This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Crown Holdings' CEO Discusses Q4 2011 Results - Earnings Call Transcript

A reconciliation of Generally Accepted Accounting Principles to non-Generally Accepted Accounting Principles earnings can be found in our earnings release. And if you do not already have the earnings release, it is available on the company's website at You will also find a reconciliation from net income to EBITDA, credit ratio computations, and supplemental cash flow data on the company's website.

I'll first review the quarter and year results, and then hand the call over to John.

We had a very strong finish to what’s been another good year in 2011. Fourth quarter comparable diluted earnings per share increased 14% to $0.48 per share versus $0.42 in last year’s fourth quarter. For the full year, comparable diluted earnings per share were $2.81 in 2011, an increase of 25% over the 2010 level of $2.24.

Net sales in the fourth quarter increased 6% over the prior year as strong emerging market beverage can growth offset weak economic conditions in Europe and a weakening euro and British pound sterling against the US dollar. For the full year net sales rose 9% over 2010. Segment income at $192 million in the fourth quarter was up 4% compared to the prior year as strong emerging market performance offset unfavorable currency translations and lower manufacturing activity which was planned to bring down year end working capital levels. For the year, segment income was up almost 10% over the prior year.

Before, we review operating segment performance, we want to provide you with an update on the flooding in Thailand and its impact on our operations. On our third quarter earnings call on October we noted the severe flooding conditions in Thailand. At that time, none of our plants had been affected. However soon after the call, our beverage can plant north of Bangkok, one of the three plants we operate in the Bangkok area was flooded.

2 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.79 0.10%
FB $102.01 0.10%
GOOG $682.32 -0.12%
TSLA $151.04 0.38%
YHOO $27.04 1.00%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs