The 10-second takeaway
For the quarter ended March 31 (Q1), Crown Holdings missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased slightly. Non-GAAP earnings per share grew. GAAP earnings per share dropped significantly.
Gross margins were steady, operating margins grew, net margins dropped.
Crown Holdings reported revenue of $1.97 billion. The eight analysts polled by S&P Capital IQ hoped for a top line of $2.01 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.50. The 13 earnings estimates compiled by S&P Capital IQ averaged $0.48 per share. Non-GAAP EPS of $0.50 for Q1 were 8.7% higher than the prior-year quarter's $0.46 per share. GAAP EPS of $0.28 for Q1 were 39% lower than the prior-year quarter's $0.46 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 16.9%, much about the same as the prior-year quarter. Operating margin was 9.9%, 60 basis points better than the prior-year quarter. Net margin was 2.1%, 140 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $2.30 billion. On the bottom line, the average EPS estimate is $0.95.
Next year's average estimate for revenue is $8.91 billion. The average EPS estimate is $3.28.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 137 members out of 144 rating the stock outperform, and seven members rating it underperform. Among 50 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 47 give Crown Holdings a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Crown Holdings is outperform, with an average price target of $43.60.
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