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Ball Corp. profit misses consensus by 27.5% in Q1

Ball Corp. said its first-quarter normalized net income amounted to 29 cents per share, compared with the S&P Capital IQ consensus estimate of 40 cents per share.

EPS decreased 16.4% year over year from 34 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $80.8 million, a decline of 18.1% from $98.6 million in the year-earlier period.

The normalized profit margin declined to 4.2% from 4.9% in the year-earlier period.

Total revenue fell on an annual basis to $1.92 billion from $2.01 billion, and total operating expenses fell from the prior-year period to $1.75 billion from $1.79 billion.

Reported net income declined 77.4% year over year to $21.2 million, or 8 cents per share, from $93.6 million, or 33 cents per share.