Crown Holdings Inc. Q2 Profit Decreases, but beats estimates

(RTTNews) - Crown Holdings Inc. (CCK) revealed earnings for second quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $157 million, or $1.31 per share. This compares with $295 million, or $2.43 per share, in last year's second quarter.

Excluding items, Crown Holdings Inc. reported adjusted earnings of $201 million or $1.68 per share for the period.

Analysts on average had expected the company to earn $1.64 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 11.4% to $3.11 billion from $3.51 billion last year.

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

-Earnings (Q2): $157 Mln. vs. $295 Mln. last year. -EPS (Q2): $1.31 vs. $2.43 last year. -Analyst Estimates: $1.64 -Revenue (Q2): $3.11 Bln vs. $3.51 Bln last year.

-Guidance: Next quarter EPS guidance: $1.70 to $1.80 Full year EPS guidance: $6.10 to $6.30