Ball Corporation reports net earnings of $241 million in Q3

Ball Corporation reported net earnings of $241 million on sales of $3.1 billion for the third quarter 2020, compared to $92 million on sales of $3.0 billion in 2019. For the first nine months of 2020, net earnings were $358 million on sales of $8.7 billion, compared to $406 million on sales of $8.8 billion for the first nine months of 2019.

The company said the results reflect the 2019 sale of Argentine steel aerosol business and Chinese beverage can assets, and new segment reporting for the company's beverage packaging, EMEA business and other non-reportable results.

"Our team continues to operate safely while responding to significant growth across our businesses. Capital investments are being executed to support sustained growth for our global aluminum packaging portfolio and aerospace technologies. Our company is well-positioned in the current environment, and our focus remains on our employees' safety and our customers' success, as well as the efficient and effective startup of our various capital projects in order to deliver significant value to our shareholders," said John A. Hayes, chairman, president and chief executive officer.

"During the quarter, our company posted 27 percent comparable earnings per diluted share growth on 9 percent global beverage volume growth and 14 percent aerospace contracted backlog growth.”

“In addition, we recently completed our aluminum aerosol acquisition in Brazil, announced new beverage can manufacturing plants in Pittston, Pennsylvania, as well as Frutal, Brazil, and commenced production at our new aluminum cup manufacturing facility in Rome, Georgia.  With demand continuing to increase for our sustainable aluminum packaging solutions and critical aerospace technologies, Ball remains well positioned to invest in EVA-enhancing capital projects, grow diluted earnings per share, increase cash from operations, and deliver shareholder returns now and into the future," Hayes said.