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Ball Corp. Q3 profit falls YOY

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According to Market Intelligence, December 2022

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Ball Corp. Q3 profit falls YOY

Ball Corp. said its normalized net income for the third quarter came to 41 cents per share, compared with the S&P Capital IQ consensus estimate of 48 cents per share.

EPS decreased 5.9% year over year from 43 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $114.8 million, a decline of 6.7% from $123.0 million in the year-earlier period.

The normalized profit margin dropped to 5.4% from 5.5% in the year-earlier period.

Total revenue fell 6.3% year over year to $2.10 billion from $2.24 billion, and total operating expenses decreased 6.6% year over year to $1.87 billion from $2.00 billion.

Reported net income decreased 69.5% on an annual basis to $45.1 million, or 16 cents per share, from $147.8 million, or 52 cents per share.