Metal packaging products manufacturer Crown Holdings (NYSE:CCK) will be reporting results tomorrow after market close. Here’s what you need to know.
Crown Holdings met analysts’ revenue expectations last quarter, reporting revenues of $3.07 billion, flat year on year. It was a strong quarter for the company, with an impressive beat of analysts’ adjusted operating income estimates 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.
This quarter, analysts are expecting Crown Holdings’s revenue to grow 1.5% year on year to $2.9 billion, a reversal from the 5.1% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.51 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.
Looking at Crown Holdings’s peers in the industrial packaging segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Packaging Corporation of America delivered year-on-year revenue growth of 10.7%, beating analysts’ expectations by 0.6%, and Silgan Holdings reported revenues up 5.3%, in line with consensus estimates. Packaging Corporation of America traded down 9.8% following the results while Silgan Holdings was up 5.9%.
Read our full analysis of Packaging Corporation of America’s results here and Silgan Holdings’s results here.
Investors in the industrial packaging segment have had steady hands going into earnings, with share prices flat over the last month. Crown Holdings is up 8.5% during the same time and is heading into earnings with an average analyst price target of $107.57 (compared to the current share price of $86.91).
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