Ball Corporation


SKU: BALL Category:


Ball Corporation delivered a mixed result in the recent quarter, with revenues below market expectations but surpassed the analyst consensus regarding earnings. In the third quarter, they improved operational efficiencies and successful measures to counter inflationary costs. Despite challenges from tough year-over-year volume comparisons, the team offset these with benefits from cost-out initiatives and a reduced effective tax rate. Notably, they navigated through a $14 million operating earnings headwind from the Russian sale and $43 million higher interest expense. The impact of the ongoing disruption in the US beer market and past regional customer mix decisions was evident in Ball’s volume performance, with global shipments down 3% but showing a sequential improvement from the previous quarter. Looking ahead, Ball’s strategic actions include tightening domestic supply-demand dynamics, cost reduction, operational efficiency enhancement, and leveraging the sustainability features of its aluminum packaging portfolio. The announced sale of the aerospace business aims to unlock value, strengthen the balance sheet, and return substantial value to shareholders through repurchases and dividends. Ball’s team anticipates growing comparable diluted EPS in the low to mid-single digits in 2023, aligning with current end-consumer demand expectations in EMEA and North America.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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