Crown Holdings (NYSE: CCK) reported Q4 EPS of $1.50, $0.23 better than the analyst estimate of $1.27. Revenue for the quarter came in at $2.96 billion versus the consensus estimate of $2.87 billion.

GUIDANCE:

Crown Holdings sees Q1 2021 EPS of $1.35-$1.40, versus the consensus of $1.26.

Crown Holdings sees FY2021 EPS of $6.60-$6.80, versus the consensus of $6.38.

• The Company currently expects first quarter and full year 2021 adjusted diluted earnings to be in the ranges of $1.35 to $1.40 and $6.60 to $6.80 per share, respectively. EBITDA for 2021 is expected to be approximately $2.0 billion and net leverage is projected to be approximately 3.5x at the end of 2021.
• The adjusted effective income tax rate for the full year of 2021 is expected to be between 24% and 25%.
• Adjusted free cash flow, as defined below, is currently expected to be approximately $500 million for 2021 with approximately $850 million of capital spending.
• The projections above represent management's best estimates at this time. The uncertainty of the impact and duration of the coronavirus pandemic makes it inherently difficult for the Company to estimate the projected performance of its business, particularly over the near term. Please see "Cautionary Note Regarding Forward-Looking Statements" below for further information.
• In direct response to the pandemic, the Company has taken specific actions to ensure the safety of its employees. Following the implementation of travel and visitor restrictions in February 2020, Crown continues to update its policies as new information becomes available. The Company has taken increased safety measures in its manufacturing facilities to ensure the safety of its employees and the products they produce. In addition, as many Crown employees as possible are working remotely.
• The Company's products are a vital part of the support system to its customers and consumers. In addition to manufacturing containers that provide protection for food and beverages, Crown also produces closures for baby food, aerosol containers for cleaning and sanitizing products and numerous products that provide for the safe and secure transportation of goods in transit.
• The Company is working to ensure that its manufacturing facilities around the world remain operational and are equipped with the resources required to meet continually evolving customer demand by delivering high quality products in a safe and timely manner. Crown is actively monitoring and managing supply chain challenges, including coordinating with the Company's suppliers to identify and mitigate potential areas of risk and manage inventories.

For earnings history and earnings-related data on Crown Holdings (CCK) click here.