Boston, MA 05\/15\/2014 (wallstreetpr) \u2013 Ball Corporation (NYSE:BLL)<\/b> reported its first quarter 2014 results with net earnings of $93.5 million or $0.65 per diluted share on sales of $2.0 billion.<\/p>\n
Segment results<\/b><\/p>\n
Sales during first quarter increased to $2 billion due to stable growth in beverage can volumes in North America, and high volume growth in Europe and Brazil.<\/p>\n
A. Metal Beverage Packaging \u2013 Americas & Asia<\/i><\/p>\n
In 1Q2014, segment sales increased marginally to $997.6 million, but, operating earnings increased by 20% to $124.9 million in 1Q2014 (1Q2013: $104 million).<\/p>\n
The continued weaknesses in carbonated soft drink market, in North America and lower volumes as a result of relocation of Shenzhen facility, China compressed the sales. But, the growing demand for specialty beverage packaging and strong beer can volumes improved sales in North America and Brazil.<\/p>\n
B. Metal Beverage Packaging \u2013 Europe<\/i><\/p>\n
During 1Q2014, sales increased by 12% to $450.2 million due to increasing volumes in beverage cans (1Q2013: $402.9 million). Cost reduction measures and higher production improved the segment operating earnings to $55.5 million (1Q2013: $30.9 million).<\/p>\n
C. Metal Food & Household Products Packaging<\/i><\/p>\n
The segment posted a moderate increase in operating earnings to $36.3 million (1Q2013: 34.7 million) on sales of $341.1 million during the quarter (1Q2013: $367.2 million). The decline in the sale was due to weaker demand of food and aerosol container in the U.S., but, stronger volumes of lightweight recycled aluminum container in Europe compensated the incurring loss.<\/p>\n
D. Aerospace and Technologies<\/i><\/p>\n
Aerospace and Technologies segment\u2019s earnings improved to $24.1 million (1Q2013: $17.9 million) due to consistent delivery of contracted backlog and expect to deliver as the segment is pursuing several long-term contracts.<\/p>\n
Growth in bottom line<\/b><\/p>\n
The improved segment\u2019s operating earnings drove the overall profitability of Ball Corporation (NYSE:BLL) to $217.4 million in 1Q2014 compared to $165.7 million in the same period 2013. Consequently, it improved the comparable EPS to $0.81 versus $0.58 in 1Q2013.<\/p>\n
Increased earnings and lower change in working capital compared to prior year period reduced the cash used in operation. Ball Corporation (NYSE:BLL) expects growth in free cash flow and anticipates generating $550 million in FY2014.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 05\/15\/2014 (wallstreetpr) \u2013 Ball Corporation (NYSE:BLL) reported its first quarter 2014 results with net earnings of $93.5 million or $0.65 per diluted share […]<\/p>\n","protected":false},"author":12,"featured_media":22359,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[6625,6626],"stock_ticker":[],"class_list":["post-22345","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-ball-corporation-nysebll","tag-nysebll","entry"],"acf":[],"yoast_head":"\n