Crown Holdings Inc. Q1 Profit Decreases, but beats estimates

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

The company's earnings came in at $67 million, or $0.56 per share. This compares with $102 million, or $0.85 per share, in last year's first quarter.

Excluding items, Crown Holdings Inc. reported adjusted earnings of $122 million or $1.02 per share for the period.

Analysts on average had expected the company to earn $0.96 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 6.4% to $2.78 billion from $2.97 billion last year.

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

-Earnings (Q1): $67 Mln. vs. $102 Mln. last year. -EPS (Q1): $0.56 vs. $0.85 last year. -Revenue (Q1): $2.78 Bln vs. $2.97 Bln last year.

-Guidance: Next quarter EPS guidance: $1.55 to $1.65 Full year EPS guidance: $5.80 to $6.20