Ball reports profits more than tripling
Feb. 7, 2018 at 11:44 p.m.
Updated Feb. 8, 2018 at 9:06 a.m.
Ball Corp. said Wednesday that fourth quarter earnings more than tripled from a year ago.
The Bloomfield, Colorado, company reported earnings of $184 million, or 52 cents per diluted share, compared with $52 million, or 15 cents per diluted share, a year ago.
Sales were $2.75 billion, up 10 percent from a year ago.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share. Five analysts surveyed by Zacks expected $2.66 billion in sales.
For the year, Ball reported a profit of $399 million, or $1.12 per diluted share, up 51.7 percent from $263 million, or 81 cents per diluted share, for 2016. Revenues in 2018 reached $11 billion, up about 20 percent from $9.1 billion in 2017.
Ball operates a can plant in Longview that employs about 100 people, but has announced plans to close it by the second quarter.