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Ball Corporation (BLL) to Post Q3 Earnings: What to Expect?
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Ball Corporation is set to release third-quarter 2017 results before the opening bell on Nov 2.
In the last reported quarter, the company had missed the Zacks Consensus Estimate. Ball Corporation delivered an average positive earnings surprise of 3.00% in the last four quarters.
Let’s see how things are shaping up for this announcement.
Ball Corporation anticipates its food and aerosol business to improve in the third quarter due to incremental progress in the Canton metal service center, improving manufacturing metrics, as well as the ramping-up of its new aluminum aerosol capacity in Europe and India. Further, the company’s focus on expansion of highly sustainable and lightweight ReAl product line will likely drive growth.
Ball Corporation remains on track for transformational work in the second half of 2017. The company's debt came down by $300 million in the second quarter since the end of the first quarter on strong operational performance and working capital management despite normal seasonal working capital build. The company expects that debt will continue to come down in the quarter to be reported.
However, additional depreciation and non-steel related amortization expense will hurt its performance. Also, the company’s third quarter is a seasonally slow quarter.
Moreover, shares of Ball Corporation have gained 11% over the past year, underperforming 12.2% growth recorded by the industry.
So what should investors expect from Ball Corporation’s Q3 earnings announcement? By using our Zacks Consensus Estimates, as well as our exclusive non-financial metrics file, we’ve found three important things to note ahead of Ball Corporation’s report:
Earnings
Based on the latest Zacks Consensus Estimate, we expect Ball Corporation to report earnings of 59 cents per share in the third quarter. This would mark growth of 23% from the 48 cents per share posted in the year-ago quarter.
Revenue
The Zacks Consensus Estimate for sales of Ball Corporation’s Aerospace and Technologies segment is pegged at $238 million for the third quarter, reflecting 16.7% year over year improvement. We also expect that sales at the Beverage packaging, Europe segment will likely be $718 million, up 4.5% year over year.
Sales estimates for Beverage packaging in the North and Central America segment, and the South America segment are pegged at $1,116 million and $334 million, respectively, for the quarter to be reported. However, the Food and Aerosol Packaging segment is projected to report sales of $320 million, down 2.7% from $329 million reported in the prior-year quarter.
Currently, Ball Corporation carries a Zacks Rank #4 (Sell).
Stocks Worth a Look
Here are a few stocks worth considering as these have the right combination of elements to post an earnings beat this quarter.
ACADIA Pharmaceuticals Inc. (ACAD - Free Report) also has a Zacks Rank of 3 and its Earnings ESP is +3.20%. The company is slated to release third-quarter results on Nov 6.
Axcelis Technologies, Inc. (ACLS - Free Report) has an Earnings ESP of +2.35% and carries a Zacks Rank of 3. It is scheduled to release earnings on Nov 2.
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Ball Corporation (BLL) to Post Q3 Earnings: What to Expect?
Ball Corporation is set to release third-quarter 2017 results before the opening bell on Nov 2.
In the last reported quarter, the company had missed the Zacks Consensus Estimate. Ball Corporation delivered an average positive earnings surprise of 3.00% in the last four quarters.
Let’s see how things are shaping up for this announcement.
Ball Corporation Price and EPS Surprise
Ball Corporation Price and EPS Surprise | Ball Corporation Quote
Factors to Consider
Ball Corporation anticipates its food and aerosol business to improve in the third quarter due to incremental progress in the Canton metal service center, improving manufacturing metrics, as well as the ramping-up of its new aluminum aerosol capacity in Europe and India. Further, the company’s focus on expansion of highly sustainable and lightweight ReAl product line will likely drive growth.
Ball Corporation remains on track for transformational work in the second half of 2017. The company's debt came down by $300 million in the second quarter since the end of the first quarter on strong operational performance and working capital management despite normal seasonal working capital build. The company expects that debt will continue to come down in the quarter to be reported.
However, additional depreciation and non-steel related amortization expense will hurt its performance. Also, the company’s third quarter is a seasonally slow quarter.
Moreover, shares of Ball Corporation have gained 11% over the past year, underperforming 12.2% growth recorded by the industry.
So what should investors expect from Ball Corporation’s Q3 earnings announcement? By using our Zacks Consensus Estimates, as well as our exclusive non-financial metrics file, we’ve found three important things to note ahead of Ball Corporation’s report:
Earnings
Based on the latest Zacks Consensus Estimate, we expect Ball Corporation to report earnings of 59 cents per share in the third quarter. This would mark growth of 23% from the 48 cents per share posted in the year-ago quarter.
Revenue
The Zacks Consensus Estimate for sales of Ball Corporation’s Aerospace and Technologies segment is pegged at $238 million for the third quarter, reflecting 16.7% year over year improvement. We also expect that sales at the Beverage packaging, Europe segment will likely be $718 million, up 4.5% year over year.
Sales estimates for Beverage packaging in the North and Central America segment, and the South America segment are pegged at $1,116 million and $334 million, respectively, for the quarter to be reported. However, the Food and Aerosol Packaging segment is projected to report sales of $320 million, down 2.7% from $329 million reported in the prior-year quarter.
Currently, Ball Corporation carries a Zacks Rank #4 (Sell).
Stocks Worth a Look
Here are a few stocks worth considering as these have the right combination of elements to post an earnings beat this quarter.
Apple Inc. (AAPL - Free Report) is scheduled to report quarterly numbers on Nov 2. It has an Earnings ESP of +1.17% and carries a Zacks Rank of 3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
ACADIA Pharmaceuticals Inc. (ACAD - Free Report) also has a Zacks Rank of 3 and its Earnings ESP is +3.20%. The company is slated to release third-quarter results on Nov 6.
Axcelis Technologies, Inc. (ACLS - Free Report) has an Earnings ESP of +2.35% and carries a Zacks Rank of 3. It is scheduled to release earnings on Nov 2.
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors.
Click here for Zacks' private trades >>