Metal packaging products manufacturer Crown Holdings (NYSE: CCK) will be reporting results this Monday after market hours. Here’s what investors should know.
Crown Holdings beat analysts’ revenue expectations by 1.5% last quarter, reporting revenues of $2.89 billion, up 3.7% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
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 2.7% year on year to $3.12 billion, a reversal from the 2.2% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.87 per share.
The majority of analysts covering the company have 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 five times over the last two years.
Looking at Crown Holdings’s peers in the industrials segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Lindsay delivered year-on-year revenue growth of 21.7%, beating analysts’ expectations by 4.6%, and AAR reported revenues up 14.9%, topping estimates by 8.6%. Lindsay traded up 3.9% following the results while AAR was also up 13.4%.
Read our full analysis of Lindsay’s results here and AAR’s results here.
There has been positive sentiment among investors in the industrials segment, with share prices up 8.2% on average over the last month. Crown Holdings is up 2.5% during the same time and is heading into earnings with an average analyst price target of $118.22 (compared to the current share price of $106.23).
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