Ball Corporation (BLL) reported first quarter 2010 earnings per share from continuing operations of 84 cents, exceeding the Zacks Consensus Estimate of 74 cents.
Revenues were $1.7 billion for the quarter compared to $69.5 million in the first quarter of 2009.
Segment Details
Metal Beverage Packaging – Americas and Asia: comparable segment operating earnings were $74.0 million in the first quarter on sales of $774.4 million, compared to $46.2 million on sales of $620.4 million in 1QFY09. Results in China improved due to increased demand and favorable price/cost mix.
Metal Beverage Packaging – Europe: comparable segment results in the quarter were operating earnings of $35.0 million on sales of $367.5 million, compared to $30.9 million on sales of $343.8 million in 2009.
Metal Food and Household Products Packaging – Americas: comparable segment results in the quarter were operating earnings of $21.7 million on sales of $285.4 million, compared to $49.6 million in 2009 on sales of $283.6 million.
Plastic Packaging – Americas: comparable segment results in the first quarter were an operating loss of $3.2 million on sales of $113.9 million, compared to operating income of $3.6 million on sales of $159.7 million in 1QFY09.
Aerospace and Technologies: results were operating earnings of $13.5 million on sales of $165.0 million in the quarter, compared to $14.6 million on sales of $178.1 million in 2009. Backlog at the end of the quarter was $516.4 million.
During the first quarter, Ball successfully priced a public debt offering of $500 million due in 2020 and issued a notice to redeem $509 million in senior notes due in 2012.
Ball Corporation, together with its subsidiaries, supplies metal and plastic packaging to the beverage, food, and household products industries worldwide. It offers aluminum and steel beverage containers for producers of beer, carbonated soft drinks, mineral water, fruit juices, energy drinks and other beverages.
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