Crown Holdings Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Crown Holdings Inc. (CCK) revealed a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $216 million, or $1.74 per share. This compares with $211 million, or $1.57 per share, in last year's first quarter.

Excluding items, Crown Holdings Inc. reported adjusted earnings of $250 million or $2.01 per share for the period.

Analysts on average had expected the company to earn $1.82 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 23.4% to $3.16 billion from $2.56 billion last year.

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

-Earnings (Q1): $216 Mln. vs. $211 Mln. last year. -EPS (Q1): $1.74 vs. $1.57 last year. -Analyst Estimate: $1.82 -Revenue (Q1): $3.16 Bln vs. $2.56 Bln last year.

-Guidance: Next quarter EPS guidance: Adj: $2.00 to $2.10 Full year EPS guidance: Adj: $8.00 to $8.20