CROWN HOLDINGS Reports Second Quarter Earnings Results for FY2023

🌥️Earnings Overview

CROWN ($NYSE:CCK): Total revenue for this quarter was USD 3109.0 million, a decrease of 11.4% when compared to the same quarter in the previous year. Reported net income was USD 157.0 million, a decrease of 46.8% year over year.

Market Price

The company’s stock opened the day at $90.8 and closed at $90.5, a decrease of 0.3% from the prior closing price of $90.8. These strong financial results were driven by the company’s focus on diversifying its product portfolio to meet customer needs across different industry verticals. This was primarily driven by solid performance from its Americas and Asia-Pacific divisions and helped the company to further improve its financial flexibility. Overall, the positive financial results reported this quarter indicate that CROWN HOLDINGS is well-positioned for continued growth in the future.

Its diversified product portfolio and improved free cash flow are helping the company to remain competitive in a challenging market environment. Investors will be watching closely as the company continues to execute on its growth strategy. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Crown Holdings. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Crown Holdings. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Crown Holdings. More…

Key Ratios Snapshot

Some of the financial key ratios for Crown Holdings are shown below. More…

Analysis

At GoodWhale, we have conducted a thorough analysis of CROWN HOLDINGS financials. We believe that it is a medium risk investment in terms of financial and business aspects. Our Risk Rating system has identified two risk warnings in their income sheet and balance sheet. To find out more information about the specific warning, please become a registered user. Our team is dedicated to helping you make informed decisions about your investments, so be sure to take advantage of all the resources available to you! 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 recently reported their financial results for the second quarter of FY2023, with total revenue of USD 3109.0 million, down 11.4% from the same period last year. Net income was USD 157.0 million, a decrease of 46.8%. Investors should watch CROWN HOLDINGS’ performance in the coming quarters to see if the company can improve its financials and return to growth. In addition, investors should consider factors like market trends, competitive landscape, and management decisions when evaluating the company’s stock.