Drug wholesaler AmerisourceBergen Corp. (NYSE:ABC) reported third quarter earnings, which beat expectations. Revenues however missed. The company marginally improved its outlook for the full year.
Profit fell to $181.3 million (71 cents a share), from $184.4 million (66 cents a share) last year, mainly due to falling revenues at its drug segment and higher operating expenses. Revenues fell 1.9 percent to $19.8 billion. Expectations were for earnings of 69 cents on revenues of $20.36 billion.
For the year, the company raised the lower rung of its earnings per share range by six cents, and now expects $2.80 to $2.84. For the next year it expects earnings growth in the high-single digit to low-double digits on a percentage basis, as it looks forward to a combination with Express Scripts Holding Co. New introductions of generic drugs will also help profitability.
Ball Corporation (NYSE:BLL)
Suppliers of metal and plastic packaging to the beverage and food industries, Ball Corporation (NYSE:BLL), reported results for its second quarter. Adjusted earnings were 88 cents a share, and excluding items it was 89 cents a share, just a whisker over the analyst projection of 87 cents a share. Profits were $139.5 million, compared to $143.1 million last year.
Sales were down 0.6 percent to $2.3 billion against $2.36 billion.
The company expects earnings per share to rise 10-15 percent over the full year. “Our new beverage can plants in China, Brazil, and Vietnam will contribute favourably to our results during the second half of 2012,” Raymond J. Seabrook, Ball’s executive vice president and COO for global packaging, said in a statement. “Emerging market and specialty can volume growth during the quarter offset flat volumes in North America and the financial impact of a lower euro.”
Bemis Company, Inc. (NYSE:BMS)
Maker of flexible packaging and pressure sensitive materials, Bemis Company, Inc. (NYSE:BMS), reported net income that fell to $42.3 million (40 cents a share), compared to $54.3 million (51 cents a share) a year earlier. Earnings were 54 cents a share, excluding items. Revenues were down 4.2 percent to $1.31 billion. Analysts forecast 52 cents a share earnings on sales of $1.32 billion.
The outlook for the year was however weak. “We have lowered our expectation for sales volumes for the remainder of the year, and adjusted guidance to reflect both lower volumes and weaker foreign currency exchange rates,” Chief Executive Henry Theisen said.
For the third quarter, earnings per share are expected between $0.51 and $0.57, against street expectations of $0.56. For the full year, adjusted earnings are forecast at $2.00 to $2.10, while analysts estimated $2.08 a share.