Packaging manufacturer Ball (NYSE: BLL) will be announcing earnings results this Tuesday morning. Here’s what investors should know.
Ball beat analysts’ revenue expectations last quarter, reporting revenues of $3.35 billion, up 16.2% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ revenue estimates and a narrow beat of analysts’ EBITDA estimates.
Is Ball a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Ball’s revenue to grow 7.6% year on year, in line with the 7.8% increase it recorded in the same quarter last year.
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 multiple times over the last two years.
Looking at Ball’s peers in the industrial packaging segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Silgan Holdings delivered year-on-year revenue growth of 6.4%, beating analysts’ expectations by 3.7%, and Crown Holdings reported revenues up 12.9%, topping estimates by 7.8%. Silgan Holdings traded up 4.6% following the results while Crown Holdings was down 1.4%.
Read our full analysis of Silgan Holdings’s results here and Crown Holdings’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 2.7% during the same time and is heading into earnings with an average analyst price target of $70.86 (compared to the current share price of $61.33).
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