CROWN HOLDINGS Reports Second Quarter FY2023 Earnings Results as of June 30 2023

🌥️Earnings Overview

CROWN ($NYSE:CCK): The company’s total revenue for the quarter was USD 3109.0 million, a decrease of 11.4% from the same period of the previous year. Reported net income was USD 157.0 million, which was 46.8% lower than the year before.

Stock Price

The company opened the day at $90.8, and closed at $90.5, indicating a drop of 0.3% from the previous closing price of $90.8. This was largely due to higher sales of beverage cans in North America and Europe, as well as increased sales of aerosol and specialty cans globally. Despite the impressive numbers, CROWN HOLDINGS‘ stock failed to rise and stayed almost at the level it opened at. However, the company has expressed optimism about its future prospects, expecting higher revenue and improved cost controls to drive higher net income in the upcoming quarters. 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

GoodWhale has conducted an analysis of CROWN HOLDINGS‘s financials, and the results were quite positive. According to the Star Chart, CROWN HOLDINGS is strong in asset, dividend, and profitability, while weak in growth. Furthermore, CROWN HOLDINGS has a high health score of 8/10 with regard to its cashflows and debt, indicating that it is capable to pay off debt and fund future operations. We classify CROWN HOLDINGS as a ‘cow’, a type of company that has the track record of paying out consistent and sustainable dividends. Investors who are looking for steady and reliable income from their investments may find this company attractive. It may also be of interest to investors who seek companies with good cashflows and low debt, making it a relatively low-risk investment. Furthermore, those who prioritize income over growth may find CROWN HOLDINGS particularly attractive. 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 their earnings results for the second quarter of FY2023 and showed a decrease of 11.4% in total revenue, compared to the same period last year. Net income decreased by 46.8%. Investors should analyze the company’s performance over the past few quarters to determine if the current decline is temporary or part of a longer trend. Additionally, investors should consider factors such as competitive environment, company management, and product portfolio when analyzing whether the company is a good investment opportunity.