Metal packaging products manufacturer Crown Holdings (NYSE: CCK) will be announcing earnings results this Monday after market close. Here’s what investors should know.
Crown Holdings beat analysts’ revenue expectations last quarter, reporting revenues of $3.13 billion, up 7.7% year on year. It was a satisfactory quarter for the company, with an impressive beat of analysts’ revenue estimates but full-year EPS guidance slightly missing 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, the market is expecting Crown Holdings’s revenue to grow 4.7% year on year, improving from the 3.7% increase it recorded in the same quarter last year.
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 multiple times over the last two years.
Looking at Crown Holdings’s peers in the industrials segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Packaging Corporation of America delivered year-on-year revenue growth of 10.6%, missing analysts’ expectations by 2%, and Gorman-Rupp reported revenues up 7.7%, topping estimates by 3.5%. Packaging Corporation of America traded up 4.8% following the results while Gorman-Rupp was also up 16.4%.
Read our full analysis of Packaging Corporation of America’s results here and Gorman-Rupp’s results here.
There has been positive sentiment among investors in the industrials segment, with share prices up 12.6% on average over the last month. Crown Holdings is up 1.6% during the same time and is heading into earnings with an average analyst price target of $125.85 (compared to the current share price of $101.16).
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