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In the last reported quarter, Ball Corp’s earnings and revenues increased year over year. While revenues beat the Zacks Consensus Estimate, earnings missed the same. BALL beat the Zacks Consensus Estimate in two of the trailing four quarters and missed twice, the average surprise being 0.02%.
Q2 Estimates
The Zacks Consensus Estimate for the first-quarter earnings per share is pegged at 90 cents, suggesting growth of 13.6% from the prior-year quarter’s levels. The estimates have moved down 2% over the past 30 days. The Zacks Consensus Estimate for total sales is pegged at $3.93 billion, indicating a year-over-year improvement of 13.6%.
Ball Corp provides key aluminum packaging products and services to consumer-oriented end markets, such as food and beverages, household and healthcare. Demand for these products has been robust on the increased at-home consumption. The company has been benefiting from the strong global beverage-can demand as consumers prefer cans over glass and plastic. These factors are likely to have favored the first-quarter performance. The company has been focused on improving its efficiency and reducing costs. These initiatives might have boosted the company’s margin in the to-be-reported quarter.
The Aerospace segment’s contracted backlog remained strong at $3.2 billion as of the end of the first quarter of 2022. Contracts won but not yet booked into backlog stood at $4.1 billion. Program execution remains at a high level across the business. The segment continues to win and provide mission-critical programs and technologies to the U.S. government, defense, intelligence, reconnaissance and surveillance customers. This is likely to get reflected in Ball Corp’s second-quarter top line.
High input and labor costs due to supply constraints might have impacted the company’s performance in the quarter. Higher-than-expected start-up costs stemming from capacity-expansion measures are likely to have dented performance. Ball Corp has been importing cans to meet demand until the ramp-up of its new plants, which might have led to higher freight costs. These factors are likely to have impacted its margins in the quarter to be reported.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Ball Corp this time around. The combination of a positive Earnings ESP, and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of a positive surprise. You can see the complete list of today’s Zacks #1 Rank stocks here.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: Ball Corp has an Earnings ESP of +0.03%.
Zacks Rank: Currently, the company carries a Zacks Rank #3.
Price Performance
Image Source: Zacks Investment Research
Shares of Ball Corp have fallen 9.8% in the past year compared with the industry's decline of 4.8%.
Other Stocks Worth a Look
Here are some other stocks worth considering, as these too have the right combination of elements to post an earnings beat in their upcoming releases:
MRC Global Inc. (MRC - Free Report) currently has an Earnings ESP of +10.35% and a Zacks Rank of 1. The Zacks Consensus Estimate for second-quarter 2022 earnings has moved up 45% in the past 30 days to 29 cents per share. The estimate suggests a year-over-year growth of 262%. MRC has a trailing four-quarter earnings surprise of 140.8%, on average.
The Zacks Consensus Estimate for MRC’s quarterly revenues is pegged at $847 million, which indicates an increase of 23.5% from the prior-year quarter’s levels.
Eaton (ETN - Free Report) currently has an Earnings ESP of +0.04% and a Zacks Rank of 3. The Zacks Consensus Estimate for second-quarter 2022 earnings is currently pegged at $1.82 per share, suggesting a 5.8% increase from the last-year quarter.
The Zacks Consensus Estimate for quarterly revenues stands at $5.23 billion, indicating year-over-year growth of 0.2%. ETN has a trailing four-quarter earnings surprise of 3.5%, on average.
Mueller Water Products (MWA - Free Report) currently has an Earnings ESP of +2.50% and a Zacks Rank #3. The Zacks Consensus Estimate for second-quarter 2022 earnings is currently at 20 cents per share. The estimate suggests an 11% year-on-year growth.
The Zacks Consensus Estimate for Mueller Water’s quarterly revenues is pegged at $334.6 million, which indicates a year-over-year improvement of 7.8%. MWA has a trailing four-quarter earnings surprise of 9.5%, on average.
Image: Bigstock
Ball Corp (BALL) to Report Q2 Earnings: What's in Store?
Ball Corporation (BALL - Free Report) is scheduled to report second-quarter 2022 results on Aug 4, before the opening bell.
