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Ball Corp (BLL) to Offer Aluminum Cups to Allegiant Stadium Guests

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Ball Corporation (BLL - Free Report) recently entered into a partnership with Coors Light in a bid to offer the infinitely recyclable Ball Aluminum Cup to visitors at the new Allegiant Stadium in Las Vegas.

Ball Corporation’s lightweight aluminum cups fulfill customers’ increasing preference for more sustainable beverage packaging solutions over other packaging formats. These cups will offer stadium visitors enhanced beverage experience while also providing sustainability and recyclability options. In addition to sustainability and recycling strengths, these aluminum cups are durable, sturdy, and can be customized with logos and graphics.
Molson Coors Beverage Company (TAP - Free Report) makes Allegiant Stadium's official domestic beer, Coors Light. Upon the starting of activities at the Allegiant Stadium, 100,000 of the 20-ounce aluminum cups will be available in the club seats at all events. Through this partnership, Allegiant Stadium joins an increasing number of professional football stadiums that feature the Ball Aluminum Cup.

Global beverage-can demand continues to shoot up as consumers now prefer cans over glass and plastic. Thus, the company is largely investing in aluminum packaging production, in a bid to cater to this rising demand. By 2025, the global beverage can industry is projected to grow by approximately 100 billion units. The company plans to add at least 25 billion units of capacity by 2023 end and sees an opportunity to add as much as 45 billion units of capacity by 2025. The company expects its previously-announced aluminum beverage can and cup projects to add at least 8 billion units of capacity by the end of 2021.

Last month, the company reported third-quarter 2020 adjusted earnings of 89 cents per share, handily beating the Zacks Consensus Estimate of 77 cents. The bottom line increased 27% on a year-over-year basis. Revenues of $3,093 million also surpassed the Consensus Mark of $2,976 million as well as improved 4.7% year over year.

Ball Corporation is focused on pursuing cost control, completing growth capital projects and commercializing on the inherent sustainability attributes of metal packaging, which will benefit it in the foreseeable future. Further, the company has taken actions to improve operational performance in aluminum aerosol business, while initiating additional products to expand aerospace infrastructure and testing capabilities.

Ball Corporation maintains its expectation to deliver long-term diluted earnings per share growth of at least 10-15% beyond 2020 and achieve EVA (economic value added) dollars growth of 4-8% per year.

Share Price Performance

Ball Corporation's shares have gained 33.4% over the past six months outperforming the industry’s growth of 33%.

Zacks Rank and Other Stocks to Consider

Ball Corporation currently carries a Zacks Rank #2 (Buy).

Other top-ranked stocks in the Industrial Products sector include iRobot Corporation (IRBT - Free Report) and  Crown Holdings, Inc. (CCK - Free Report) . While iRobot flaunts a Zacks Rank #1 (Strong Buy), Crown Holdings carries a Zacks Rank of 2 (Buy), at present. You can see the complete list of today's Zacks #1 Rank stocks here.

iRobot has an estimated earnings growth rate of 18.8% for the ongoing year. Shares of the company have gained 19.2% in the past six months.

Crown Holdings has a projected earnings growth rate of 11.7% for fiscal 2020. Over the past six months, the company’s shares have appreciated 56.2%.

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