Ball Corporation BLL reported second-quarter 2021 adjusted earnings of 86 cents per share, beating the Zacks Consensus Estimate of 83 cents. The bottom line improved 32% on a year-over-year basis. The quarterly results reflect 13% aluminum beverage volume growth and 20% aluminum aerosol growth.On a reported basis, the company delivered earnings of 61 cents per share compared with the prior-year quarter’s 28 cents.Total sales were $3,459 million in the reported quarter, up 23% from the year-ago quarter. The top line surpassed the Zacks Consensus Estimate of $3,256 million. Global beverage-can volumes were up 13% in the quarter.Ball Corporation Price, Consensus and EPS Surprise Ball Corporation price-consensus-eps-surprise-chart | Ball Corporation QuoteOperational UpdateCost of sales amounted to $2,760 million in second-quarter 2021, up 24% from the year-ago quarter. Gross profit totaled $699 million compared with the year-ago quarter’s $571 million. Gross margin came in at 20.2% during the reported quarter, reflecting a 20 basis point contraction year over year.Selling, general and administrative expenses surged 49% year over year to $166 million. Adjusted operating profit improved 22% year over year to $399 million. Adjusted operating margin came in at 11.5%, compared with 11.7% in the prior-year quarter.Segment PerformanceThe Beverage packaging North and Central America segment revenues increased to $1,524 million in second-quarter 2021 from the year-ago quarter’s $1,267 million. Operating earnings amounted to $193 million during the reported quarter, up 2% year over year.Sales at the Beverage packaging, EMEA segment were $906 million in the second quarter, up 30% year over year. Operating earnings soared 97% year over year to $124 million.The Beverage packaging South America segment’s revenues increased to $452 million in the reported quarter from the prior-year period’s $329 million. Operating earnings climbed 70% to $78 million from the year-earlier quarter’s $46 million.In the Aerospace segment, sales were up 5% year over year to $459 million. Operating earnings increased to $34 million from the year-ago quarter figure of $30 million. At the end of the quarter under review, the segment’s contracted backlog was $3 billion. Contracts already won but not yet booked into current contracted backlog was $5.1 billion.Financial ConditionThe company reported cash and cash equivalents of $571 million at the end of second-quarter 2021, down from $801 million at the end of the 2020. Cash flow generated from operating activities was $477 million in the first six month period of 2021 compared with usage of $232 million in the prior-year comparable period. The company’s long-term debt declined to $6.97 billion at the end of the second quarter of 2021 from $7.5 billion at the end of 2020.The company is increasing its dividend by 33% and also initiating a share repurchase program of at least $500 million. It is investing in excess of $1.5 billion in capital expenditures to drive growth.OutlookGlobal demand for aluminum packaging continues to grow as customers now prefer cans over glass and plastic. The company maintains its long-term diluted earnings per share growth goal of at least 10-15%.Share Price PerformanceImage Source: Zacks Investment ResearchBall Corp's shares have gained 5.3% over the past year compared with the industry’s rally of 14.4%.Zacks Rank and Stocks to ConsiderBall Corp currently has a Zacks Rank #3 (Hold).Some better-ranked stocks in the Industrial Products sector are Mueller Industries, Inc. MLI, Greif, Inc. GEF and Encore Wire Corporation WIRE. All of these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Mueller Industries has an estimated earnings growth rate of 154% for the ongoing year. The company’s shares have rallied 44% in the past year.Greif has an expected earnings growth rate of 47% for 2021. Over the past year, the stock has climbed 63%.Encore Wire has an estimated earnings growth rate of 333% for the ongoing year. The company’s shares have appreciated 56% in the past year. Bitcoin, Like the Internet Itself, Could Change Everything Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities. Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. See 3 crypto-related stocks now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ball Corporation (BLL): Free Stock Analysis Report Greif, Inc. (GEF): Free Stock Analysis Report Mueller Industries, Inc. (MLI): Free Stock Analysis Report Encore Wire Corporation (WIRE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research