Metal packaging products manufacturer Crown Holdings (NYSE: CCK) will be reporting results tomorrow after the bell. Here’s what investors should know.
Crown Holdings met analysts’ revenue expectations last quarter, reporting revenues of $2.90 billion, up 1.6% year on year. It was a satisfactory quarter for the company, with EPS guidance for next quarter 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 2.1% year on year to $2.84 billion, a reversal from the 6.4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.23 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 six 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 8.2%, beating analysts’ expectations by 1.5%, and Avery Dennison reported flat revenue, in line with consensus estimates. Packaging Corporation of America traded down 1.1% following the results, while Avery Dennison’s stock price was unchanged.
Read our full analysis of Packaging Corporation of America’s results here and Avery Dennison’s results here.
Investors in the industrials segment have had fairly steady hands going into earnings, with share prices down 1.4% on average over the last month. Crown Holdings’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $107.26 (compared to the current share price of $89.31).
Unless you’ve been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story.
