Crown Holdings reports Q1 adjusted EPS $1.67, consensus $1.23

Reports Q1 revenue $2.89B, consensus $2.82B. “Crown got off to an excellent start for the year, driven by strong performances in each of our global beverage can businesses,” said Timothy J. Donahue, Chairman, President and Chief Executive Officer. “Combined first quarter beverage can segment income climbed 24% over the prior year, attributable to robust volumes in Brazil and Europe and outstanding operational performance throughout the manufacturing network. Beverage can volume growth in North America, in the low-single digit range, was also better than expected. Increased volumes and improved manufacturing efficiencies propelled a significant advance in income in our North American food can and closures businesses, while Transit Packaging performed in line with expectations.”