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Ball Corp. profit misses consensus by 46.2% in Q3

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Ball Corp. profit misses consensus by 46.2% in Q3

Ball Corp. said its normalized net income for the third quarter amounted to 31 cents per share, compared with the S&P Capital IQ consensus estimate of 58 cents per share.

EPS declined year over year from 32 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $111.4 million, a decline from $112.6 million in the prior-year period.

The normalized profit margin dropped to 3.8% from 4.1% in the year-earlier period.

Total revenue rose 5.7% on an annual basis to $2.91 billion from $2.75 billion, and total operating expenses grew 6.4% on an annual basis to $2.63 billion from $2.47 billion.

Reported net income grew 45.7% year over year to $46.6 million, or 13 cents per share, from $32.0 million, or 9 cents per share.