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How Did Ball Corporation’s 3Q16 Results Turn Out?

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Nov. 8 2016, Updated 8:05 a.m. ET

Price movement

Ball Corporation (BLL) fell 0.80% to close at $76.48 per share during the first week of November 2016. The stock’s weekly, monthly, and year-to-date (or YTD) price movements were -0.80%, -3.9%, and 5.7%, respectively, as of November 4.

BLL is trading 3.1% below its 20-day moving average, 3.4% below its 50-day moving average, and 4.5% above its 200-day moving average.

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Related ETF and peers

The Vanguard Mid-Cap ETF (VO) invests 0.33% of its holdings in Ball Corporation. The ETF tracks the CRSP US Mid-Cap Index, a diversified index of mid-cap US companies. The YTD price movement of VO was 3.4% on November 4.

The market caps of Ball’s competitors are as follows:

  • Boeing (BA) — $86.6 billion
  • Alcoa (AA) — $11.1 billion
  • Crown Holdings (CCK) — $7.4 billion

Performance of Ball Corporation in 3Q16

Ball Corporation reported 3Q16 net sales of $2.8 billion, a rise of 33.3% compared to net sales of $2.1 billion in 3Q15. Sales in its Beverage Packaging of North and Central America, Beverage Packaging of Europe, and Beverage Packaging of South America segments rose 31.5%, 52.7%, and 137.3%, respectively, and sales of the Food and Aerosol Packaging segment fell 11.6% in 3Q16 compared to 3Q15. The company’s EBIT (earnings before interest and tax) margin rose 50 basis points in 3Q16 compared to the prior year’s period.

Its net income and EPS (earnings per share) fell to $0 million and $0.00, respectively, in 3Q16, compared to $45.0 million and $0.32, respectively, in 3Q15. It reported adjusted EPS of $0.96 in 3Q16, a fall of 12.7% compared to 3Q15.

Ball’s cash and cash equivalents and net inventories rose 164.3% and 61.9%, respectively, in 3Q16, compared to 3Q15. Its current ratio rose to 1.4x, and its long-term debt-to-equity ratio fell to 2.0x in 3Q16, compared to 1.0x and 2.3x, respectively, in 3Q15.

Quarterly dividend

Ball Corporation has declared a quarterly cash dividend of $0.13 per share on its common stock. The dividend will be paid on December 15, 2016, to shareholders on record as of December 1, 2016.

Next, we’ll discuss Avon Products (AVP).

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