Metal packaging products manufacturer Crown Holdings (NYSE:CCK) will be reporting earnings this Wednesday after market hours. Here’s what to expect.
Crown Holdings beat analysts’ revenue expectations by 1.5% last quarter, reporting revenues of $3.20 billion, up 4.2% year on year. It was an exceptional quarter for the company, with EPS guidance for next quarter exceeding analysts’ expectations and full-year EPS guidance exceeding analysts’ expectations.
Is Crown Holdings a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Crown Holdings’s revenue to grow 4% year on year to $3.02 billion, improving from the 1.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.70 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Crown Holdings has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Crown Holdings’s peers in the industrials segment, some have already reported their Q4 results, giving us a hint as to what we can expect. International Paper delivered year-on-year revenue growth of 31.1%, beating analysts’ expectations by 1.9%, and Packaging Corporation of America reported revenues up 10.1%, falling short of estimates by 2.9%. International Paper traded down 2.8% following the results while Packaging Corporation of America was also down 2.7%.
Read our full analysis of International Paper’s results here and Packaging Corporation of America’s results here.
There has been positive sentiment among investors in the industrials segment, with share prices up 7.1% on average over the last month. Crown Holdings is up 1.9% during the same time and is heading into earnings with an average analyst price target of $122.43 (compared to the current share price of $107.91).
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