting a loss in the same period a year earlier.
The Yardley, Pennsylvania-based company said it had net income of 40 cents per share. Earnings, adjusted for non-recurring costs, came to $1 per share.
The results met Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was also for earnings of $1 per share.
The packaging company posted revenue of $2.73 billion in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $2.78 billion.
For the year, the company reported profit of $439 million, or $3.28 per share. Revenue was reported as $11.15 billion.
Crown expects full-year earnings in the range of $1 to $1.10 per share.
Crown shares have climbed 25 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $51.83, a decline of 5 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