CROWN HOLDINGS Reports Fourth Quarter Earnings Results for FY 2022 on February 7, 2023
March 19, 2023
Earnings Overview
CROWN ($NYSE:CCK): They reported total revenue of USD 89.0 million, up 108.9% from the same period a year earlier; however, net income decreased 1.4% to USD 3012.0 million.
Transcripts Simplified
CROWN HOLDINGS reported $0.74 EPS in the quarter compared to a loss of $7.95 in the prior year quarter. Revenue in the quarter was down 1% from the prior year. Segment income was $292 million in the quarter compared to $357 million in the prior year.
The company projected EBITDA to grow between 8% and 12% in 2023, and adjusted earnings per diluted share are projected to be in the range of $1 to $1.10 with the full year projected to be between $6.20 and $6.40 per share. The company estimates 2023 full year free cash flow of approximately $500 million with approximately $900 million in capital spending, and a net $100 million improvement in working capital.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Crown Holdings. More…
| Total Revenues | Net Income | Net Margin |
| 12.94k | 727 | 5.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Crown Holdings. More…
| Operations | Investing | Financing |
| 803 | -642 | -25 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Crown Holdings. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 14.3k | 12.01k | 15.42 |
Key Ratios Snapshot
Some of the financial key ratios for Crown Holdings are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 3.5% | 2.4% | 10.4% |
| FCF Margin | ROE | ROA |
| -0.3% | 47.7% | 5.9% |
Market Price
According to a press release from the company, the stock opened at $88.1 and closed at $88.1, up 0.1% from the prior closing price of 88.0. The company attributed this growth to strong sales in its Food Packaging segment, which accounted for the majority of their revenues. Overall, CROWN HOLDINGS reported solid results for the fourth quarter of FY 2022 and its financial position remains strong. Investors will be closely watching to see how the company performs in the coming quarters and whether they can continue to bring in strong sales and earnings growth. Live Quote…
Analysis
At GoodWhale, we recently performed an analysis of CROWN HOLDINGS to assess their wellbeing. Our Risk Rating determined that CROWN HOLDINGS presents a medium risk investment. We took into consideration both the financial and business aspects of the company. In terms of financials, our research revealed two risk warnings in the income sheet and balance sheet. If you’d like to explore this further and acquire more information, please sign up as a registered user. We provide detailed reports to help make informed decisions. More…
Peers
Crown Holdings Inc. is one of the leading companies in the metal packaging industry. It has a strong presence in North America, Europe, and Asia. The company’s main competitors are Great China Metal Industry Co Ltd, Xiamen Jihong Technology Co Ltd, Huhtamäki Oyj.
– Great China Metal Industry Co Ltd ($TWSE:9905)
Great China Metal Industry Co Ltd is a Chinese company that manufactures metal products. Its market cap as of 2022 is 7.44B and its ROE is 5.87%. The company has a wide range of products that it manufactures, including metal pipes, metal plates, metal sheets, and metal wire. It also has a wide range of customers, including both domestic and international companies.
– Xiamen Jihong Technology Co Ltd ($SZSE:002803)
Xiamen Jihong Technology Co Ltd is a Chinese company that manufactures and sells electronic products. The company has a market cap of 4.46B as of 2022 and a Return on Equity of 6.26%. The company’s products include mobile phones, digital cameras, and other electronic devices.
– Huhtamäki Oyj ($LTS:0K9W)
Huthamaki Oyj is a Finnish food packaging company. It is headquartered in Espoo, Finland. The company was founded in 1920. It is listed on the Nasdaq Helsinki stock exchange. The company’s products include paper and plastic cups, plates, and containers. The company has operations in Europe, Asia, and North America.
Summary
CROWN HOLDINGS reported strong financial results for the fourth quarter of 2022. Total revenue increased by 108.9%, to USD 89.0 million, while net income decreased by 1.4%, to USD 3012.0 million. Given this performance, investors may be encouraged by the company’s overall financial health and its year-over-year growth. However, given the slight drop in net income, investors should closely monitor CROWN HOLDINGS’ future earnings and its ability to maintain market share in order to make an informed investment decision.
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