WASHINGTON (dpa-AFX) - Ball Corp. (BLL) Thursday reported higher third-quarter earnings, as a decline in cost of sales helped offset a slight decrease in revenues. Profit also topped analysts' expectations, while revenues fell short.
Net profit increased to $147.4 million or $1.04 per share, from $115.2 million or $0.78 per share last year.
Excluding business consolidation and other activities, the company reported a profit of $156.8 million or $1.10 per share.
On average, fifteen analysts polled by Thomson-Reuters estimated earnings to be $1.05. Analysts' estimates typically exclude one-time items.
Net revenues declined slightly to $2.24 billion from $2.28 billion in the previous year. Analysts projected revenues to be $2.30 billion.
'As we close out the year, we remain confident in our ability to increase EVA dollar generation and achieve our long-term diluted earnings per share growth goal of 10 to 15 percent,' said CFO Scott Morrison.
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