TAMPA, Fla. (AP) — TAMPA, Fla. (AP) — Crown Holdings Inc. (CCK) on Wednesday reported fourth-quarter profit of $358 million.
The Tampa, Florida-based company said it had profit of $3.02 per share. Earnings, adjusted for one-time gains and costs, came to $1.59 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.52 per share.
The packaging company posted revenue of $2.9 billion in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $2.92 billion.
For the year, the company reported profit of $424 million, or $3.55 per share. Revenue was reported as $11.8 billion.
Crown expects full-year earnings in the range of $6.60 to $7 per share.
Crown shares have increased almost 3% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $85.10, a drop of nearly 4% 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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