TAMPA, Fla. (AP) — TAMPA, Fla. (AP) — Crown Holdings Inc. (CCK) on Monday reported second-quarter earnings of $174 million.
On a per-share basis, the Tampa, Florida-based company said it had net income of $1.45. Earnings, adjusted for one-time gains and costs, came to $1.81 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.59 per share.
The packaging company posted revenue of $3.04 billion in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $3.06 billion.
For the current quarter ending in September, Crown expects its per-share earnings to range from $1.75 to $1.85.
The company expects full-year earnings to be $6 to $6.25 per share.
Crown shares have dropped 16% since the beginning of the year. In the final minutes of trading on Monday, shares hit $77.39, a drop of 15% in the last 12 months.
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