Ball Corp.’s earnings per share up 33% in third quarter

BROOMFIELD – Ball Corp. (NYSE: BLL) reported on Thursday a 33 percent increase in earnings per share for the third quarter compared with the same period a year ago.

Broomfield-based Ball – a manufacturer of food and beverage packaging – reported net income attributable to the company of $147.4 million, or $1.04 per diluted share, for the quarter that ended Sept. 30. That’s up from $115.2 million, or 78 cents per share, for the third quarter last year.

That’s despite revenue decreasing from $2.3 billion last year to $2.2 billion for the third quarter this year.

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“As anticipated, volume comparisons in the third quarter were challenging, led by weaker than expected customer demand for our beverage cans in Brazil following the World Cup and for steel food containers in North America,” Ball’s chairman, president and chief execuitve John Hayes said in a prepared statement. “Though we continue to navigate through aluminum premium headwinds in Europe, our focus on global cost containment, exceptional manufacturing performance and a lower effective tax rate led to improved third quarter results.”

Ball’s share price has steadily increased during the past year, closing at a 12-month high of $67.89 on Oct. 21. Shares were trading at $64.40 by late afternoon Friday, up 1.7 percent from the previous day’s close and up from $48.89 from a year ago.