Ball Corp. (BLL) Tops Q1 EPS by 6c

Ball Corp. (NYSE: BLL) reported Q1 EPS of $0.76, $0.06 better than the analyst estimate of $0.70. Revenue for the quarter came in at $2.47 billion versus the consensus estimate of $2.44 billion.

"Our first quarter results from operations exceeded our expectations and higher corporate costs were offset by a lower effective tax rate. The company's global beverage can volume increased in the quarter on a pro forma basis led by improved volumes in the Americas and Europe, global metal aerosol growth offset continued declines in U.S. food cans and aerospace won additional work," said John A. Hayes, chairman, president and chief executive officer. "Higher corporate costs were driven by higher compensation costs and certain one-time items that are expected to recede in the second half of the year. We, once again, reaffirm our financial goals for 2017 through 2019 and we are on track to recognize at least $150 million of the targeted $300 million plus synergies largely in the second half of 2017."

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