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In the last reported quarter, Ball Corp’s earnings and revenues declined year over year. While earnings beat the Zacks Consensus Estimate, revenues missed the same. BALL missed the Zacks Consensus Estimate in two of the four trailing quarters and topped in the other two, the average surprise being 6.1%.
The Zacks Consensus Estimate for BALL’s third-quarter earnings per share is pegged at 82 cents, suggesting an improvement of 9.3% from the prior-year quarter’s reported levels. The Zacks Consensus Estimate for total sales is pegged at $3.9 billion, indicating a year-over-year decline of 1.8%.
Factors to Note
Ball Corp has lately been witnessing weaker-than-expected demand, as customer spending has been muted amid higher retail prices, particularly in the United States. This is likely to get reflected in the company’s third-quarter results. High input and labor costs due to supply constraints are anticipated to have impacted the company’s performance in the quarter.
However, BALL has been focused on improving its efficiency and reducing costs, which is likely to have negated these impacts and aided margins in the to-be-reported quarter.
Our estimate for the Beverage packaging, North and Central America segment’s net sales is pegged at $1,738 million for the September-end quarter, indicating a 3.4% year-over-year decline. The segment’s operating income is estimated at $193 million, suggesting a fall of 5.7% from the prior-year quarter’s actual.
The segment’s performance is expected to have been impacted by the weakness in demand, and inflated raw material and manufacturing costs. We expect the segment’s volume to fall 0.5% in the quarter, backed by the execution of strategic initiatives.
The Beverage Packaging, EMEA segment’s third-quarter 2023 results will likely reflect the impacts of higher inflation, energy costs and supply-chain disruptions across the region.
Our model predicts the Beverage Packaging, Europe segment’s sales to be $989 million for the to-be-reported quarter, indicating a 4.1% drop from the prior-year quarter’s reported figure.
However, the focus on reducing costs will help partially negate these headwinds. The segment’s operating income is projected at $108 million, suggesting 31.7% year-over-year growth. We expect volume growth of 6.1% for this segment.
We expect the Beverage Packaging, South America segment’s net sales to be $466 million, suggesting a 0.1% fall from the year-ago period’s reported level. The consensus estimate for the segment’s operating income is pegged at $42 million, suggesting a 37% decline from the prior-year quarter’s reported level. Our model predicts a volume increase of 9% for the segment.
Our estimate for the Aerospace segment's revenues is pegged at $496 million for the period under discussion, indicating a year-over-year improvement of 3.9%. The segment has been winning defense, climate change and Earth-monitoring contracts to provide mission-critical programs and technologies to the U.S. government, defense, intelligence, reconnaissance and surveillance customers.
However, the segment is expected to have witnessed the impacts of supply-chain inefficiencies. The segment’s operating income is projected at $53 million, suggesting 12% growth from the prior-year quarter’s reported figure.
What the Zacks Model Unveils
Our proven model does not conclusively predict 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 chances of an earnings beat.
You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Earnings ESP: BALL has an Earnings ESP of -0.41%.
Zacks Rank: Currently, the company carries a Zacks Rank of 4 (Sell).
Price Performance
Shares of Ball Corp have fallen 3.3% in the past year against the industry's 0.4% growth.
Image Source: Zacks Investment Research
Stocks to Consider
Here are some Industrial Products stocks worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases.
The Zacks Consensus Estimate for KUBTY’s earnings for the third quarter is pegged at $1.19 per share. The consensus estimate for earnings has moved 2% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 12.7%.
ESAB Corporation (ESAB - Free Report) , scheduled to release earnings on Nov 1, has an Earnings ESP of +1.09% and a Zacks Rank of 3 at present.
The Zacks Consensus Estimate for ESAB’s third-quarter earnings is pegged at 92 cents per share. Earnings estimates have been unchanged in the past 60 days. It has an average trailing four-quarter earnings surprise of 13.6%.
Ingersoll Rand Inc. (IR - Free Report) , expected to release earnings on Nov 1, has an Earnings ESP of +0.36%. IR currently carries a Zacks Rank of 3.
The consensus estimate for Ingersoll Rand’s earnings for the third quarter is pegged at 70 cents per share. Earnings estimates have been unchanged in the past 60 days. It has an average trailing four-quarter earnings surprise of 14.9%.
Image: Bigstock
Ball Corp (BALL) to Report Q3 Earnings: What's in Store?
Ball Corporation (BALL - Free Report) is scheduled to report third-quarter 2023 results on Nov 2, before the opening bell.
