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 totaled $174 million, or $1.45 per share. This compares with $157 million, or $1.31 per share, in last year's second quarter.

Excluding items, Crown Holdings Inc. reported adjusted earnings of $217 million or $1.81 per share for the period.

Analysts on average had expected the company to earn $1.58 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.3% to $3.04 billion from $3.11 billion last year.

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

-Earnings (Q2): $174 Mln. vs. $157 Mln. last year. -EPS (Q2): $1.45 vs. $1.31 last year. -Revenue (Q2): $3.04 Bln vs. $3.11 Bln last year.

-Guidance: Next quarter EPS guidance: $1.75 to $1.85 Full year EPS guidance: $6.00 to $6.25