The 10-second takeaway
For the quarter ended June 30 (Q2), Crown Holdings missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded slightly. Non-GAAP earnings per share increased. GAAP earnings per share grew.
Gross margins grew, operating margins increased, net margins contracted.
Crown Holdings booked revenue of $2.22 billion. The 10 analysts polled by S&P Capital IQ expected a top line of $2.28 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 $0.96. The 13 earnings estimates compiled by S&P Capital IQ predicted $0.93 per share. Non-GAAP EPS of $0.96 for Q2 were 14% higher than the prior-year quarter's $0.84 per share. GAAP EPS of $0.93 for Q2 were 4.5% higher than the prior-year quarter's $0.89 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 18.2%, 60 basis points better than the prior-year quarter. Operating margin was 12.3%, 90 basis points better than the prior-year quarter. Net margin was 6.0%, 10 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $2.43 billion. On the bottom line, the average EPS estimate is $1.19.
Next year's average estimate for revenue is $8.84 billion. The average EPS estimate is $3.27.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 140 members out of 147 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 $46.09.
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