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Articles 

Ball Corp. Reports Operating Results (10-Q)

August 03, 2012 | About:

Ball Corp. (NYSE:BLL) filed Quarterly Report for the period ended 2012-07-01.

Ball Corporation has a market cap of $6.56 billion; its shares were traded at around $41.16 with a P/E ratio of 14.9 and P/S ratio of 0.8. The dividend yield of Ball Corporation stocks is 1%. Ball Corporation had an annual average earning growth of 13% over the past 10 years. GuruFocus rated Ball Corporation the business predictability rank of 4.5-star.

Highlight of Business Operations:

Selling, general and administrative (SG&A) expenses were $98.6 million and $198.2 million in the second quarter and first six months of 2012, respectively, which are comparable to $93.1 million and $192.5 million for the same periods in 2011, respectively. These amounts represented 4.3 percent and 4.6 percent of consolidated net sales for the second quarter and first six months of 2012, respectively, compared to 4.0 percent and 4.5 percent for the same periods of 2011, respectively. There were no individually significant items affecting comparability between the periods.

Segment sales in the second quarter and first six months of 2012 were $43.5 million and $60.9 million higher compared to the same periods in 2011, respectively. The increase in the second quarter was primarily attributable to favorable product sales mix of $26 million, higher sales volumes in the PRC and Brazil of $17 million and the acquisition of QMCP, partially offset by lower volumes in North America of $10 million. The higher sales in the first six months were primarily due to favorable product sales mix of $45 million and the acquisition of QMCP of $14 million.

Segment sales in the second quarter and first six months of 2012 decreased $51.7 million and $31.7 million compared to the same periods in 2011, respectively. The decrease in the second quarter was primarily due to unfavorable currency exchange effects of $67 million, partially offset by higher sales volumes of $13 million. The decrease in the first six months was due to unfavorable currency exchange effects of $85 million, partially offset by higher sales volumes of $35 million.

Segment earnings in the second quarter and first six months of 2012 decreased $19.0 million and $18.4 million compared to the same periods in 2011, respectively. The decrease in the second quarter was due to unfavorable euro translation effects of $10 million and price/cost compression, partially offset by higher sales volumes. The decrease in the first six months was due to price/cost compression of $23 million and unfavorable currency exchange effects, partially offset by higher sales volumes of $17 million.

Segment sales in the second quarter and first six months of 2012 were $18.1 million and $32.4 million lower compared to the same periods of 2011, respectively. Lower sales in the second quarter were primarily due to lower volumes of $27 million from lower preseason sales and customer inventory reductions, partially offset by favorable pricing and mix. Lower sales in the first six months were from lower volumes of $47 million, partially offset by favorable cost recovery and mix of $15 million.

Read the The complete Report

About the author:

10qk
Charlie Tian, Ph.D. - Founder of GuruFocus. You can now order his book Invest Like a Guru on Amazon.

Rating: 2.0/5 (3 votes)

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