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Ball Corp. profit misses consensus by 40.0% in Q2

Ball Corp. said its normalized net income for the second quarter came to 33 cents per share, compared with the S&P Capital IQ consensus estimate of 55 cents per share.

EPS decreased 25.3% year over year from 44 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $117.8 million, a decrease of 7.6% from $127.5 million in the prior-year period.

The normalized profit margin dropped to 4.1% from 6.3% in the year-earlier period.

Total revenue grew 40.6% year over year to $2.85 billion from $2.03 billion, and total operating expenses climbed 45.5% from the prior-year period to $2.59 billion from $1.78 billion.

Reported net income declined 67.4% year over year to $100.5 million, or 28 cents per share, from $307.9 million, or $1.06 per share.