Ball Corp. Earnings: Beats Profit View, Lighter on Revenue

S&P 500 (NYSE:SPY) component Ball Corporation (NYSE:BLL) reported its results for the second quarter. Ball Corporation supplies metal and plastic packaging to the household products, food and beverage industries as well as aerospace and other technologies and services to governmental and commercial customers.

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Ball Corporation Earnings Cheat Sheet

Results: Net income for Ball Corporation fell to $139.5 million (88 cents per share) vs. $143.1 million (84 cents per share) a year earlier. This is a decline of 2.5% from the year-earlier quarter.

Revenue: Fell 0.6% to $2.3 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Ball Corporation beat the mean analyst estimate of 87 cents per share. It fell short of the average revenue estimate of $2.35 billion.

Quoting Management: “Our improved second quarter and first half results reflect the continued successful execution of our Drive for 10 strategy and our focus on returning value to our shareholders,” said John A. Hayes, president and chief executive officer.

Key Stats:

The company has now seen net income fall for four quarters in a row. In the first quarter, net income fell 3.3% while the figure fell 15.9% in the fourth quarter of the last fiscal year and 41.9% in the third quarter of the last fiscal year.

A year-over-year revenue decrease last quarter breaks a four-quarter streak of revenue increases. The best quarter in that span was the second quarter of the last fiscal year, which saw revenue rise 15.1%.

The company has now beaten estimates the last two quarters. In the first quarter, it topped expectations with net income of 63 cents versus a mean estimate of net income of 59 cents per share.

Looking Forward: Analysts appear increasingly optimistic about the company’s results for the next quarter. The average estimate for the third quarter has moved up from 91 cents a share to 92 cents over the last ninety days. The average estimate for the fiscal year is now $3.09 per share, down from $3.12 sixty days ago.

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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