08.06.21
Ball Corporation reported, on a US GAAP basis, second quarter 2021 net earnings attributable to the corporation of $202 million (including net after-tax charges of $85 million, or 25 cents per diluted share for business consolidation and other non-comparable items), or 61 cents per diluted share, on sales of $3.5 billion, compared to $94 million net earnings attributable to the corporation, or 28 cents per diluted share (including net after-tax charges of $122 million, or 37 cents per diluted share for business consolidation and other non-comparable items), on sales of $2.8 billion in 2020.
Results for the first six months of 2021 were net earnings attributable to the corporation of $402 million, or $1.20 per diluted share, on sales of $6.6 billion compared to $117 million, or 35 cents per diluted share, on sales of $5.6 billion for the first six months of 2020.
Ball's second quarter and year-to-date 2021 comparable earnings per diluted share were 86 cents and $1.58, respectively, versus second quarter and year-to-date 2020 comparable earnings per diluted share of 65 cents and $1.26, respectively.
"During the quarter, the company increased comparable earnings per diluted share by 32% on 13% aluminum beverage volume growth and 20% aluminum aerosol growth, and secured new aerospace contracts to achieve record backlog. In addition to global operations executing at a high level, the company started up the new Pittston, Pennsylvania, beverage can manufacturing facility, initiated further global capacity investments and successfully launched The Aluminum Cu at retail in the United States. Global projects in North America, South America and EMEA are supported by long-term contracts and will contribute meaningfully to 2021 and beyond," said John A. Hayes, chairman and CEO.
"The company is well-positioned for long-term growth and we recently accelerated return of value to shareholders in 2021 by increasing our dividend 33% and initiating share repurchases of at least $500 million. Our financial strength and flexibility provide the opportunity to return value to shareholders while also investing in excess of $1.5 billion in capital expenditures to further grow cash from operations, earnings and EVA dollars," said Scott C. Morrison, EVP and CFO.
Results for the first six months of 2021 were net earnings attributable to the corporation of $402 million, or $1.20 per diluted share, on sales of $6.6 billion compared to $117 million, or 35 cents per diluted share, on sales of $5.6 billion for the first six months of 2020.
Ball's second quarter and year-to-date 2021 comparable earnings per diluted share were 86 cents and $1.58, respectively, versus second quarter and year-to-date 2020 comparable earnings per diluted share of 65 cents and $1.26, respectively.
"During the quarter, the company increased comparable earnings per diluted share by 32% on 13% aluminum beverage volume growth and 20% aluminum aerosol growth, and secured new aerospace contracts to achieve record backlog. In addition to global operations executing at a high level, the company started up the new Pittston, Pennsylvania, beverage can manufacturing facility, initiated further global capacity investments and successfully launched The Aluminum Cu at retail in the United States. Global projects in North America, South America and EMEA are supported by long-term contracts and will contribute meaningfully to 2021 and beyond," said John A. Hayes, chairman and CEO.
"The company is well-positioned for long-term growth and we recently accelerated return of value to shareholders in 2021 by increasing our dividend 33% and initiating share repurchases of at least $500 million. Our financial strength and flexibility provide the opportunity to return value to shareholders while also investing in excess of $1.5 billion in capital expenditures to further grow cash from operations, earnings and EVA dollars," said Scott C. Morrison, EVP and CFO.
