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Ball Corp Beats Quarterly Estimates On Steady Demand For Its Aluminum Cans
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ESM Magazine
Aluminium package maker Ball Corp beat Wall Street estimates for second-quarter revenue and profit, supported by resilient demand for its beverage cans.
Ball reported a 4.3% increase in global aluminium packaging shipments for the quarter, compared with a 0.8% rise in the previous quarter.
Beverage packaging sales in North and Central America were $2 billion (€1.7 billion), up from $1.61 billion (€1.4 billion) a year ago.
Colorado-based Ball Corp is one of the world’s largest manufacturers of aluminium beverage packaging, supplying cans, bottles and cups primarily to food and beverage companies across North America, Europe and South America.
The company reported revenue of $4 billion (€3.5 billion) for the three months ended 30 June, compared with analysts' average expected revenue of $3.71 billion (€3.2 billion), according to data compiled by LSEG.