Ball Corporation reports strong results in Q1 driven by improved performance in all product lines

Ball Corporation reported net earnings of $125 million in the first quarter of 2018 compared to $68 million in last year’s first quarter. Excluding items, the company posted adjusted earnings of $180 million compared to $136 million last year.

"Ball Corporation started the year strong, posting improved performance across each of our product lines, with comparable operating earnings up 13 percent in our global beverage operations, 19 percent in our aerospace business and 10 percent in our food and aerosol business and with lower overall corporate costs year-over-year.”

“In our global beverage can business, overall volumes were up low single-digits in the quarter, driven largely by continued strong performance in South America and Europe. Global consumers continue to support the beverage can as the most sustainable package relative to less environmentally friendly packages. In addition, our food and aerosol segment improved operational efficiencies on recently deployed tinplate flat sheet production and aluminium aerosol capital investments and our aerospace business grew operating earnings in line with revenue growth," said John A. Hayes, chairman, president and chief executive officer.

Ball continues to reaffirm its financial goals of $2 billion of comparable EBITDA and in excess of $1 billion of free cash flow in 2019.

“Aluminium packaging continues to be consumers' package of choice given the world's deep concerns about plastic pollution versus the very high recycling rates for economically viable, infinitely recyclable metal packaging.”

"Throughout 2018 and beyond, we are intensely focused on promoting aluminum packaging, executing on our growth capital projects including the related North American network optimization and ensuring the appropriate value for the diverse product portfolio we deliver to our global customers," Hayes said.