Ball Corporation Reports Improved 3Q 2019 Results

Ball Corporation reported, on a US GAAP basis, third quarter 2019 net earnings attributable to the corporation of $92 million (including the net effect of after-tax charges of $145 million, or 43 cents per diluted share for business consolidation and other non-comparable costs) or 27 cents per diluted share, on sales of $2.95 billion, compared to $59 million net earnings attributable to the corporation, or 17 cents per diluted share (including the net effect of after-tax charges of $138 million, or 39 cents per diluted share for business consolidation and other non-comparable costs), on sales of $2.95 billion in 2018.

Results for the first nine months of 2019 were net earnings attributable to the corporation of $406 million, or $1.19 per diluted share, on sales of $8.76 billion, compared to $303 million net earnings attributable to the corporation, or 86 cents per diluted share, on sales of $8.83 billion for the first nine months of 2018.

“Positive momentum in our aluminum beverage packaging and aerospace businesses continues. During the quarter, our global beverage volumes increased 4% and our aerospace contracted backlog increased 9%. With global customer and consumer demand for aluminum packaging solutions continuing to outpace existing supply, we are focused on improving operational efficiencies and ramping up previously announced line additions, speed-ups and greenfield plant expansions to add at least 5 billion units of capacity over the next 12-18 months. In addition, the successful launch of our new lightweight aluminum cup has accelerated our plans to construct a dedicated aluminum cup manufacturing facility in Rome, Georgia,” said John A. Hayes, chairman, president and CEO.

“To complement our existing plant network, we are excited to announce the construction of a new beverage can manufacturing facility in Glendale, Arizona, to support the new can filling facility for a major customer as well as third party business. Initially a high-speed two line facility, we expect this new plant to come on line in early 2021 and will have the capability to be further scaled as market growth dictates. We are also actively exploring a new aluminum beverage can facility in the US Northeast, and continue to explore other growth opportunities around the world, which we will discuss further in the near future.”