Crown Holdings Inc. Q3 Profit Increases, but misses estimates

Crown Holdings Inc. (CCK) announced a profit for its third quarter that increased from last year but missed the Street estimates.

The company's bottom line totaled $127 million, or $1.06 per share. This compares with $102 million, or $0.79 per share, in last year's third quarter.

Excluding items, Crown Holdings Inc. reported adjusted earnings of $175 million or $1.46 per share for the period.

Analysts on average had expected the company to earn $1.77 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.6% to $3.26 billion from $2.92 billion last year.

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

-Earnings (Q3): $127 Mln. vs. $102 Mln. last year.
-EPS (Q3): $1.06 vs. $0.79 last year.
-Analyst Estimate: $1.77
-Revenue (Q3): $3.26 Bln vs. $2.92 Bln last year.

Next quarter EPS guidance: $1.00 to $1.10
Full year EPS guidance: $6.60 to $6.70

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