Q1 Performance
In the last reported quarter, Ball Corp’s earnings and revenues increased year over year. While revenues beat the Zacks Consensus Estimate, earnings missed the same. BALL beat the Zacks Consensus Estimate in two of the trailing four quarters and missed twice, the average surprise being 0.02%.
Q2 Estimates
The Zacks Consensus Estimate for the first-quarter earnings per share is pegged at 90 cents, suggesting growth of 13.6% from the prior-year quarter’s levels. The estimates have moved down 2% over the past 30 days. The Zacks Consensus Estimate for total sales is pegged at $3.93 billion, indicating a year-over-year improvement of 13.6%.
Ball Corporation Price and EPS Surprise
Ball Corporation price-eps-surprise | Ball Corporation Quote
Factors to Note
Ball Corp provides key aluminum packaging products and services to consumer-oriented end markets, such as food and beverages, household and healthcare. Demand for these products has been robust on the increased at-home consumption. The company has been benefiting from the strong global beverage-can demand as consumers prefer cans over glass and plastic. These factors are likely to have favored the first-quarter performance. The company has been focused on improving its efficiency and reducing costs. These initiatives might have boosted the company’s margin in the to-be-reported quarter.
The Aerospace segment’s contracted backlog remained strong at $3.2 billion as of the end of the first quarter of 2022. Contracts won but not yet booked into backlog stood at $4.1 billion. Program execution remains at a high level across the business. The segment continues to win and provide mission-critical programs and technologies to the U.S. government, defense, intelligence, reconnaissance and surveillance customers. This is likely to get reflected in Ball Corp’s second-quarter top line.
High input and labor costs due to supply constraints might have impacted the company’s performance in the quarter. Higher-than-expected start-up costs stemming from capacity-expansion measures are likely to have dented performance. Ball Corp has been importing cans to meet demand until the ramp-up of its new plants, which might have led to higher freight costs. These factors are likely to have impacted its margins in the quarter to be reported.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Ball Corp this time around. The combination of a positive Earnings ESP, and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of a positive surprise. You can see the complete list of today’s Zacks #1 Rank stocks here.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: Ball Corp has an Earnings ESP of +0.03%.
Zacks Rank: Currently, the company carries a Zacks Rank #3.
Price Performance
Image Source: Zacks Investment Research
Shares of Ball Corp have fallen 9.8% in the past year compared with the industry's decline of 4.8%.
Other Stocks Worth a Look
Here are some other stocks worth considering, as these too have the right combination of elements to post an earnings beat in their upcoming releases:
MRC Global Inc. (MRC - Free Report) currently has an Earnings ESP of +10.35% and a Zacks Rank of 1. The Zacks Consensus Estimate for second-quarter 2022 earnings has moved up 45% in the past 30 days to 29 cents per share. The estimate suggests a year-over-year growth of 262%. MRC has a trailing four-quarter earnings surprise of 140.8%, on average.
The Zacks Consensus Estimate for MRC’s quarterly revenues is pegged at $847 million, which indicates an increase of 23.5% from the prior-year quarter’s levels.
Eaton (ETN - Free Report) currently has an Earnings ESP of +0.04% and a Zacks Rank of 3. The Zacks Consensus Estimate for second-quarter 2022 earnings is currently pegged at $1.82 per share, suggesting a 5.8% increase from the last-year quarter.
The Zacks Consensus Estimate for quarterly revenues stands at $5.23 billion, indicating year-over-year growth of 0.2%. ETN has a trailing four-quarter earnings surprise of 3.5%, on average.
Mueller Water Products (MWA - Free Report) currently has an Earnings ESP of +2.50% and a Zacks Rank #3. The Zacks Consensus Estimate for second-quarter 2022 earnings is currently at 20 cents per share. The estimate suggests an 11% year-on-year growth.
The Zacks Consensus Estimate for Mueller Water’s quarterly revenues is pegged at $334.6 million, which indicates a year-over-year improvement of 7.8%. MWA has a trailing four-quarter earnings surprise of 9.5%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.