Ball Corporation reports strong Q2 2021 results
Ball reported second-quarter 2021 net earnings of $202 million (€171 million) on sales of $3.5 billion (€2.9 billion), compared to $94 million (€79 million) net earnings on sales of $2.8 billion (€2.3 billion) in 2020.
Results for the first six months of the year were net earnings of $402 million (€340 million) on sales of $6.6 billion (€5.5 billion), compared to $117 million (€99 million) on sales of $5.6 billion (€4.7 billion) for the first six months of 2020.
John Hayes, chairman and CEO of Ball, said: “During the quarter, the company increased comparable earnings per diluted share by 32% on 13% aluminium beverage volume growth, and 20% aluminium aerosol growth, and secured new aerospace contracts to achieve record backlog.
“In addition to global operations executing at a high level, the company started up at the new Pittston, Pennsylvania beverage can manufacturing facility, initiated further global capacity investments and successfully launched The Aluminium Cup at retail in the US.
“Global projects in North America, South America and EMEA are supported by long-term contracts and will contribute meaningfully to 2021 and beyond.”
During the quarter, Ball’s global aluminium aerosol volumes increased by 20% compared to 2020. The company said customers continue to pursue sustainable personal care packaging solutions, including Ball’s new Infinity aluminium bottle.
Ball’s second quarter and year-to-date 2021 comparable earnings per diluted share were $0.86 and $1.58 respectively, compared to Q2 and year-to-date 2020 comparable earnings per diluted share of $0.65 and $1.26, respectively.
In the company outlook, Ball noted that it is well-positioned for long-term growth.
“We continue to perform at a high level despite certain transitionary inefficiencies and costs,” said Hayes. “Our talented team, Drive for 10 vision, enduring culture, capital allocation discipline and strong demand for our sustainable packaging and technologies will enable our long-term growth.
“In 2021 and beyond, we look forward to growing our cash from operations and EVA dollars on an even larger capital base while returning capital to our shareholders and exceeding our long-term diluted earnings per share growth goal of at least 10-15%.”