Ball Corporation BLL is one of the world’s leading suppliers of metal packaging to the beverage, food, personal care and household products industries. It also supplies aerospace and other technologies and services to government and commercial customers.
Ball Corporation will gain from Rexam acquisition which will help to simplify and streamline its business and is deliver over $300 million in synergies by the end of 2019. Recently, Ball Corporation entered into an agreement to sell its specialty tin manufacturing facility in Baltimore, MD, to U.S.-based Independent Can Company for around $25 million. This divestiture will help it to focus on maximizing value and generating positive EVA dollars in its core businesses. The deal will also enable the company to better align with its strategic focus on food and aerosol packaging. Meanwhile, it will also benefit from multiple growth capital projects ramping up in the remainder of 2016 and beyond.
Let’s have a quick look at the third-quarter 2016 earnings release of the company.
Estimate Trend & Surprise History
You should note that the earnings estimate revisions for Ball Corporation depicted a neutral stance prior to the earnings release. The Zacks Consensus Estimate has remained stable over the last 30 days and currently stands at 92 cents for the first quarter.
Coming to earnings surprise history, Ball Corporation beat the Zacks Consensus Estimate in 3 out of the trailing 4 quarters with an average positive earnings surprise of around 3.51%.
BALL CORP Price and EPS Surprise
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