05.07.21
Driven by significant demand growth for sustainable aluminum packaging, Ball Corporation reported sizable growth in sales during 1Q 2021, posting sales of $3.1 billion compared to sales of $2.8 billion in 2020.
Ball's first quarter 2021 comparable net earnings were $240 million, or 72 cents per diluted share, compared to $202 million, or 61 cents per diluted share in 2020.
During the quarter, the company increased comparable earnings per diluted share by 18% on 8% global beverage volume growth and maintained strong aerospace backlog. Significant demand growth for sustainable aluminum packaging continues to outstrip global supply.
"Positive momentum continues across our company despite anticipated startup costs and isolated operational impacts in our North American beverage can business due to winter storms and aerospace customer supply-chain disruptions experienced during the quarter. Global projects in North America, South America and EMEA are expected to add at least 25 billion units of contracted beverage can capacity by year-end 2023 (off a 2019 base of 100 billion units), projects are on track and will contribute meaningfully to 2021 and beyond," said John A. Hayes, chairman and CEO.
“Our focus remains on our employees' safety, training and development, the efficient startups of EVA-enhancing capital projects to serve our customers' growth, the successful retail launch of the Ball Aluminum Cup and delivering value to our stakeholders in 2021 and beyond," added Hayes.
"Global demand for aluminum packaging continues to grow. In 2021, we are allocating in excess of $1.5 billion in capital to support EVA-enhancing projects at returns higher than our 9% after-tax hurdle. As our cash from operations continues to increase and we maintain optimal net debt to comparable EBITDA ratios, we will accelerate return of value to shareholders via dividends and share repurchases," said Scott C. Morrison, EVP and CFO.
Ball's first quarter 2021 comparable net earnings were $240 million, or 72 cents per diluted share, compared to $202 million, or 61 cents per diluted share in 2020.
During the quarter, the company increased comparable earnings per diluted share by 18% on 8% global beverage volume growth and maintained strong aerospace backlog. Significant demand growth for sustainable aluminum packaging continues to outstrip global supply.
"Positive momentum continues across our company despite anticipated startup costs and isolated operational impacts in our North American beverage can business due to winter storms and aerospace customer supply-chain disruptions experienced during the quarter. Global projects in North America, South America and EMEA are expected to add at least 25 billion units of contracted beverage can capacity by year-end 2023 (off a 2019 base of 100 billion units), projects are on track and will contribute meaningfully to 2021 and beyond," said John A. Hayes, chairman and CEO.
“Our focus remains on our employees' safety, training and development, the efficient startups of EVA-enhancing capital projects to serve our customers' growth, the successful retail launch of the Ball Aluminum Cup and delivering value to our stakeholders in 2021 and beyond," added Hayes.
"Global demand for aluminum packaging continues to grow. In 2021, we are allocating in excess of $1.5 billion in capital to support EVA-enhancing projects at returns higher than our 9% after-tax hurdle. As our cash from operations continues to increase and we maintain optimal net debt to comparable EBITDA ratios, we will accelerate return of value to shareholders via dividends and share repurchases," said Scott C. Morrison, EVP and CFO.