Earnings To Watch: Ball (BALL) Reports Q3 Results Tomorrow
Packaging manufacturer Ball (NYSE:BLL) will be reporting results tomorrow before the bell. Here’s what you need to know.
Ball missed analysts’ revenue expectations by 4.5% last quarter, reporting revenues of $2.96 billion, down 17% year on year. It was a slower quarter for the company, with a miss of analysts’ organic revenue estimates.
Is Ball a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Ball’s revenue to decline 12.3% year on year to $3.13 billion, a further deceleration from the 9.6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.86 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
Looking at Ball’s peers in the industrial packaging segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Packaging Corporation of America delivered year-on-year revenue growth of 12.7%, beating analysts’ expectations by 4.4%, and Crown Holdings reported flat revenue, in line with consensus estimates. Packaging Corporation of America traded up 5.4% following the results while Crown Holdings was also up 4.2%.
Read our full analysis of Packaging Corporation of America’s results here and Crown Holdings’s results here.
Investors in the industrial packaging segment have had steady hands going into earnings, with share prices flat over the last month. Ball is down 6.4% during the same time and is heading into earnings with an average analyst price target of $70.30 (compared to the current share price of $63.29).
Unless you’ve been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefitting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story.
