Crown Holdings falls after forecasting Q4 profit below estimates
CCK•Crown Holdings forecast fourth-quarter adjusted EPS of $1.63 to $1.73, below estimates of $1.80, citing rising input costs. It expects annual adjusted EPS of $8.35 to $8.45 and beat third-quarter sales and adjusted profit estimates.
1. Quarterly outlook
Crown Holdings shares fell 5% after the company forecast fourth-quarter adjusted EPS of $1.63 to $1.73, below estimates of $1.80, citing rising input cost pressures. It expects annual adjusted EPS of $8.35 to $8.45, compared with its prior range of $8.30 to $8.50. Third-quarter sales and adjusted profit beat estimates, helped by robust global beverage can demand.
