This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Ball Corp. 2Q Profit Slips On Weakness In Can Unit

BROOMFIELD, Colo. (AP) â¿¿ Ball Corp. said Thursday that second-quarter profit slipped 2.5 percent on weaker results in its European metal drink-packaging business.

The company said it was still on track to hit its goal of increasing full-year adjusted earnings per share by 10 to 15 percent over 2011. That suggests 2012 earnings of $3 to $3.14 per share. Analysts expect $3.08.

Ball said new drink-can plants in China, Brazil and Vietnam would boost second-half results and offset flat business in the U.S. and the effects of changes in the value of the Euro.

One side of Ball's business makes cans for food and drinks. That business had lower operating earnings than a year ago, especially in its European metal-can division, where earnings before interest and taxes slid 22 percent to $65.7 million from $84.7 million on an 8.5 percent decline in sales.

The company has a smaller unit that makes satellites and instruments for aerospace customers. That side saw earnings before interest and taxes dip a more modest 7 percent.

Ball reported net income of $139.5 million, or 88 cents per share, down from $143.1 million, or 84 cents per share, in last year's second quarter. Per-share income rose because there were fewer shares than a year ago.

The company said excluding currency effects it would have earned 89 cents per share.

Revenue edged down to $2.30 billion from $2.31 billion.

Analysts surveyed by FactSet expected 87 cents per share on revenue of $2.34 billion.

Ball shares rose 28 cents to $40.81 in afternoon trading.
Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.99 0.00%
FB $101.11 1.60%
GOOG $678.11 0.00%
TSLA $151.85 2.40%
YHOO $26.82 0.00%


Chart of I:DJI
DOW 16,014.38 -12.67 -0.08%
S&P 500 1,852.21 -1.23 -0.07%
NASDAQ 4,268.7630 -14.99 -0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs