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Ball Corp. Q2 profit climbs 13.4% YOY

Ball Corp. said its normalized net income for the second quarter amounted to 44 cents per share, compared with the S&P Capital IQ consensus estimate of 50 cents per share.

EPS rose 10.5% year over year from 40 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $126.9 million, an increase of 13.4% from $111.9 million in the year-earlier period.

The normalized profit margin climbed to 6.3% from 5.2% in the year-earlier period.

Total revenue decreased 6.5% on an annual basis to $2.03 billion from $2.17 billion, and total operating expenses declined 9.4% on an annual basis to $1.78 billion from $1.96 billion.

Reported net income increased 111.6% from the prior-year period to $338.4 million, or $1.17 per share, from $159.9 million, or 56 cents per share.