Ball Corp's (BLL) Earnings Beat, Sales Trail Estimates In Q4
Zacks Investment Research | Feb 05, 2020 10:03PM ET
Ball Corporation (NYSE:BLL) reported fourth-quarter 2019 adjusted earnings of 71 cents per share, beating the Zacks Consensus Estimate of 68 cents. The reported figure improved 29% on a year-over-year basis.
On a reported basis, the company posted earnings of 48 cents per share compared with 44 cents in the prior-year quarter.
Total sales came in at $2,719 million in the reported quarter, down from $2,803 million in the year-ago quarter. The top line missed the Zacks Consensus Estimate of $2,887 million.
The fourth-quarter results reflect the 2019 sale of the company's Argentine steel aerosol business and Chinese beverage can assets, and the 2018 sale of the company's U.S. steel food and steel aerosol business.
Operational Update
Cost of sales declined to $2,159 million from $2,246 million the year-ago quarter. Gross profit was up $560 million from the year-ago quarter’s $557 million. Gross margin came in at 20.5% during the fourth quarter compared with the prior-year quarter figure of 19.8%.
Selling, general and administrative expenses fell 29.3% year over year to $89 million. Adjusted operating income increased 14% to $340 million from the year-ago quarter figure of $298 million. The company reported operating margin of 12.5% compared with 10.6% in the year-ago comparable period.
Ball Corporation Price, Consensus and EPS Surprise
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