Ball Corp. (BLL) Misses Q2 EPS by 1c, Revenues Beat

Ball Corp. (NYSE: BLL) reported Q2 EPS of $0.58, $0.01 worse than the analyst estimate of $0.59. Revenue for the quarter came in at $3.1 billion versus the consensus estimate of $3.01 billion.

"Positive momentum in our businesses continues. Our improved second quarter results were driven by excellent operational performance, solid global demand for environmentally friendly aluminum packaging, achieving more value for our innovative packages and lower corporate costs. Anticipated start-up costs, out-of-pattern freight and declines in our U.S. beverage can volumes, as well as the short-term impact from the Brazilian truckers\' strike, were effectively managed by the respective businesses during the quarter and we expect that these issues should moderate in the second half," said John A. Hayes, chairman, president and chief executive officer.

"Our global team continues to execute. We successfully ramped up production at two new beverage can facilities during the quarter, advanced progress on network optimization projects to align our beverage can portfolio in the U.S. and Brazil, and our aerospace business continued to secure additional contracts to further grow our contracted backlog. With this momentum and the proceeds from the U.S. steel food and steel aerosol asset sale, we are expanding the 2018 return of capital to our shareholders via share repurchases and dividends to be in excess of $800 million. In addition, we continue to reaffirm our financial goals of $2 billion of comparable EBITDA and in excess of $1 billion of free cash flow in 2019."

For earnings history and earnings-related data on Ball Corp. (BLL) click here.

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