Ball Corporation reported net earnings of $200 million in Q1 2021

Ball Corporation reported net earnings of $200 million on sales of $3.1 billion in the first quarter of 2021, compared to $23 million net earnings on sales of $2.8 billion last year. 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.

Ball raised its comparable earnings per diluted share by 18% on 8% global beverage volume growth and maintained strong aerospace backlog in Q1. The company's EMEA and South American beverage can businesses also reported strong comparable earnings.

The new beverage can manufacturing facility in Glendale, Arizona, started production and the Ball Aluminum Cup™ began national rollout distribution at retail late in the quarter. Significant demand growth for sustainable aluminum packaging continues to outstrip global supply and the cadence of capital investments to address contracted customer demand is accelerating.

"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. 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," said John A. Hayes, chairman and chief executive officer.