Ball Corporation reports improved 2018 results driven by growing demand for metal packaging

Ball Corporation reported 2018 net earnings attributable to the corporation of $454 million on sales of $11.6 billion, compared to $374 million net earnings attributable to the corporation on sales of $11.0 billion in 2017. Ball's full-year 2018 comparable net earnings were $775 million, from $728 million in 2017.

In the fourth quarter of 2018, net earnings attributable to the corporation were $151 million on sales of $2.8 billion compared to $159 million on sales of $2.7 billion in the fourth quarter of 2017.

John A. Hayes, chairman, president and chief executive officer said: "Our improved 2018 results were driven by growing global demand for our metal packaging products and aerospace capabilities, as well as numerous initiatives to lower corporate costs, and in the second half, were partially offset by the July 2018 sale of the U.S. steel food and steel aerosol business, the transition away from a beverage ends supply agreement in Brazil and the negative impact of poor quality aluminium can sheet from a U.S.-based supplier.”

"Ball Corporation begins the year well positioned to achieve our 2019 goals of $2 billion in comparable EBITDA and in excess of $1 billion in free cash flow due to continuing strong demand for environmentally favoured aluminium packaging and our strong and growing aerospace backlog. With cash flow growing, leverage at optimal levels and the board's recent 50 million share repurchase authorization, the company plans to return in excess of $1 billion to shareholders in 2019 and beyond through a combination of share repurchases and dividends."

The company remains focussed focused on commercializing its sustainable aluminium packaging solutions across customers' product categories while also supporting unprecedented growth in aerospace business.

“In 2019, we look forward to exceeding our long-term 10 to 15 percent diluted earnings per share growth goal."