Ball Corp. Earns 69 Cents per Share

Ball Corp. (BLL) reported Q1 earnings of 69 cents per share. That was 10 cents below estimates, but the results aren’t quite as bad as they sound. Ball beat on the top line ($1.92 billion versus $1.9 billion). The company also lost 16 cents per share due to currency costs. Ball also reiterated that they expect full-year free cash flow of $600 million.

Ball’s CEO said, “First quarter results were largely impacted by expected headwinds totaling 16 cents per diluted share from foreign currency translation, higher metal premiums in Europe, and start-up costs related to growth capital investments. We continue to invest in our future with ongoing capital projects in North America, Europe and Southeast Asia that will fully ramp up in the second half of 2015 and the first half of 2016.”

The CFO added, “Operationally, our first quarter results were largely in line with our expectations. While metal premiums and start-up costs will persist in the second quarter, and currency translation will remain a headwind for the balance of the year, our business remains solid.”

Posted by on April 30th, 2015 at 8:49 am

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