Benzinga | Aug 5, 2021 12:33PM EDT

Ball Corp Q2 Result Tops Estimates

* Ball Corporation (NYSE:BLL) reported second-quarter FY21 sales growth of 24% year-on-year, to $3.46 billion, beating the analyst consensus of $3.22 billion.

* Beverage packaging, North and Central America sales rose 20% Y/Y, beverage packaging EMEA increased 29.6%, beverage packaging South America gained 37.4%, and Aerospace segment sales rose 4.8%.

* Global beverage can volumes up 13% and specialty mix exceeds 49% in Q2.

* Comparable EPS of $0.86 beat the analyst consensus of $0.83.

* Selling, general and administrative expenses rose 49.5% Y/Y to $166 million.

* The company held $571 million in cash and equivalents as of June 30, 2021. Cash provided by operating activities for the six months amounted to $168 million.

* Year-to-date aerospace contracted backlog improved 25% to $3 billion; won-not-booked backlog of $5.1 billion.

* Looking ahead, Ball Corp said it is positioned to exceed the long-term EPS growth goal of 10%-15%.

* Price action: BLL shares are trading lower by 0.11% at $78.94 in premarket on the last check Thursday.