Crown (CCK) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2023, Crown Holdings (CCK) reported revenue of $3.07 billion, down 5.8% over the same period last year. EPS came in at $1.73, compared to $1.46 in the year-ago quarter.
The reported revenue represents a surprise of -6.39% over the Zacks Consensus Estimate of $3.28 billion. With the consensus EPS estimate being $1.74, the EPS surprise was -0.57%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: $1.30 billion versus the three-analyst average estimate of $1.36 billion. The reported number represents a year-over-year change of -1.3%.
External Sales- European Beverage: $536 million compared to the $563.59 million average estimate based on three analysts. The reported number represents a change of -2.9% year over year.
Net Sales- Other segments: $377 million compared to the $401.07 million average estimate based on three analysts. The reported number represents a change of -8.3% year over year.
External Sales- Transit Packaging: $554 million versus the three-analyst average estimate of $630.09 million. The reported number represents a year-over-year change of -9%.
External Sales- Asia Pacific: $307 million versus $338.39 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -18.1% change.
Segment Income- Americas Beverage: $232 million versus the three-analyst average estimate of $229.07 million.
Segment Income- European Beverage: $80 million compared to the $71.38 million average estimate based on three analysts.
Segment Income- Corporate and other: -$41 million versus the three-analyst average estimate of -$36.60 million.
Segment Income- Transit Packaging: $89 million versus the three-analyst average estimate of $93.46 million.
Segment Income- Other segments: $37 million compared to the $47.82 million average estimate based on three analysts.
Segment Income- Asia Pacific: $33 million versus $38.62 million estimated by three analysts on average.
View all Key Company Metrics for Crown here>>>
Shares of Crown have returned -10.5% 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
