Ball Corporation reports net earnings of $566 million in 2019

Ball Corporation reported 2019 net earnings of $566 million on sales of $11.5 billion, compared to $454 million on sales of $11.6 billion in 2018. The company’s 2019 comparable net earnings were $861 million, from $775 million in 2018.

In the fourth quarter, net earnings stood at $160 million on sales of $2.7 billion, from $151 million on sales of $2.8 billion in the fourth quarter of 2018. Comparable net earnings were $238 million, from comparable net earnings of $191 million.

Ball said results reflect the 2019 sale of the company's Argentine steel aerosol business and Chinese beverage can assets, and the 2018 sale of the company's U.S. steel food and steel aerosol business.

"Over the past year, our global beverage volumes increased 5 percent, our aerospace contracted backlog increased 14 percent and we were able to sell underperforming assets.”

“With global customer and consumer demand for aluminium packaging solutions continuing to outpace existing supply, our previously announced aluminium beverage can and cup projects will add at least 8 billion units of capacity by the end of 2021," said John A. Hayes, chairman, president and chief executive officer.

"Throughout 2020, our focus will be on execution through improving our operational excellence and customer service, amplifying the sustainability benefits of aluminium packaging, and executing beverage and aerospace investment projects. In the near- and long-term, our business portfolio is well positioned to deliver on our financial goals and increase shareholder returns for many more years."