TAMPA, Fla. (AP) — TAMPA, Fla. (AP) — Crown Holdings Inc. (CCK) on Monday reported first-quarter net income of $67 million.
On a per-share basis, the Tampa, Florida-based company said it had profit of 56 cents. Earnings, adjusted for one-time gains and costs, were $1.02 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 96 cents per share.
The packaging company posted revenue of $2.78 billion in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $2.93 billion.
For the current quarter ending in June, Crown expects its per-share earnings to range from $1.55 to $1.65.
The company expects full-year earnings in the range of $5.80 to $6.20 per share.
Crown shares have dropped 12% since the beginning of the year. In the final minutes of trading on Monday, shares hit $81.09, a decline of 4.5% 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