Aluminium Packaging Company Ball Corporation reports net earnings of $179 million on sales of $3.6 billion in Q3 2021

Ball Corporation, the world's leading provider of innovative, sustainable aluminum packaging for beverage, personal care and household products has announced the third-quarter results of 2021, reporting net earnings of $179 million on sales of $3.6 billion, compared to $241 million net earnings on $3.1 billion sales a year ago. In nine months, net earnings totalled $581 million on sales of $10 billion versus $358 million on sales of $8.7 billion during the corresponding period of last year.

Ball’s third quarter and year-to-date 2021 comparable earnings per diluted share were 94 cent and $2.52, respectively, compared to 89 per cent and $2.15 last year.

"During the quarter, the company increased comparable earnings per diluted share by 6%, managed numerous supply chain inefficiencies and continued to hire and position talent to support multi-year growth initiatives. Underlying demand for our sustainable aluminum packaging portfolio and aerospace technologies continues to outstrip supply, and our various growth projects around the world are supported by long-term contracts for committed volume with effective cost recovery mechanisms. Coupled with the successful startup of these new facilities, we are well positioned to meaningfully grow our long-term diluted earnings per share, EVA dollars, cash from operations and return significant value to our shareholders over time in the form of dividends and share repurchases," said John A. Hayes, chairman and chief executive officer.

Under Beverage packaging, North and Central America, Ball yielded comparable segment operating earnings $186 million on sales of $1.5 billion in Q3 2021, compared to $209 million on sales of $1.3 billion in Q3 2020. For the first nine months, comparable segment operating earnings were $519 million on sales of $4.3 billion versus $544 million on sales of $3.8 billion during the same period in 2020. Year-over-year sales reflect higher shipments, the contractual pass through of higher aluminum costs and improved price/mix.

Under Beverage packaging, South America, comparable segment operating earnings for Q3 were $74 million on sales of $462 million, which brought earnings in nine months to $245 million on sales of $1.4 billion.

From the Aerospace sector, Ball Corporation generated operating earnings for the third quarter of $46 million on sales of $498 million. From January to September, total earnings stood at $115 million on sales of $1.4 billion. Segment results reflect moderation in the inefficiencies created from certain customer supply-chain disruptions. New contracts booked late in the second quarter ramped quickly and hiring to support future growth and multiple projects to expand manufacturing capacity, test capabilities, engineering, and support workspace remain on track in 2021.