- Crown Holdings (CCK +2.1%) reported Q1 revenue increased by 15.8% Y/Y to $2.2B reflecting 3% increase in global beverage can volume.
- Segment revenues: Americas beverages +11.1% Y/Y to $758M, European beverage +18.33% Y/Y to $371M, European food +11.4% Y/Y to $428M and Asia pacific +17.5% Y/Y to $337M.
- Adjusted earnings rose by 22% Y/Y to $0.94.
- Q1 overall operating margin declined by 178 bps to 10.06%. Segment operating margins: Americas beverage declined by 250 bps to 12.9%, European beverages declined by 168 bps to 14.8%, European food declined by 37 bps to 13.08% and Asia pacific declined by 97 bps to 13.06%.
- Q2 2018 Outlook: Adjusted EPS $1.55-1.65 vs. consensus of $1.60.
- FY 2018: Adjusted EPS $5.35-5.55; tax rate 25-26% adjusted cash flow $625M.
- Previously: Crown Holdings beats by $0.14, beats on revenue (April 18)
- Now read: Sealed Air (NYSE:SEE) Presents At Bank of America Merrill Lynch (NYSE:BAC) 2018 Global Agriculture and Chemicals Conference - Slideshow
Original article