Ball Corporation reported second-quarter 2019 adjusted earnings of 64 cents per share, missing the Zacks Consensus Estimate of 65 cents by a whisker. The reported figure, however, improved 10.3% on a year-over-year basis on strong demand trends in both metal beverage packaging and aerospace businesses.
On a reported basis, the company posted earnings of 58 cents per share compared with 34 cents per share recorded in the prior-year quarter.
Total revenues declined to $3,017 million in the reported quarter from $3,101 million in the year-ago quarter. The top line also missed the Zacks Consensus Estimate of $3,028 million. Global beverage can volumes were up 5% in the quarter, driven by a 13% increase in global specialty can volumes.
Operational Update
Cost of sales went down 2.2% year over year to $2,428 million. Gross profit slipped to $589 million from the year-ago quarter’s $617 million. Gross margin came in at 19.5% during the second quarter compared with the prior-year quarter’s 19.9%.
Selling, general and administrative expenses dipped 12.6% year over year to $111 million. Adjusted operating income was down 1.4% to $347 million from the year-ago quarter’s reported figure of $352 million. The company reported operating margin of 11.5% compared with the prior-year’s 11.3%.
Ball Corporation Price, Consensus and EPS Surprise
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Ball Corporation reported second-quarter 2019 adjusted earnings of 64 cents per share, missing the Zacks Consensus Estimate of 65 cents by a whisker. The reported figure, however, improved 10.3% on a year-over-year basis on strong demand trends in both metal beverage packaging and aerospace businesses.
On a reported basis, the company posted earnings of 58 cents per share compared with 34 cents per share recorded in the prior-year quarter.
Total revenues declined to $3,017 million in the reported quarter from $3,101 million in the year-ago quarter. The top line also missed the Zacks Consensus Estimate of $3,028 million. Global beverage can volumes were up 5% in the quarter, driven by a 13% increase in global specialty can volumes.
Operational Update
Cost of sales went down 2.2% year over year to $2,428 million. Gross profit slipped to $589 million from the year-ago quarter’s $617 million. Gross margin came in at 19.5% during the second quarter compared with the prior-year quarter’s 19.9%.
Selling, general and administrative expenses dipped 12.6% year over year to $111 million. Adjusted operating income was down 1.4% to $347 million from the year-ago quarter’s reported figure of $352 million. The company reported operating margin of 11.5% compared with the prior-year’s 11.3%.
Ball Corporation Price, Consensus and EPS Surprise
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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