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Ball Corp. profit misses consensus by 16.9% in Q2

Ball Corp. said its normalized net income for the second quarter was 39 cents per share, compared with the S&P Capital IQ consensus estimate of 47 cents per share.

EPS decreased 18.4% year over year from 48 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $110.5 million, a decrease of 19.2% from $136.7 million in the prior-year period.

The normalized profit margin fell to 5.2% from 6.0% in the year-earlier period.

Total revenue fell 5.2% on an annual basis to $2.17 billion from $2.29 billion, and total operating expenses fell from the prior-year period to $1.96 billion from $2.03 billion.

Reported net income grew year over year to $159.9 million, or 56 cents per share, from $152.9 million, or 54 cents per share.