- Adjusted EPS: $1.81, exceeding the previous year’s $1.68 and the estimate of $1.59.
- Net Sales: $3.04 billion, down 2.2% from last year, slightly missing the estimate of $3.07 billion.
- Americas Beverage Revenue: $1.33 billion, up 2.6% year-over-year, matching the estimate.
- Europe Beverage Revenue: $560 million, up 5.3% year-over-year, beating the estimate of $542.7 million.
- Asia Pacific Revenue: $290 million, down 13% year-over-year, missing the estimate of $311.2 million.
- Transit Packaging Revenue: $550 million, down 7.9% year-over-year, below the estimate of $568.5 million.
- Other Revenue: $315 million, down 12% year-over-year, less than the estimate of $326.7 million.
- Americas Beverage Operating Income: $243 million, up 15% year-over-year, surpassing the estimate of $212.6 million.
- Europe Beverage Operating Income: $88 million, up 19% year-over-year, exceeding the estimate of $73.6 million.
- Asia Pacific Operating Income: $55 million, up 45% year-over-year, beating the estimate of $41.1 million.
- Transit Packaging Operating Income: $73 million, down 18% year-over-year, below the estimate of $78.1 million.
- Other Income: $14 million, down 61% year-over-year, missing the estimate of $19.5 million.
- Adjusted Free Cash Flow: $361 million, up 18% year-over-year, significantly higher than the estimate of $218.2 million.
- Forecast for 3Q 2024 Adjusted EPS: Expected to be in the range of $1.75 to $1.85.
- CEO Comment: Timothy J. Donahue praised strong results in all global beverage divisions.
- Analyst Ratings: 12 buys, 5 holds, and 0 sells.
- Year-End 2024 Expectation: Net leverage to be below 3.0 times due to improved earnings, strong free cash flow, and proceeds from the Eviosys sale.
Crown Holdings on Smartkarma
Analyst coverage of Crown Holdings on Smartkarma reveals bullish sentiments from top independent analysts. Baptista Research‘s report, “Crown Holdings Inc.: Will The Management Focus on Value over Volume Bear Fruit? – Major Drivers,” highlights the company’s robust first-quarter performance in 2024 with both positives and negatives, including a decrease in earnings per diluted share. On the other hand, Baptista Research‘s “Crown Holdings: Initiation Of Coverage – How They’re Turning the Tables in North America – What’s Next? – Major Drivers” explores the company’s financial performance during Q4 2023, focusing on the North American and Brazilian markets and showing an increase in adjusted earnings.
Value Investors Club‘s analysis, “Crown Holdings Inc (CCK) – Monday, Feb 5, 2024,” emphasizes the potential for significant upside as Crown Holdings‘ investment program winds down, cash flow improves, leverage decreases, and the company shifts its focus to returning capital to shareholders. Overall, the coverage suggests a positive outlook for Crown Holdings, with a keen eye on various growth drivers and strategic initiatives.
A look at Crown Holdings Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 2 | |
| Growth | 3 | |
| Resilience | 2 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 2.6 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on the Smartkarma Smart Scores, Crown Holdings, a company specializing in packaging products, demonstrates a moderate outlook for the long term. With a Value score of 3, Growth score of 3, and Momentum score of 3, the company shows promising signs in these aspects. While the Dividend and Resilience scores are slightly lower at 2, indicating room for improvement in terms of dividends and overall stability, the overall outlook for Crown Holdings appears steady and potentially fruitful for investors looking for a balanced investment option.
Crown Holdings, Inc. designs and produces packaging solutions globally, focusing on steel and aluminum cans for various consumer goods. In addition to cans, the company offers a range of metal caps, closures, and dispensing systems. This diverse product portfolio positions Crown Holdings as a key player in the packaging industry, with a solid foundation for future growth and innovation.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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