Published on 26 Apr 2024 on Zacks via Yahoo Finance
Ball Corp (BALL) Tops on Q1 Earnings, Completes Aerospace Sale
Ball Corporation BALL has reported first-quarter 2024 adjusted earnings of 68 cents per share, beating the Zacks Consensus Estimate of 56 cents.The bottom line declined 1% year over year. The downside was driven by lower volumes across most segments.On a reported basis, the company’s earnings per share were $11.61 compared with the prior-year quarter’s 56 cents. The figure is inclusive of gains from aerospace sales. During the quarter, Ball Cop completed the previously announced sale of its aerospace business for $5.6 billion to BAE Systems, Inc.Total sales were $2.87 billion in the reported quarter compared with $2.98 billion (the figure is exclusive of the company's former aerospace business) in the year-ago quarter. The top line missed the Zacks Consensus Estimate of $3.18 billion. Global beverage can shipments moved up 3.7%.
Ball Corporation Price, Consensus and EPS Surprise