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Crown (CCK) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended June 2024, Crown Holdings (CCK - Free Report) reported revenue of $3.04 billion, down 2.2% over the same period last year. EPS came in at $1.81, compared to $1.68 in the year-ago quarter.
The reported revenue represents a surprise of -0.68% over the Zacks Consensus Estimate of $3.06 billion. With the consensus EPS estimate being $1.59, the EPS surprise was +13.84%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Crown performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
External Sales- Americas Beverage: $1.33 billion compared to the $1.34 billion average estimate based on four analysts. The reported number represents a change of +2.6% year over year.
External Sales- European Beverage: $560 million versus $533.16 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +5.3% change.
External Sales- Transit Packaging: $550 million versus the four-analyst average estimate of $554.72 million. The reported number represents a year-over-year change of -7.9%.
Net Sales- Other segments: $315 million versus $334.74 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -11.5% change.
External Sales- Asia Pacific: $290 million versus the four-analyst average estimate of $312.39 million. The reported number represents a year-over-year change of -12.7%.
Segment Income- Americas Beverage: $243 million versus the four-analyst average estimate of $222.02 million.
Segment Income- Asia Pacific: $55 million versus the four-analyst average estimate of $41.27 million.
Segment Income- Corporate and other: -$36 million versus -$33.51 million estimated by four analysts on average.
Segment Income- Transit Packaging: $73 million versus $80.01 million estimated by four analysts on average.
Segment Income- Other segments: $14 million versus $20.35 million estimated by three analysts on average.
Segment Income- European Beverage: $88 million versus $74.95 million estimated by three analysts on average.
Shares of Crown have returned +0.1% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Crown (CCK) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended June 2024, Crown Holdings (CCK - Free Report) reported revenue of $3.04 billion, down 2.2% over the same period last year. EPS came in at $1.81, compared to $1.68 in the year-ago quarter.
The reported revenue represents a surprise of -0.68% over the Zacks Consensus Estimate of $3.06 billion. With the consensus EPS estimate being $1.59, the EPS surprise was +13.84%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Crown performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- External Sales- Americas Beverage: $1.33 billion compared to the $1.34 billion average estimate based on four analysts. The reported number represents a change of +2.6% year over year.
- External Sales- European Beverage: $560 million versus $533.16 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +5.3% change.
- External Sales- Transit Packaging: $550 million versus the four-analyst average estimate of $554.72 million. The reported number represents a year-over-year change of -7.9%.
- Net Sales- Other segments: $315 million versus $334.74 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -11.5% change.
- External Sales- Asia Pacific: $290 million versus the four-analyst average estimate of $312.39 million. The reported number represents a year-over-year change of -12.7%.
- Segment Income- Americas Beverage: $243 million versus the four-analyst average estimate of $222.02 million.
- Segment Income- Asia Pacific: $55 million versus the four-analyst average estimate of $41.27 million.
- Segment Income- Corporate and other: -$36 million versus -$33.51 million estimated by four analysts on average.
- Segment Income- Transit Packaging: $73 million versus $80.01 million estimated by four analysts on average.
- Segment Income- Other segments: $14 million versus $20.35 million estimated by three analysts on average.
- Segment Income- European Beverage: $88 million versus $74.95 million estimated by three analysts on average.
View all Key Company Metrics for Crown here>>>Shares of Crown have returned +0.1% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.