Crown: Q2 Earnings Snapshot

Associated Press Finance
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TAMPA, Fla. (AP) — TAMPA, Fla. (AP) — Crown Holdings Inc. (CCK) on Monday reported second-quarter profit of $157 million.

On a per-share basis, the Tampa, Florida-based company said it had profit of $1.31. Earnings, adjusted for one-time gains and costs, were $1.68 per share.

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

The packaging company posted revenue of $3.11 billion in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $3.47 billion.

For the current quarter ending in September, Crown expects its per-share earnings to range from $1.70 to $1.80.

The company expects full-year earnings in the range of $6.10 to $6.30 per share.

Crown shares have climbed 10% since the beginning of the year. In the final minutes of trading on Monday, shares hit $90.52, a fall of roughly 5% in the last 12 months.

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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

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