Ball Corporation (NYSE:BLL) is one of the world’s leading suppliers of metal packaging to the beverage, food, personal care and household products industries. The company delivered adjusted earnings of 56 cents per share in third-quarter 2018. Earnings missed the Zacks Consensus Estimate of 60 cents.
Revenue: Ball Corporation beat revenues in the third quarter. The company posted revenues of $2.9 billion, which surpassed the Zacks Consensus Estimate for revenues of $2.8 billion.
Outlook: Ball Corporation expects its free cash flow will be around $800 million and capital spending will be in excess of $700 million. Notably, Ball Corporation reaffirms that its comparable EBITDA will be $2 billion and free cash flow will be in excess of $1 billion in 2019.
Estimate Trend & Surprise History: You should note that the earnings estimate revisions for Ball Corporation went up around 1.7% over the past 30 days. The Zacks Consensus Estimate currently stands at 60 cents for the third quarter.
As regards earnings surprise, Ball Corporation has outpaced the Zacks Consensus Estimate in two of the past four quarters, with an average positive beat of 3.66%.
Zacks Rank: Currently Ball Corporation has a Zacks Rank #3 (Hold). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Market Reaction: Ball Corporation’s shares remained flat in pre-market trading following the release, at the time of this write-up.
Check back later for our full write up on this Ball Corporation earnings report later!
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Ball Corporation (BLL): Free Stock Analysis Report
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