ADVFN - Advanced Financial Network.
HOME» NYSE » C » CCK Stock Price » CCK Stock News

Crown Share News

 Crown Holdings Stock Price
CCK Stock Price
 Crown Holdings Stock Chart
CCK Stock Chart
 Crown Holdings Stock News
CCK Stock News
 Crown Holdings Company Information
CCK Company Information
 Crown Holdings Stock Trades
CCK Stock Trades

CORRECT(7/19): Crown Holdings 2Q Profit Up 6.7% As Volumes Grow

("Crown Holdings 2Q Profit Up 6.7% As Global Volumes Grow," published at 6:26 p.m. EDT Monday, incorrectly described the effect of changes in currency values in the sixth paragraph. The correct version follows.) DOW JONES NEWSWIRES Crown Holdings Inc.'s (CCK) second-quarter profit grew 6.7% on higher sales and lower costs as global can volumes continued to increase. The can manufacturer's earnings matched Wall Street's expectations but revenue was below analysts' estimate. Chairman and Chief Executive John Conway said the results "were driven by improved global volumes across all product lines." Demand for Crown's products has held up well in the U.S. as more cash-strapped consumers turn to packaged foods they eat at home. And metal containers remain a growing business in many parts of the world. Crown, which has reduced its debt and extended maturities, has been expanding in emerging markets, especially Brazil and Southeast Asia, as it continues to diversify its geographic footprint and product mix. For the latest quarter, Crown reported a profit of $112 million, or 69 cents a share, up from $105 million, or 65 cents a share, a year earlier. Excluding items, earnings rose to 67 cents from 66 cents. Revenue slid 2.2% to $2.01 billion. Changes in currency values reduced the total by $17 million. Analysts estimated earnings of 67 cents on revenue of $2.1 billion, according to a poll by Thomson Reuters. Gross margin rose to 16.7% from 16.2% on higher sales volumes and cost-cutting. Beverage-can sales unit volumes rose 8% worldwide--growing for the second quarter in a row--and 10% in North America. Net sales decreased in every segment except the largest, Americas beverage, where they grew 15%. Earnings increased 18% in the Americas beverage segment and 14% in North America food but fell 15% in European beverage and 17% in European food. Crown's shares were down 0.3% at $25.78 in after-hours trading. The stock, which reached a 52-week low in May, was up 1% as of the close. -By Kathy Shwiff, Dow Jones Newswires; 212-416-2357; Kathy.Shwiff@dowjones.com

Stock News for Crown (CCK)
DateTimeHeadline
04/21/201504:10:48Crown Holdings Stock Rating Upgraded by Bank of America (CCK)
04/20/201513:31:13Crown Holdings Price Target Raised to $63.00 at Jefferies Group...
04/20/201507:41:21Crown Holdings Given New $60.00 Price Target at Robert W. Baird...
04/16/201517:13:02Current Report Filing (8-k)
04/16/201517:01:00Crown Holdings, Inc. Reports First Quarter 2015 Results
04/15/201516:52:00Crown Reaches New Labor Agreement With United Steelworkers
04/07/201516:46:53Ball Says U.S. Seeks More Information on Rexam Acquisition
04/07/201516:45:53Ball Says U.S. Seeks More Information on Rexam Acquisition
03/18/201511:14:00Crown Holdings Schedules First Quarter 2015 Earnings Conference...
03/17/201507:56:35The Best Stocks To Buy This Week
03/16/201512:59:52Proxy Statement (definitive) (def 14a)
03/11/201510:15:31Initial Statement of Beneficial Ownership (3)
03/10/201507:17:07My Top Containers And Packaging Stocks For 2015
03/09/201505:48:27The Top Scoring Stocks To Buy This Week
03/04/201515:21:59Current Report Filing (8-k)
03/03/201511:04:00Crown Holdings, Inc. Announces David A. Beaver Promoted To Vice...
03/02/201515:08:36Statement of Changes in Beneficial Ownership (4)
03/02/201515:08:35Statement of Changes in Beneficial Ownership (4)
03/02/201515:08:35Statement of Changes in Beneficial Ownership (4)
03/02/201515:08:35Statement of Changes in Beneficial Ownership (4)

Crown and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad