Crown Holdings Inc. Q2 Profit Increases, beats estimates

(RTTNews) - Crown Holdings Inc. (CCK) announced earnings for its second quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $295 million, or $2.43 per share. This compares with $128 million, or $0.95 per share, in last year's second quarter.

Excluding items, Crown Holdings Inc. reported adjusted earnings of $255 million or $2.10 per share for the period.

Analysts on average had expected the company to earn $2.02 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 22.7% to $3.51 billion from $2.86 billion last year.

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

-Earnings (Q2): $295 Mln. vs. $128 Mln. last year. -EPS (Q2): $2.43 vs. $0.95 last year. -Analyst Estimate: $2.02 -Revenue (Q2): $3.51 Bln vs. $2.86 Bln last year.

-Guidance: Next quarter EPS guidance: $1.75 to $1.85 Full year EPS guidance: $7.65 to $7.85