A month has gone by since the last earnings report for Crown Holdings (CCK). Shares have added about 6.7% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Crown due for a pullback? Before we dive into how investors and analysts have reacted as of late, let’s take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
Crown Holdings’ Q2 Earnings Beat, Sales Miss Estimates
Crown Holdings reported second-quarter 2020 adjusted earnings per share of $1.33, surpassing the Zacks Consensus Estimate of $1.31. The bottom-line figure, however, declined 8.9% year over year.
Including one-time items, earnings per share slid 7.8% year over year to 94 cents in the reported quarter.
Net sales in the quarter came in at $2,689 million, down from the year-ago quarter’s