Ball Corporation has announced its first-quarter 2020 results, showing the company’s Q1 comparable net earnings were $202 million (€185 million) or $0.61 (€0.56) per diluted share against Q1 2019 comparable net earnings of $167 million (€153 million) or $0.49 (€0.45) per diluted share.
According to Ball Corp, the company’s Q1 2020 results reflect the 2019 sale of its Argentina-based steel aerosol business and Chinese beverage can assets. John A Hayes, Ball Corp’s chairman, president, and CEO, said the company posted 24% comparable earnings per diluted share growth and 12% operating earnings growth across the corporation. The firm’s aluminium aerosol business grew operating earnings by 5%.
“First and foremost, we extend our gratitude to our front-line manufacturing teams, our supply chain and our customers for their dedication to working safely and maintaining a reliable supply of packaging, aerospace technologies and services to our customers and consumers,” said Hayes.
“Ball is fortunate to have a strong balance sheet, ample liquidity, a ‘can do’ culture and a business model that has successfully weathered other turbulent economic times over our 140-year history.
“Our company is humbled by the resiliency with which we were able to execute our strategy, maintain employment across global economies and give back to the communities where we operate.”
According to Hayes, with customer and consumer demand for aluminium packaging solutions continuing to outpace existing supply in North America, and Ball Corp’s aerospace business supporting “critical missions” for the US Government, its previously announced growth projects are on track to add “much-needed capacity” throughout 2020 and beyond.
“Our global business is resilient and, though certain regions may be impacted more significantly during the second quarter due to the socioeconomic dynamics associated with the pandemic, the long-term demand for our products continues to be strong and our strategy remains intact,” commented Hayes.
“We are focused on working safely, improving our operational excellence, amplifying the sustainability benefits of aluminium packaging, and executing on previously announced growth projects. Ball remains well positioned to grow diluted earnings per share and deliver shareholder returns now and into the future.”