Ball Corporation reports improved third quarter results driven by strong operational performance

Ball Corporation announced third quarter 2018 net earnings attributable to the corporation of $59 million on sales of $2.9 billion compared to $48 million net earnings attributable to the corporation on sales of $2.9 billion in third quarter 2017.

During January-September 2018 net earnings attributable to the corporation of $303 million on sales of $8.8 billion compared to $215 million on sales of $8.2 billion during January-September 2017.

John A. Hayes, chairman, president and chief executive officer said: "Improved third quarter results were driven by strong operational performance in every one of our businesses, as well as lower corporate costs, and were partially offset by a higher effective tax rate and incrementally higher transportation costs and other start-up costs during the completion of the complex, multi-plant network optimization program."

Ball's third quarter and year-to-date 2018 comparable earnings per diluted share were 56 cents and $1.65, respectively, compared to third quarter and year-to-date 2017 comparable earnings per diluted share of 52 cents and $1.44, respectively.

"The growing global demand for environmentally favored aluminium beverage and aerosol cans, as well as continued growth in our aerospace backlog, positions the company for sustainable long-term growth."

"We remain on track to return in excess of $800 million to our shareholders in 2018 via share repurchases and dividends, and continue to reaffirm our financial goals of $2 billion of comparable EBITDA and in excess of $1 billion of free cash flow in 2019."