Ball Corporation Up 2.33% To $48.70 After Earnings

Ball Corp (BALL) reported less than expected earnings this morning for Q3 2023.



Revenues were downbeat at $0.00. Keep in mind that the revenues reported were on an adjusted basis, so they may not be directly comparable to estimates and prior periods.

The stock is up 2.33% to $48.70 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Ball Corporation a Bullish Sentiment Rank from InvestorsObserver.

Ball Corporation has performed a little above average during the past few months. Before the report, Ball Corporation received a Long-Term Technical Rank by InvestorsObserver of 55, putting it in the top half of stocks. The firm was recently trading at a 52-week low of $42.81 on October 23, 2023 and set a 52-week high on February 2, 2023 at $62.14.

Ball is the world's largest metal can manufacturer with market share over 40% in its three main regions (North America, Europe, and South America). The company is focused on increasing capacity amid a wave of new developed-market demand, while also investing in faster-growing emerging-market economies. Ball maintains a small presence in the U.S. defense industry through its aerospace segment. Ball spun-off its glass jar business in 1993 and is now owned by Newell. The company reports four segments - beverage packaging, North and Central America (43% of revenue), beverage packaging, EMEA (25%), beverage packaging, South America (15%), aerospace (14%) - and it generated $13.8 billion in revenue in 2021.