By Roshan Fernandez

Crown Holdings increased its full-year guidance, with the manufacturer saying it feels well-positioned in regards to tariffs given that virtually all its products sold in the U.S. are produced here.

The Tampa, Fla.-based maker of aluminum cans and aerosol containers said first-quarter profit rose to $193 million, or $1.65 a share, from $67 million, or 56 cents a share, a year earlier.

Excluding one-time items, per-share earnings were $1.67, well above the $1.24 per share that analysts were expecting, according to FactSet.

Revenue grew to $2.89 billion from $2.78 billion a year earlier. Analysts surveyed by FactSet had forecast sales of $2.82 billion.

Income in the beverage can segment climbed 24% compared to a year prior, Chief Executive Timothy Donahue said, which he attributed to increased volumes in Brazil and Europe. Growth in North America, which was in the low-single digit range, was also better than expected, he said.

The company said it expects second-quarter adjusted earnings to be between $1.80 and $1.90 per share. Analysts were expecting $1.81.

Crown Holdings raised its full-year guidance for adjusted earnings to be between $6.70 to $7.10 per share, up from $6.60 to $7. Analysts were expecting $6.80 per share.

Chief Financial Officer Kevin Clothier said the packaging company was mindful of tariff increases but still raised guidance due to firm demand and its first-quarter performance.

Crown Holdings and competitor Ball Corp. have pass-through contracts, which means that costs stemming from tariffs on aluminum can be passed along to corporate customers.

"The Crown team is working diligently in this dynamic environment to optimize supply chains and minimize the potential impact of tariffs," said Donahue.

Shares rose 5% to $94 in Monday's aftermarket trading.

Write to Roshan Fernandez at roshan.fernandez@wsj.com

(END) Dow Jones Newswires

April 28, 2025 17:21 ET (21:21 GMT)

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