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Ball (BALL) Up 1.3% Since Last Earnings Report: Can It Continue?
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It has been about a month since the last earnings report for Ball (BALL - Free Report) . Shares have added about 1.3% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Ball due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
Ball Corp's Earnings Surpass Estimates in Q4, Increase 8% Y/Y
Ball has reported fourth-quarter 2024 adjusted earnings of 84 cents per share, beating the Zacks Consensus Estimate of 81 cents. The bottom line increased 8% year over year.
Ball Corp reported a loss from continuing operations of 1 cent per share compared with earnings from continuing operations of 32 cents per share in the year-ago quarter. On a reported basis, the company’s loss per share was 11 cents (including a loss of 10 cents per share pertaining to discontinued operations) against the prior-year quarter’s earnings of 49 cents.
Total sales were $2.88 billion, a 0.8% dip from $2.90 billion (the figure is exclusive of the company's divested aerospace business) in the year-ago quarter. The top line missed the Zacks Consensus Estimate of $2.98 billion.
BALL’s Q4 Operational Update
The cost of sales was $2.29 billion in fourth-quarter 2024, down 0.7% from the year-ago quarter. The gross profit totaled $591 million, down from the year-ago quarter’s $599 million. The gross margin was 20.5%, down from the prior-year quarter’s 20.6%.
Selling, general and administrative expenses rose 4.9% year over year to $129 million. Comparable segment operating earnings were $358 million, 0.8% lower than the prior-year quarter’s $361 million. The segment operating margin was 12.4%, flat year over year.
Ball Corp’s Segmental Performances in Q4
The Beverage packaging, North and Central America segment’s revenues decreased 6.5% year over year to $1.29 billion in the fourth quarter. Results have reflected lower volume and price/mix, favorably offset by the contractual pass-through of lower aluminum costs. Operating earnings amounted to $142 million, down 9% year over year.
Sales for the Beverage packaging, EMEA segment were $826 million in the quarter, up 11.8% year over year. The upside was due to a higher year-over-year volume. Operating earnings were $90 million, which marked a 12.5% year-over-year improvement.
The Beverage packaging, South America segment’s revenues were $563 million in the reported quarter, down 8.6% year over year. The segment witnessed lower year-over-year volume and lower price/mix. Operating earnings improved 0.8% to $126 million.
BALL’s Cash Flow & Debt Position
The company reported cash and cash equivalents of $885 million at the end of 2024, up from $695 million at the end of the prior year. Cash provided by operating activities amounted to $0.12 billion in 2024, down from the $1.86 billion reported last year.
The company’s long-term debt decreased to $5.31 billion at the end of 2024 from $7.50 billion at the end of 2023.
Ball Corp’s 2024 Performance
BALL has reported 2024 adjusted earnings of $3.17 per share, beating the Zacks Consensus Estimate of $3.15. The bottom line increased 9% year over year.
On a reported basis, the company’s earnings per share were $13.00 (including a $11.63 per share impact of discontinuing operations) compared with the prior year’s $2.23. BALL reported earnings from continuing operations of $1.37 in 2024 compared with $1.53 in 2023.
Total sales were $11.79 billion in 2024, down 2.2% from the prior year. The same missed the Zacks Consensus Estimate of $11.88 billion.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision have trended downward during the past month.
The consensus estimate has shifted -8.29% due to these changes.
VGM Scores
Currently, Ball has an average Growth Score of C, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a grade of B on the value side, putting it in the top 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Ball has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
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Ball (BALL) Up 1.3% Since Last Earnings Report: Can It Continue?
It has been about a month since the last earnings report for Ball (BALL - Free Report) . Shares have added about 1.3% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Ball due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
Ball Corp's Earnings Surpass Estimates in Q4, Increase 8% Y/Y
Ball has reported fourth-quarter 2024 adjusted earnings of 84 cents per share, beating the Zacks Consensus Estimate of 81 cents. The bottom line increased 8% year over year.
Ball Corp reported a loss from continuing operations of 1 cent per share compared with earnings from continuing operations of 32 cents per share in the year-ago quarter. On a reported basis, the company’s loss per share was 11 cents (including a loss of 10 cents per share pertaining to discontinued operations) against the prior-year quarter’s earnings of 49 cents.
Total sales were $2.88 billion, a 0.8% dip from $2.90 billion (the figure is exclusive of the company's divested aerospace business) in the year-ago quarter. The top line missed the Zacks Consensus Estimate of $2.98 billion.
BALL’s Q4 Operational Update
The cost of sales was $2.29 billion in fourth-quarter 2024, down 0.7% from the year-ago quarter. The gross profit totaled $591 million, down from the year-ago quarter’s $599 million. The gross margin was 20.5%, down from the prior-year quarter’s 20.6%.
Selling, general and administrative expenses rose 4.9% year over year to $129 million. Comparable segment operating earnings were $358 million, 0.8% lower than the prior-year quarter’s $361 million. The segment operating margin was 12.4%, flat year over year.
Ball Corp’s Segmental Performances in Q4
The Beverage packaging, North and Central America segment’s revenues decreased 6.5% year over year to $1.29 billion in the fourth quarter. Results have reflected lower volume and price/mix, favorably offset by the contractual pass-through of lower aluminum costs. Operating earnings amounted to $142 million, down 9% year over year.
Sales for the Beverage packaging, EMEA segment were $826 million in the quarter, up 11.8% year over year. The upside was due to a higher year-over-year volume. Operating earnings were $90 million, which marked a 12.5% year-over-year improvement.
The Beverage packaging, South America segment’s revenues were $563 million in the reported quarter, down 8.6% year over year. The segment witnessed lower year-over-year volume and lower price/mix. Operating earnings improved 0.8% to $126 million.
BALL’s Cash Flow & Debt Position
The company reported cash and cash equivalents of $885 million at the end of 2024, up from $695 million at the end of the prior year. Cash provided by operating activities amounted to $0.12 billion in 2024, down from the $1.86 billion reported last year.
The company’s long-term debt decreased to $5.31 billion at the end of 2024 from $7.50 billion at the end of 2023.
Ball Corp’s 2024 Performance
BALL has reported 2024 adjusted earnings of $3.17 per share, beating the Zacks Consensus Estimate of $3.15. The bottom line increased 9% year over year.
On a reported basis, the company’s earnings per share were $13.00 (including a $11.63 per share impact of discontinuing operations) compared with the prior year’s $2.23. BALL reported earnings from continuing operations of $1.37 in 2024 compared with $1.53 in 2023.
Total sales were $11.79 billion in 2024, down 2.2% from the prior year. The same missed the Zacks Consensus Estimate of $11.88 billion.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision have trended downward during the past month.
The consensus estimate has shifted -8.29% due to these changes.
VGM Scores
Currently, Ball has an average Growth Score of C, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a grade of B on the value side, putting it in the top 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Ball has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.