Crown Holdings Inc. Q2 Profit Increases, beats estimates

Crown Holdings Inc. (CCK) announced earnings for its second quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $295 million, or $2.43 per share. This compares with $128 million, or $0.95 per share, in last year's second quarter.

Excluding items, Crown Holdings Inc. reported adjusted earnings of $255 million or $2.10 per share for the period.

Analysts on average had expected the company to earn $2.02 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 22.7% to $3.51 billion from $2.86 billion last year.

Crown Holdings Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $295 Mln. vs. $128 Mln. last year.
-EPS (Q2): $2.43 vs. $0.95 last year.
-Analyst Estimate: $2.02
-Revenue (Q2): $3.51 Bln vs. $2.86 Bln last year.

Next quarter EPS guidance: $1.75 to $1.85
Full year EPS guidance: $7.65 to $7.85

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