TAMPA, Fla. (AP) — TAMPA, Fla. (AP) — Crown Holdings Inc. (CCK) on Monday reported fourth-quarter net income of $32 million.
The Tampa, Florida-based company said it had net income of 27 cents per share. Earnings, adjusted for one-time gains and costs, were $1.24 per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.42 per share.
The packaging company posted revenue of $2.86 billion in the period, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $2.93 billion.
For the year, the company reported profit of $450 million, or $3.76 per share. Revenue was reported as $12.01 billion.
For the current quarter ending in March, Crown expects its per-share earnings to range from 90 cents to $1.
The company expects full-year earnings in the range of $5.80 to $6.20 per share.
Crown shares have declined 4% since the beginning of the year. In the final minutes of trading on Monday, shares hit $88.33, a climb of nearly 1% 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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