Ball Corporation BALL has reported fourth-quarter 2024 adjusted earnings of 84 cents per share, beating the Zacks Consensus Estimate of 81 cents. The bottom line increased 8% year over year.
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Ball Corp reported a loss from continuing operations of 1 cent per share compared with earnings from continuing operations of 32 cents per share in the year-ago quarter. On a reported basis, the company’s loss per share was 11 cents (including a loss of 10 cents per share pertaining to discontinued operations) against the prior-year quarter’s earnings of 49 cents.
Ball Corporation Price, Consensus and EPS Surprise
Ball Corporation price-consensus-eps-surprise-chart | Ball Corporation Quote
Total sales were $2.88 billion, a 0.8% dip from $2.90 billion (the figure is exclusive of the company's divested aerospace business) in the year-ago quarter. The top line missed the Zacks Consensus Estimate of $2.98 billion.
BALL’s Q4 Operational Update
The cost of sales was $2.29 billion in fourth-quarter 2024, down 0.7% from the year-ago quarter. The gross profit totaled $591 million, down from the year-ago quarter’s $599 million. The gross margin was 20.5%, down from the prior-year quarter’s 20.6%.
Selling, general and administrative expenses rose 4.9% year over year to $129 million. Comparable segment operating earnings were $358 million, 0.8% lower than the prior-year quarter’s $361 million. The segment operating margin was 12.4%, flat year over year.
Ball Corp’s Segmental Performances in Q4
The Beverage packaging, North and Central America segment’s revenues decreased 6.5% year over year to $1.29 billion in the fourth quarter. Results have reflected lower volume and price/mix, favorably offset by the contractual pass-through of lower aluminum costs. We predicted sales of $1.44 billion. Operating earnings amounted to $142 million, down 9% year over year. Our estimate for the segment's operating earnings was $211 million.
Sales for the Beverage packaging, EMEA segment were $826 million in the quarter, up 11.8% year over year. The upside was due to a higher year-over-year volume. The reported figure surpassed our sales estimate of $711 million. Operating earnings were $90 million, which marked a 12.5% year-over-year improvement. We had projected operating earnings of $103 million.
The Beverage packaging, South America segment’s revenues were $563 million in the reported quarter, down 8.6% year over year. The segment witnessed lower year-over-year volume and lower price/mix. Our projection for the segment’s sales was $665 million. Operating earnings improved 0.8% to $126 million. The reported figure missed our estimate of $164 million.
BALL’s Cash Flow & Debt Position
The company reported cash and cash equivalents of $885 million at the end of 2024, up from $695 million at the end of the prior year. Cash provided by operating activities amounted to $0.12 billion in 2024, down from the $1.86 billion reported last year.
The company’s long-term debt decreased to $5.31 billion at the end of 2024 from $7.50 billion at the end of 2023.
Ball Corp’s 2024 Performance
BALL has reported 2024 adjusted earnings of $3.17 per share, beating the Zacks Consensus Estimate of $3.15. The bottom line increased 9% year over year.
On a reported basis, the company’s earnings per share were $13.00 (including a $11.63 per share impact of discontinuing operations) compared with the prior year’s $2.23. BALL reported earnings from continuing operations of $1.37 in 2024 compared with $1.53 in 2023.
Total sales were $11.79 billion in 2024, down 2.2% from the prior year. The same missed the Zacks Consensus Estimate of $11.88 billion.
BALL Stock’s Price Performance
The company’s shares have lost 3.5% in the past year against the industry's 2.1% growth.
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Performances of Ball Corp’s Peer in Q4
Silgan Holdings SLGN reported a record fourth-quarter adjusted EPS of 85 cents, which beat the Zacks Consensus Estimate of 82 cents. This marked a 35% increase from earnings of 63 cents per share a year ago.
Silgan’s fourth-quarter revenues rose 5% year over year to $1.41 billion, surpassing the Zacks Consensus of $1.39 billion. The improvement was attributed to the contribution from the acquisition of Weener Packaging in the Dispensing and Specialty Closures segment, partially offset by a less favorable mix in the Metal Containers segment.
Containers - Metal & Glass Stock Awaiting Results
Crown Holdings, Inc. CCK, scheduled to release fourth-quarter 2024 results on Feb. 5, has a trailing four-quarter average surprise of 4.3%. The Zacks Consensus Estimate for CCK’s fourth-quarter 2024 earnings is pegged at $1.52 per share, implying year-over-year growth of 22.6%.
The consensus estimate for the company’s top line is pegged at $2.92 billion, indicating a rise of 2.1% from the prior-year reported figure.
BALL’s Zacks Rank & Stock to Consider
Ball Corp currently carries a Zacks Rank #3 (Hold).
A better-ranked stock from the Industrial Products sector is Graham Corporation GHM. GHM sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks here.
Graham delivered an average trailing four-quarter earnings surprise of 101.85%. The Zacks Consensus Estimate for GHM’s 2024 earnings is pinned at $1.03 per share, which indicates a year-over-year surge of 145.2%. The company’s shares have skyrocketed 105.1% in a year.
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