| Imagery Source: Ball Corporation |
| Information Source: Ball Corporation |
| Highlights |
- First quarter U.S. GAAP total diluted earnings per share of 63 cents vs. $11.61 in 2024
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- First quarter comparable diluted earnings per share of 76 cents vs. 68 cents in 2024
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- Global aluminium packaging shipments increased 2.6%
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- Returned $612 million to shareholders via share repurchases and dividends in the first three months of 2025; on track to return at least $1.5 billion to shareholders by year-end
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- In 2025, positioned to advance the use of sustainable aluminium packaging, grow comparable diluted earnings per share in the range of 11-14 per cent, increase EVA, generate strong free cash flow and continue long-term return of value to shareholders
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| Ball Corporation (NYSE: BALL) today reported first quarter 2025 results. References to net sales and comparable operating earnings in today's release do not include the company's former aerospace business. Year-over-year net earnings attributable to the corporation and comparable net earnings do include the performance of the company's former aerospace business through the sale date of February 16, 2024. |
| On a U.S. GAAP basis, the company reported, first quarter 2025 net earnings attributable to the corporation of $179 million or total diluted earnings per share of 63 cents, on sales of $3.10 billion, compared to $3.69 billion net earnings attributable to the corporation, or total diluted earnings per share of $11.61 on sales of $2.87 billion in 2024. |
| Ball's first quarter 2025 comparable net earnings were $216 million, or 76 cents per diluted share, compared to $217 million, or 68 cents per diluted share, in 2024. |
| "We delivered strong first quarter results, returning $612 million to shareholders. Our solid financial foundation, leaner operating model and focused growth strategy enabled us to drive meaningful volume and comparable diluted earnings per share growth. While we remain mindful of heightened geopolitical uncertainty in select markets, we are confident in our ability to meet our 2025 objectives. Our commitment to operational excellence remains central to our strategy. We continue to unlock manufacturing efficiencies, invest in innovation and sustainability, and tightly manage our cost structure. These actions position us well to navigate near-term challenges and consistently deliver long-term value for our shareholders," said Daniel W. Fisher, chairman and chief executive officer. |
| Details of reportable segment comparable operating earnings, business consolidation and other activities, business segment descriptions and other non-comparable items can be found in the notes to the unaudited condensed consolidated financial statements that accompany this news release. References to volume data represent units shipped. |
| Beverage Packaging, North and Central America |
| Beverage packaging, North and Central America, segment comparable operating earnings forthe first quarter 2025 were $195 million on sales of $1.46 billion compared to $192 million on sales of $1.40 billion during the same period in 2024. First quarter sales reflect higher volume and price/mix. |
| First quarter segment comparable operating earnings increased year-over-year due primarily to volume. Year-over-year first quarter segment volume increased low-single digit percent. |
| Beverage Packaging, EMEA |
| Beverage packaging, EMEA, segment comparable operating earnings for the first quarter 2025 were $96 million on sales of $903 million compared to $85 million on sales of $810 million during the same period in 2024. First quarter sales reflect higher year-over-year shipments and price/mix, partially offset by currency translation. |
| First quarter comparable operating earnings reflect higher volume. Year-over-year first quarter segment volume increased mid-single digit per cent. |
| Beverage Packaging, South America |
| Beverage packaging, South America, segment comparable operating earnings for the first quarter of 2025 were $69 million on sales of $544 million compared to $55 million on sales of $482 million during the same period in 2024. Year-over-year sales reflect higher volume and price/mix. |
| First quarter segment comparable operating earnings increased year-over-year driven by higher segment volume and price/mix. Year-over-year first quarter segment volume increased low-single digit percent. |
| Non-reportable |
| Non-reportable is comprised of undistributed corporate expenses, net of corporate interest income, the results of the company's global personal & home care (formerly aerosol packaging) business, beverage can manufacturing facilities in India, Saudi Arabia and Myanmar and the company's aluminium cup business. |
| On March 21, 2025, Ball closed on a transaction for the aluminium cups business, which resulted in Ball deconsolidating the business. The financial results of the aluminium cups business are presented in other non-reportable categories as of the date of the transaction. |
| First quarter results reflect higher comparable operating earnings for the aluminium packaging businesses in other non-reportable and lower year-over-year undistributed corporate expenses. |
| Outlook |
| The company continues to assess the evolving trade landscape and its implications for our business. We view the direct impact from announced tariffs as manageable and are actively working with our customers to mitigate the effects of volatility in aluminium premium prices. Our strategy emphasises local sourcing and manufacturing, reducing our exposure to international trade fluctuations. |
| While the broader, indirect effects of tariffs remain uncertain, we are not currently seeing a meaningful impact on our second-quarter performance. Over the coming months and quarters, we expect to gain greater clarity on how shifts in consumer confidence and potential inflation might influence end-market demand. |
| "Our global business performance remains strong, and we are well-positioned to meet or exceed our stated financial goals. We are on track to return at least $1.5 billion to shareholders in 2025. This reflects our continued focus on disciplined execution, operational excellence, and a culture of continuous improvement. Our free cash flow generation underscores the resilience of our business model and provides us with the flexibility to both deliver meaningful shareholder returns and invest strategically in long-term growth. We remain committed to maintaining a robust financial position that supports value creation today and in the years ahead," said Howard Yu, executive vice president and chief financial officer. |
| "Building on our strong start to the year, we remain confident in the strength and resilience of our business. The momentum from our first quarter performance reinforces our ability to execute with discipline and agility, and it positions us well to deliver on our plans of 11-14% comparable diluted earnings per share growth in 2025. Our team is focused on advancing sustainable aluminium packaging with purpose and pace, consistently delivering high-quality products, strong free cash flow, and EVA. At the same time, we remain committed to returning meaningful value to shareholders through share repurchases and dividends. Backed by the strength of the Ball Business System, our best-in-class global footprint, and the dedication of our talented employees, we are well-positioned to drive long-term growth and create enduring value in 2025 and beyond," Fisher said. |
| For the full document, click the link below |
| Ball Corporation |
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