Ball Corp. profits slide in third quarter

BROOMFIELD — Ball Corp. (NYSE: BLL) on Thursday reported profit of $44.5 million, or 32 cents per share, on revenue of $2.1 billion for its third-quarter that ended Sept. 30, a sharp decline in profit compared with the same period a year ago and for the first nine months of the year.

The Broomfield-based can manufacturer’s profit for the same period a year ago was $147.4 million, or $1.04, per share, on sales of$2.2 billion.

Profit for the first nine months of the year was $225.6 million, or $1.60 per share, on sales of $6.2 billion, compared with $394 million, or $2.76 per share, on revenue of $6.5 billion in the first nine months of 2014.

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“Results from operations and global metal packaging volumes were in line with our expectations for the quarter, John Hayes, Ball’s chairman, president and chief executive, said in a prepared statement. “Foreign currency translation headwinds and project startup costs both continued.”

He said the company continues to work on its proposed offer to acquire London-based competitor Rexam PLC. It also is working on an agreement with its Brazilian joint venture partners for an exchange of Ball shares for the partners’ remaining interest in the joint venture.

Aerospace and Technologies

Ball Corp.’s Boulder-based subsidiary, Ball Aerospace and Technologies Corp., reported a profit of $21.4 million on sales of $203.4 million, compared with $21.2 million on sales of $221.7 million in the third quarter 2014. During the quarter, Ball Aerospace integrated the propulsion subsystem for NASA’s Green Propellant Infusion Mission onto the spacecraft bus and began system performance and environmental testing. The mission is scheduled to launch in 2016.