Ball Reports Fourth Quarter 2024 Results

Ball Corporation reported full-year and fourth-quarter 2024 results.

On a U.S. GAAP basis, the company reported full-year 2024 net earnings attributable to the corporation of $4.01 billion, or total diluted earnings per share of $13.00, on sales of $11.80 billion, compared to $707 million net earnings attributable to the corporation, or total diluted earnings per share of $2.23, on sales of $12.06 billion in 2023. Ball’s full-year 2024 comparable net earnings were $977 million, or $3.17 per diluted share compared to $920 million, or $2.90 per diluted share in 2023.

Ball’s fourth quarter 2024 net loss attributable to the corporation, on a U.S. GAAP basis, was $32 million, or total diluted loss per share of 11 cents, on sales of $2.88 billion compared to net earnings attributable to the corporation of $154 million, or total diluted earnings per share of 49 cents, on sales of $2.90 billion in the fourth quarter of 2023.

“We delivered strong full-year and fourth-quarter results and returned $1.96 billion to shareholders in 2024,” said Daniel W. Fisher, chairman and CEO. “Leveraging our strong financial position and leaner operating model, the company was able to deliver on its 2024 goals and remains uniquely positioned to enable our purpose of advancing the greater use of sustainable aluminum packaging, despite the current end consumer environment in certain geographies.

“We continue to complement our purpose by unlocking additional manufacturing efficiencies, driving innovation and sustainability on a global scale, managing our costs and enabling consistent delivery of high-quality, long-term shareholder value creation,” Fisher reported.

Beverage packaging, North and Central America, segment comparable operating earnings for full-year 2024 were $747 million on sales of $5.62 billion compared to $710 million on sales of $5.96 billion in 2023. For the fourth quarter 2024, segment comparable operating earnings were $142 million on sales of $1.29 billion compared to $156 million on sales of $1.38 billion during the same period in 2023.

Full-year and fourth-quarter 2024 sales reflect lower volume and lower price/mix partially driven by the contractual passthrough of lower aluminum costs for the year.

Beverage packaging, EMEA, segment comparable operating earnings for full-year 2024 were $416 million on sales of $3.47 billion compared to $354 million on sales of $3.40 billion in 2023. For the fourth quarter, segment comparable operating earnings were $90 million on sales of $826 million compared to $80 million on sales of $739 million during the same period in 2023.

Beverage packaging, South America, segment comparable operating earnings for full-year 2024 were $296 million on sales of $1.95 billion compared to $266 million on sales of $1.96 billion in 2023. For the fourth quarter, comparable segment operating earnings were $126 million on sales of $563 million compared to $125 million on sales of $616 million during the same period in 2023.

In the fourth quarter of 2024, Ball’s Board of Directors provided approval for the company to pursue alternatives for the company’s aluminum cup business. This includes an option to form a strategic partnership in early 2025, which is expected to result in deconsolidation of the business by Ball.

“Our company performed well and delivered on our stated comparable earnings growth goal while returning $1.96 billion to shareholders in 2024. By consistently executing on our plans to drive continuous improvement, operational excellence and cost management our resulting strong free cash flow will allow us to return significant value to shareholders while also prudently investing in our business over the years to come,” said Howard Yu, EVP and CFO.

“Our global team is focused on executing our enterprise-wide strategy with purpose and pace to advance aluminum packaging and to consistently deliver high-quality results, products and returns,” Fisher said. “In 2025, we are positioned to deliver on our algorithm and exceed 10 percent comparable diluted earnings per share growth, generate strong free cash flow and EVA while also returning significant value to shareholders through a combination of share repurchases and dividends.”