Income from operations was $271 million in the second quarter of 2017. Segment income increased to $297 million in the quarter over the $288 million in the second quarter of 2016, despite $5 million of unfavorable currency translation.
“Our second quarter performance puts us well on our way to a strong 2017, as all businesses delivered solid results,” Timothy J. Donahue, president and CEO, said. “Beverage can volume growth was notable in Europe, Latin America and Southeast Asia.
“Importantly, our various global growth projects remain on schedule. Both lines at our new beverage can facility in Nichols, NY are commercially operational and are progressing through their learning curve,” Donahue added. “Our one-line beverage can plant in Monterrey, Mexico, which commenced production in December 2016, is performing well and meeting the rapidly expanding demand for beer in that region. During June, we began commercial production at our new beverage can plant in Jakarta, Indonesia and completed our capacity expansion project in Colombia. We are also on track to commence commercial production on the second beverage can line at our Danang, Vietnam facility during the third quarter. A new beverage can plant in Yangon, Myanmar and a glass bottle facility in Chihuahua, Mexico are both scheduled for start-up in the first half of 2018.”
Net sales for the first six months of 2017 were $4,062 million compared to $4,035 million in the first six months of 2016, primarily due to increased global beverage can volumes and the pass through of higher raw material costs, partially offset by $102 million of unfavorable currency translation.
Income from operations was $508 million in the first half of 2017. Segment income in the first half of 2017 increased to $525 million over the $509 million in the first six months of 2016, despite $11 million of unfavorable currency translation.