Yahoo Finance Ball (BALL) Q2 Earnings: What To Expect
Packaging manufacturer Ball (NYSE:BLL) will be reporting earnings tomorrow before market hours. Here's what to expect.
Ball missed analysts' revenue expectations by 8.8% last quarter, reporting revenues of $2.87 billion, down 17.6% year on year. It was a strong quarter for the company, with an impressive beat of analysts' earnings estimates and a solid beat of analysts' organic revenue estimates.
Is Ball a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Ball's revenue to decline 13.1% year on year to $3.10 billion, in line with the 13.7% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.70 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Ball has missed Wall Street's revenue estimates six times over the last two years.
Looking at Ball's peers in the industrial packaging segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Avery Dennison delivered year-on-year revenue growth of 6.9%, beating analysts' expectations by 1.9%, and Packaging Corporation of America reported revenues up 6.3%, topping estimates by 2.5%. Avery Dennison traded down 4.3% following the results while Packaging Corporation of America's stock price was unchanged.
Read our full analysis of Avery Dennison's results here and Packaging Corporation of America's results here.
There has been positive sentiment among investors in the industrial packaging segment, with share prices up 9.4% on average over the last month. Ball is up 5.9% during the same time and is heading into earnings with an average analyst price target of $70.8 (compared to the current share price of $63.25).
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