Crown: Q4 Earnings Snapshot

YARDLEY, Pa. (AP) — YARDLEY, Pa. (AP) — Crown Holdings Inc. (CCK) on Tuesday reported fourth-quarter net income of $89 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Yardley, Pennsylvania-based company said it had net income of 74 cents. Earnings, adjusted for one-time gains and costs, were $1.17 per share.

The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.07 per share.

The packaging company posted revenue of $3.01 billion in the period, which fell short of Street forecasts. Seven analysts surveyed by Zacks expected $3.1 billion.

For the year, the company reported net income of $727 million, or $5.99 per share, swinging to a profit in the period. Revenue was reported as $12.94 billion.

For the current quarter ending in March, Crown expects its per-share earnings to range from $1 to $1.10.

The company expects full-year earnings in the range of $6.20 to $6.40 per share.

Crown shares have risen 7% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $88.08, a decrease of 21% in the last 12 months.


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