Crown Holdings Sees Q2 EPS $1.55-$1.65 Vs $1.56 Est.; Affirms FY24 EPS Guidance Of $5.80-$6.20 Vs $5.98 Est.; Expects The Adjusted Effective Income Tax Rate To Be ~25% And Adjusted Net Leverage To Be At The Low End Of The Target Range Of 3.0x To 3.5x.
Portfolio Pulse from Benzinga Newsdesk
Crown Holdings projects Q2 EPS to be between $1.55 and $1.65, aligning with estimates of $1.56. The company also reaffirms its full-year 2024 EPS guidance of $5.80 to $6.20, closely matching the $5.98 estimate. Additionally, Crown Holdings anticipates an adjusted effective income tax rate of around 25% and aims to maintain its adjusted net leverage at the lower end of the 3.0x to 3.5x target range.
April 29, 2024 | 8:07 pm
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Crown Holdings projects Q2 EPS to be between $1.55 and $1.65, closely aligning with the $1.56 estimate, and reaffirms its FY24 EPS guidance of $5.80 to $6.20, which is near the $5.98 estimate. The company also aims for an adjusted net leverage at the lower end of the 3.0x to 3.5x range.
Crown Holdings' reaffirmation of its FY24 EPS guidance and its Q2 EPS projection closely matching estimates are positive signals to investors, indicating stability and confidence in the company's financial outlook. The commitment to maintaining adjusted net leverage at the lower end of the target range further supports a positive outlook, suggesting effective debt management and financial health.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100