Ball beats Wall Street estimates as Russian divestment pushes down volume
WESTMINSTER — Ball Corp. (NYSE: BALL), a Westminster-based metal-packaging manufacturer with a major aerospace division, saw its stock price take flight on Thursday after an earnings report bested analysts expectations despite a year-over-year bottomline contraction.
Ball’s first-quarter 2023 comparable net earnings were $217 million, or 69 cents per diluted share, compared with $252 million, or 77 cents per diluted share in 2022.
“Year-over-year financial results reflect the impact of the Russian aluminum beverage can business sale completed in the third quarter of 2022,” Ball said in its quarterly report.
The Westminster company’s performance in the most-recent quarter far exceeded the Zacks Consensus Estimate…
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