Why Ball Corp Shares Are Trading Lower Today

  • Ball Corporation BLL reported first-quarter FY22 sales growth of 18.9% year-on-year to $3.72 billion, beating the consensus of $3.5 billion.
  • Beverage packaging, North and Central America sales rose 24.2% Y/Y, Beverage packaging EMEA increased 18.3%, Beverage packaging South America gained 1.4%, and Aerospace segment sales rose 18.8%.
  • Beverage can shipments rose 10% and 3% in EMEA and North America, respectively.
  • Comparable EPS of $0.77 missed the analyst consensus of $0.83.
  • The company held $446 million in cash and equivalents as of March 31, 2022. Cash used in operating activities amounted to $(804) million. BLL's net debt totaled $8.1 billion.
  • Aerospace backlog increased to $3.2 billion, up 28% since year-end 2021.
  • BLL said it is positioned to return $1.75 billion to shareholders and deploy $1.8 billion in capital expenditures during 2022.
  • The company noted its ability to achieve the long-term EPS growth goal of 10% – 15% intact. Meanwhile, in 2022, the ability to accomplish the range is dependent on Russian business sale outcome.
  • Price Action: BLL shares are trading lower by 8.88% at $75.83 on the last check Thursday.

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