Q2 Performance
In the last reported quarter, Ball Corp’s earnings and revenues declined year over year. While earnings beat the Zacks Consensus Estimate, revenues missed the same. BALL missed the Zacks Consensus Estimate in two of the four trailing quarters and topped in the other two, the average surprise being 6.1%.
Ball Corporation Price and EPS Surprise
Ball Corporation price-eps-surprise | Ball Corporation Quote
Q3 Estimates
The Zacks Consensus Estimate for BALL’s third-quarter earnings per share is pegged at 82 cents, suggesting an improvement of 9.3% from the prior-year quarter’s reported levels. The Zacks Consensus Estimate for total sales is pegged at $3.9 billion, indicating a year-over-year decline of 1.8%.
Factors to Note
Ball Corp has lately been witnessing weaker-than-expected demand, as customer spending has been muted amid higher retail prices, particularly in the United States. This is likely to get reflected in the company’s third-quarter results. High input and labor costs due to supply constraints are anticipated to have impacted the company’s performance in the quarter.
However, BALL has been focused on improving its efficiency and reducing costs, which is likely to have negated these impacts and aided margins in the to-be-reported quarter.
Our estimate for the Beverage packaging, North and Central America segment’s net sales is pegged at $1,738 million for the September-end quarter, indicating a 3.4% year-over-year decline. The segment’s operating income is estimated at $193 million, suggesting a fall of 5.7% from the prior-year quarter’s actual.
The segment’s performance is expected to have been impacted by the weakness in demand, and inflated raw material and manufacturing costs. We expect the segment’s volume to fall 0.5% in the quarter, backed by the execution of strategic initiatives.
The Beverage Packaging, EMEA segment’s third-quarter 2023 results will likely reflect the impacts of higher inflation, energy costs and supply-chain disruptions across the region.
Our model predicts the Beverage Packaging, Europe segment’s sales to be $989 million for the to-be-reported quarter, indicating a 4.1% drop from the prior-year quarter’s reported figure.
However, the focus on reducing costs will help partially negate these headwinds. The segment’s operating income is projected at $108 million, suggesting 31.7% year-over-year growth. We expect volume growth of 6.1% for this segment.
We expect the Beverage Packaging, South America segment’s net sales to be $466 million, suggesting a 0.1% fall from the year-ago period’s reported level. The consensus estimate for the segment’s operating income is pegged at $42 million, suggesting a 37% decline from the prior-year quarter’s reported level. Our model predicts a volume increase of 9% for the segment.
Our estimate for the Aerospace segment's revenues is pegged at $496 million for the period under discussion, indicating a year-over-year improvement of 3.9%. The segment has been winning defense, climate change and Earth-monitoring contracts to provide mission-critical programs and technologies to the U.S. government, defense, intelligence, reconnaissance and surveillance customers.
However, the segment is expected to have witnessed the impacts of supply-chain inefficiencies. The segment’s operating income is projected at $53 million, suggesting 12% growth from the prior-year quarter’s reported figure.
What the Zacks Model Unveils
Our proven model does not conclusively predict 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 chances of an earnings beat.
You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Earnings ESP: BALL has an Earnings ESP of -0.41%.
Zacks Rank: Currently, the company carries a Zacks Rank of 4 (Sell).
Price Performance
Shares of Ball Corp have fallen 3.3% in the past year against the industry's 0.4% growth.
Image Source: Zacks Investment Research
Stocks to Consider
Here are some Industrial Products stocks worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases.
Kubota Corporation (KUBTY - Free Report) , expected to release earnings on Nov 8, has an Earnings ESP of +4.20% and sports a Zacks Rank of 1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for KUBTY’s earnings for the third quarter is pegged at $1.19 per share. The consensus estimate for earnings has moved 2% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 12.7%.
ESAB Corporation (ESAB - Free Report) , scheduled to release earnings on Nov 1, has an Earnings ESP of +1.09% and a Zacks Rank of 3 at present.
The Zacks Consensus Estimate for ESAB’s third-quarter earnings is pegged at 92 cents per share. Earnings estimates have been unchanged in the past 60 days. It has an average trailing four-quarter earnings surprise of 13.6%.
Ingersoll Rand Inc. (IR - Free Report) , expected to release earnings on Nov 1, has an Earnings ESP of +0.36%. IR currently carries a Zacks Rank of 3.
The consensus estimate for Ingersoll Rand’s earnings for the third quarter is pegged at 70 cents per share. Earnings estimates have been unchanged in the past 60 days. It has an average trailing four-quarter earnings surprise of 14.9%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.