Why Ball Corp Shares Are Trading Lower Today

Ball Corporation BLL reported first-quarter FY22 sales growth of 18.9% year-on-year to $3.72 billion, beating the consensus of $3.5 billion.
Beverage packaging, North and Central America sales rose 24.2% Y/Y, Beverage packaging EMEA increased 18.3%, Beverage packaging South America gained 1.4%, and Aerospace segment sales rose 18.8%.
Beverage can shipments rose 10% and 3% in EMEA and North America, respectively.
Comparable EPS of $0.77 missed the analyst consensus of $0.83.
The company held $446 million in cash and equivalents as of March 31, 2022. Cash used in operating activities amounted to $(804) million. BLL's net debt totaled $8.1 billion.
Aerospace backlog increased to $3.2 billion, up 28% since year-end 2021.
BLL said it is positioned to return $1.75 billion to shareholders and deploy $1.8 billion in capital expenditures during 2022.
The company noted its ability to achieve the long-term EPS growth goal of 10% – 15% intact. Meanwhile, in 2022, the ability to accomplish the range is dependent on Russian business sale outcome.
Price Action: BLL shares are trading lower by 8.88% at $75.83 on the last check Thursday.