Ball Corporation reports higher net earnings of $446 million on net sales of $3.7 billion

On May 5, 2022, Ball Corporation, the world’s leading aluminium packaging company, announced its first quarter 2022 financial results, declaring net earnings of $446 million or $1.37 per diluted share attributable to net sales of $3.7 billion. A year ago, the company’s net earnings were $200 million or 60 cent per diluted share on sales of $3.1 billion. Ball’s first quarter 2022 comparable net earnings were $252 million or 77 cent per diluted share compared to $240 million or 72 cents per diluted share during the same period last year.

From its beverage packaging business in North and Central America, Ball Corporation reported comparable segment operating earnings of $174 million for 1Q2022 on sales of $1.6 billion, as against $140 million on sales of $1.3 billion during 1Q2021. Increase in operating earnings and net sales reflect higher beverage cans shipments by 10 per cent and 3 per cent in EMEA and North America, respectively.

Operating earnings from Aerospace business for 1Q2022 were $43 million on sales of $504 million versus $35 million on sales of $424 million a year ago.

Speaking about the performance, Daniel W. Fisher, president and CEO of Ball Corporation, said: "We delivered strong first quarter results amid significant geopolitical and economic conditions across multiple regions where we operate. Comparable diluted earnings per share and comparable operating earnings increased 7 percent and 6 percent, respectively. Our global team executed at a high level to navigate persistent supply chain disruptions and inflation while also commissioning capital projects on time and on budget to serve growing customer demand across our global packaging and aerospace businesses. The resiliency of our employees, business portfolio, customer and supply chain partners and communities where we operate continues to enable a brighter future for our company."

To highlight the near-term and long-term outlook, Scott C. Morrison, executive vice president and chief financial officer, said: "The company is well-positioned for near-term and long-term growth, cost/price recovery and accelerating return of value to shareholders despite our recent decision to leave Russia. Over our 142-year history, we have successfully navigated economic and geopolitical volatility on many occasions. Our company's resiliency, financial strength and recession resistant business portfolio continues to provide both stability and sustainable growth prospects for our stakeholders. Powered by our ownership mindset, EVA discipline, cash from operations and long-term contracts with global strategic partners, we look forward to growing earnings and returning significant value to shareholders through share repurchases and dividends in 2022 and beyond."