In after-hours trading on Monday, shares of Crown Holdings plummeted by 14% to $76.25. This decline came as a result of the company's fourth-quarter financial results and full-year outlook failing to meet analysts' expectations. Crown Holdings, which specializes in manufacturing packaging products, reported a fourth-quarter net profit of $32 million, or 27 cents per share. This represents a decrease from the $89 million, or 74 cents per share, that the company earned during the same period the previous year.

When adjusting for one-time items, the earnings per share for the fourth quarter came in at $1.24, falling short of the $1.43 forecasted by analysts surveyed by FactSet. Furthermore, revenue dropped by 5.1% to $2.86 billion, missing analysts' expectations of $3.0 billion.

Looking ahead, Crown Holdings projects adjusted earnings per share of $5.80 to $6.20 for the year, lower than the previous year's figure and below analysts' expectations of $6.77. The company attributes this outlook to "demand softness in the company's beverage can making equipment and North American aerosol businesses."

It is clear that consumer-spending pressure has impacted the company's performance, and investors are responding accordingly. Despite this setback, Crown Holdings remains committed to adapting and navigating these challenges in order to maintain its position within the industry.

By Sabela Ojea

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