Ball's Second-Quarter Earnings Beat Estimates
Analysts at Baird Raise Next Year's Earnings Target
Ball Corporation's strong financial performance continues
Ball Corporation (NYSE: BALL) reported second-quarter earnings that beat analysts' estimates on Wednesday. The packaging company also raised its full-year earnings guidance.
Key highlights of the earnings report include:
- Adjusted earnings per share of $0.90, beating the consensus estimate of $0.87
- Revenue of $4.3 billion, in line with expectations
- Full-year adjusted EPS guidance raised to a range of $3.40 to $3.60, from a previous range of $3.30 to $3.50
Analysts at Baird were impressed with Ball's results and raised their earnings target for next year. They now see Ball earning $4.00 per share in 2024, up from their previous estimate of $3.80.
Ball's strong performance is being driven by demand for its aluminum cans and other packaging products. The company is also benefiting from cost-cutting measures.
Ball's stock price was up 2% in premarket trading on Wednesday.
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