Crown Holdings Q1 Profit Down

(RTTNews) - Crown Holdings Inc. (CCK) Wednesday reported first-quarter net income of $24 million or $0.17 per share, down from $41 million or $0.28 per share last year.

Adjusted earnings for the quarter were $0.57 per share compared to $0.50 per share last year. Analysts polled by Thomson Reuters estimated earnings of $0.51 per share for the quarter. Analysts' estimates typically exclude one-time items.

Net sales for the first quarter grew to $1.99 billion from $1.97 billion last year, primarily driven by increased global beverage can sales unit volumes. Analysts estimated revenues of $2.02 billion for the quarter.