Free Research Report as Ball’s Quarterly Sales Climbed 9% and Comparable EPS Surged 36%
Stock Monitor: Veritiv Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 06, 2018 / Active-Investors.com has just released a free earnings report on Ball Corp. (NYSE: BLL). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=BLL. The Company reported its fourth quarter fiscal 2017 and full fiscal year 2017 operating and financial results on February 07, 2018. The metal packaging Company surpassed top- and bottom-line expectations. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Ball most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
For Q4 2017, Ball reported sales of $2.75 billion, up 9% compared to $2.52 billion in Q4 2016. The Company's revenue numbers topped analysts' estimates of $2.66 billion.
For Q4 2017, Ball's net earnings attributable to common shareholders were $184 million, or $0.52 per diluted share, on a US GAAP basis compared to $52 million, or $0.15 per diluted share, in Q4 2016.
The Company's comparable net earnings were $213 million, or $0.60 per diluted share, in Q4 2017 compared to $155 million, or $0.44 per diluted share, in Q4 2016. The Company's earnings per share (EPS) figures include the impact of its two-for-one stock split, effective May 16, 2017. The Company's EPS also beat Wall Street's estimates of $0.52.
For FY17, Ball recorded sales of $10.98 billion compared to $9.06 billion in FY16, reflecting an increase of 21%.
For FY17, Ball reported GAAP net earnings attributable to common shareholders of $399 million, or $1.12 per diluted share, including the net effect of after-tax charges of $0.92 per diluted share for the US Tax Cuts and Jobs Act 2017 (TCJA), business consolidation, and other non-comparable costs, compared to a net income of $263 million, or $0.81 per diluted share, including the net effect of after-tax charges of $0. 93 per diluted share for business consolidation, debt refinancing, and other non-comparable costs, in FY16.
Ball's comparable net earnings were $728 million, or $2.04 per diluted share, in FY17 compared to $563 million, or $1.74 per diluted share, in FY16.
Segment Results
During Q4 2017, Ball's Beverage Packaging, North and Central America segment's comparable operating earnings were $133 million, on sales of $998 million, compared to $114 million, on sales of $959 million, in Q4 2016. During the reported quarter, cost savings from the Reidsville, North Carolina plant rationalization, and an improved operating environment in the southern US, as well as a continued growth in Mexican volumes, were offset by a decline in domestic beer consumption.
Ball's Beverage Packaging, South America Beverage Packaging, South America segment's comparable operating earnings were $128 million, on sales of $547 million, in Q4 2017 compared to $85 million, on sales of $437 million, in Q4 2016.
For Q4 2017, Ball's Beverage Packaging, Europe Packaging segment's comparable operating earnings were $49 million, on sales of $536 million, compared to $32 million, on sales of $456 million, in Q4 2016. The segment's earnings reflected ongoing operational efficiencies related to optimizing the Company's plant network. The segment's demand was up low-single digits in the reported quarter, led by favorable demand trends, particularly in Russia and the Iberian Peninsula.
During Q4 2017, Ball's Food and Aerosol Packaging Food segment's comparable operating earnings were $26 million, on sales of $271 million, compared to $24 million, on sales of $259 million, in Q4 2016. In the reported quarter, the segment benefitted from a mid-single digit volume growth in the Company's global aluminum aerosol business, an improved manufacturing performance across its US tinplate packaging business, and a stronger than anticipated US food can volume demand due to customers carrying more inventory into 2018.
Ball's Aerospace segment's comparable operating earnings were $28 million, on sales of $257 million, in Q4 2017 compared to $26 million, on sales of $241 million, in Q4 2016. The ramp up of new contracts and the mix of more cost-plus versus fixed-price contracts influenced y-o-y margins.
The Aerospace segment finished the fiscal year with a record contracted backlog of $1.75 billion, up 25% y-o-y.
Cash Matters
Ball's free cash flow exceeded $920 million in FY17, supported by approximately $325 million in y-o-y working capital reductions. The Company's year-end net debt of $6.5 billion was nearly $400 million lower versus the year ago same period, despite $275 million of higher y-o-y foreign exchange rates on Ball's foreign currency-denominated debt; pension funding of approximately $200 million; and $205 million of combined share repurchases and dividends.
Outlook
For FY18, Ball is forecasting free cash flow to be $900 million, after capital expenditure of at least $600 million. The Company is estimating to return approximately $500 million to shareholders in the form of share buybacks and dividends.
Ball is estimating that the TCJA will lower its global effective tax rate on comparable earnings from approximately 25% in 2017 to approximately 23% in 2018.
Stock Performance Snapshot
March 05, 2018 - At Monday's closing bell, Ball's stock climbed 1.35%, ending the trading session at $39.93.
Volume traded for the day: 3.60 million shares, which was above the 3-month average volume of 3.53 million shares.
Stock performance in the last month – up 4.12%; previous three-month period – up 0.05%; past twelve-month period – up 8.20%; and year-to-date – up 5.50%
After yesterday's close, Ball's market cap was at $14.01 billion.
Price to Earnings (P/E) ratio was at 37.99.
The stock has a dividend yield of 1.00%.
The stock is part of the Consumer Goods sector, categorized under the Packaging & Containers industry. This sector was up 0.6% at the end of the session.
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