TAMPA, Fla. (AP) — TAMPA, Fla. (AP) — Crown Holdings Inc. (CCK) on Monday reported first-quarter earnings of $193 million.
On a per-share basis, the Tampa, Florida-based company said it had net income of $1.65. Earnings, adjusted for one-time gains and costs, came to $1.67 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.22 per share.
The packaging company posted revenue of $2.89 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $2.86 billion.
For the current quarter ending in June, Crown expects its per-share earnings to range from $1.80 to $1.90.
The company expects full-year earnings in the range of $6.70 to $7.10 per share.
Crown shares have risen roughly 9% since the beginning of the year. In the final minutes of trading on Monday, shares hit $89.87, a rise of 12% 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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