Crown Holdings Can Volumes Grow 11% YOY, Goldman Sachs Reports

Crown Holdings, Inc. CCK reported 3Q10 EPS (excluding one-time items of minus $0.01) of $0.85 matching the high end of its guidance and beating consensus of $0.83, Goldman Sachs reports, noting that it had forecast 3Q10 EPS of $0.86. “CCK reported its global beverage can volumes grew 11% yoy in 3Q10, reflecting strength in emerging markets' demand plus the benefits of CCK's new beverage can lines in Slovakia, Brazil, and Vietnam,” Goldman Sachs writes. “CCK generated $150 mn of free cash flow in the quarter and used $105 mn to buy back stock, reducing its share count by 3.0 mn from the end of 2Q10 to the end of 3Q10.” Crown Holdings closed Monday at $29.74.