Crown (CCK) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
Crown Holdings (CCK) reported $3.11 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 11.4%. EPS of $1.68 for the same period compares to $2.10 a year ago.
The reported revenue represents a surprise of -10.52% over the Zacks Consensus Estimate of $3.47 billion. With the consensus EPS estimate being $1.65, the EPS surprise was +1.82%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Crown performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
External Sales- Americas Beverage: $1.29 billion versus $1.40 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -6.2% change.
External Sales- European Beverage: $532 million versus the three-analyst average estimate of $605.41 million. The reported number represents a year-over-year change of -11.2%.
External Sales- Transit Packaging: $597 million compared to the $660.99 million average estimate based on three analysts. The reported number represents a change of -13.6% year over year.
Net Sales- Other segments: $356 million versus the three-analyst average estimate of $369.30 million. The reported number represents a year-over-year change of -13.2%.
External Sales- Asia Pacific: $332 million compared to the $373.96 million average estimate based on three analysts. The reported number represents a change of -23.2% year over year.
Segment Income- Americas Beverage: $211 million versus the three-analyst average estimate of $222.96 million.
Segment Income- European Beverage: $74 million versus $58.84 million estimated by three analysts on average.
Segment Income- Transit Packaging: $89 million compared to the $81.88 million average estimate based on three analysts.
Segment Income- Other segments: $36 million compared to the $51.30 million average estimate based on three analysts.
Segment Income- Corporate and other: -$34 million versus the three-analyst average estimate of -$37.93 million.
Segment Income- Asia Pacific: $38 million versus $42.21 million estimated by three analysts on average.
View all Key Company Metrics for Crown here>>>
Shares of Crown have returned +5.9% over the past month versus the Zacks S&P 500 composite's +4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Crown Holdings, Inc. (CCK) : Free Stock Analysis Report
