Crown Holdings Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - Crown Holdings Inc. (CCK) reported earnings for first quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $102 million, or $0.85 per share. This compares with $216 million, or $1.74 per share, in last year's first quarter.

Excluding items, Crown Holdings Inc. reported adjusted earnings of $144 million or $1.20 per share for the period.

Analysts on average had expected the company to earn $1.05 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 6.0% to $2.97 billion from $3.16 billion last year.

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

-Earnings (Q1): $102 Mln. vs. $216 Mln. last year. -EPS (Q1): $0.85 vs. $1.74 last year. -Analyst Estimates: $1.05 -Revenue (Q1): $2.97 Bln vs. $3.16 Bln last year.

-Guidance: Next quarter EPS guidance: $1.60 to $1.70 Full year EPS guidance: $6.20 to $6.40