Ball's Revolutionary Lightweight Aluminum Aerosol Technology. During the quarter, higher than expected global can demand driven by customers' shifting mix and new product launches to aluminum packaging helped drive stronger revenue growth. Ball's first quarter 2020 comparable net earnings were $202 million, ... First quarter results reflect the 2019 sale of the company's Argentine steel aerosol business and Chinese beverage can assets, and new segment reporting for the company's beverage packaging, EMEA business and other non-reportable results. h��Xmo�8�+���P[��bCqi�n֮h��E>���K� ����)K��$M�{� kZ��G$���PiJ(*͈���(a6d�$ܴp�gZ"3�"��*��J��H�E��%%�R�e�IA��0w�@c� ���A�FK�Z�&K�4Ix�L�8�XMD�5j�!8h�^�5�W3F4�8�I�c h��p ��$h:AM��ɝq%׍?�œ�8E�2|�6�5��[|2�������bT߉�E4� ��g�,D�EJ�a�F�U�(f5a���}�3,g_�5z�YU;|_)�d These charges were recorded in the line equity in results of affiliates, net of tax in Ball's unaudited condensed consolidated statements of earnings. Ball at a glance. %%EOF We will continue to navigate short-term start-up inefficiencies and cost inflation to position Ball for the best long-term outcome in advance of contract renewals. Details of comparable segment earnings, business consolidation activities and other non-comparable items can be found in the notes to the unaudited condensed consolidated financial statements that accompany this news release. Results reflect the sale of the company's U.S. steel food and steel aerosol business effective July 31, 2018 . of $50 million, or 15 cents per diluted share for business consolidation, debt refinancing and other non-comparable. Not long ago, the company put out its new quarterly report, and the results did not shock Dragon Ball fans. Includes undistributed corporate expenses, net, of $23 million and $22 million for the three months ended March 31, 2019 and 2018, respectively. From looking back on our storied past, we’ve set a plan in motion for an even more promising future. 4687 0 obj <>/Filter/FlateDecode/ID[<4F6D1BAAFDC7164D95B320B73426833E>]/Index[4669 49]/Info 4668 0 R/Length 90/Prev 202282/Root 4670 0 R/Size 4718/Type/XRef/W[1 2 1]>>stream … Ball Corporation supplies innovative, sustainable packaging solutions for beverage, personal care and household products customers, as well as aerospace and other technologies and services primarily for the U.S. government. Related topics: financial report. Quarterly results improved due to mid-single digit can volume growth and continued favorable category and specialty can packaging mix shift in the sparkling water, beer, wine, energy and spiked sparkling seltzer categories, and were largely offset by unfavorable U.S. aluminum scrap rates, a challenging ramp up for two of four lines at our new Goodyear, Arizona, facility and incremental costs to serve double-digit specialty can growth. Comparable Earnings Before Interest, Taxes, Depreciation and Amortization (Comparable EBITDA), Comparable Operating Earnings, Comparable Net Earnings and Net Debt – Comparable EBITDA is earnings before interest, taxes, depreciation and amortization, business consolidation and other non-comparable costs. Ball Corporation BLL is scheduled to report first-quarter 2020 results on May 7, before the opening bell.Which Way are the Estimates Headed?The Zacks Consensus Estimate for Ball … Ball Corporation has reported third quarter 2020 net earnings of $241 million compared to $92 million in 2019. It all started on store shelves. Leadership. Net Debt is total debt less cash and cash equivalents, which are derived directly from the company's financial statements. (NYSE: BLL) today reported, on a U.S. GAAP basis, first. Ball Corporation. In North America, higher costs related to surplus U.S. aluminum scrap and higher than anticipated plant start-up costs affected first quarter results. The company also has investments in operations in Guatemala, Panama, South Korea, the U.S. and Vietnam that are accounted for under the equity method of accounting and, accordingly, those results are not included in segment sales or earnings. Oct. 31, 2019, 11:00 AM. The market expects Ball (BLL) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2019. We have not provided guidance for the most directly comparable U.S. GAAP financial measures, as they are not available without unreasonable effort due to the high variability, complexity and low visibility with respect to certain special items, including restructuring charges, business consolidation and other costs, gains and losses related to acquisition and divestiture of businesses, the ultimate outcome of certain legal or tax proceedings and other non-comparable items. Shares are down 2.7% since reporting last quarter. Quick Facts. Social Media. Events. The company's announced sale of its Chinese beverage can assets received antitrust approval and the transaction is expected to close in the second half of 2019. Related organisations: ball corporation. Words such as "expects," "anticipates," "estimates," "believes," "targets," "likely," "positions" and similar expressions typically identify forward-looking statements, which are generally any statements other than statements of historical fact. Related core topics: Business news. These items are uncertain, depend on various factors and could be material to our results computed in accordance with U.S. GAAP. We’ve helped explore the solar system and beyond. Visit our Learning Center to explore the how and why of cans. Data Provided by Refinitiv. �RvP��(Ԟ(8x���p� *��a�R8�B�H�Dmr�OOO�e1F�1f�n��H��K>Y‹��ZL�I|�#pT�OW��������xp�/���h�|��~?��G�W͛q�!�p����?�e�|{}(�����7��C��|>)��'�8q92��R���E���L?����᱆����hL�8���$XB��W������v���lh���i9y>. Leadership. This compares to earnings of … A summary of the effects of the above transactions on earnings before interest and taxes is as follows: Add: Net earnings attributable to noncontrolling interests, Less: Equity in results of affiliates, net of tax. Weighted average shares outstanding (000s): Unaudited Condensed Consolidated Statements of Cash Flows, Cash provided by (used in) operating activities, Cash provided by (used in) investing activities, Net issuances (purchases) of common stock, Cash provided by (used in) financing activities, Effect of currency exchange rate changes on cash, cash equivalents and restricted cash, Change in cash, cash equivalents and restricted cash, Cash, cash equivalents and restricted cash - beginning of period, Cash, cash equivalents and restricted cash - end of period (a). 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. You should therefore not place undue reliance upon any forward-looking statements and any such statements should be read in conjunction with, and, qualified in their entirety by, the cautionary statements referenced below. Ball Reports Strong Third Quarter Results. Please use the following URL for a webcast of the live call: https://edge.media-server.com/m6/p/pri3eydh, For those unable to listen to the live call, a taped replay will be available from 11 a.m. Mountain time on May 2, 2019, until 11 a.m. Mountain time on May 9, 2019. 4669 0 obj <> endobj Some of our latest headlines. The company recorded its proportional share of non-comparable costs of its equity method affiliate, Ball Metalpack. Comparable Net Earnings is net earnings attributable to Ball Corporation before business consolidation and other non-comparable costs after tax. "The company's financial position is strong, our debt portfolio is well positioned with low, fixed interest rates and our recently amended and extended credit facility provides ample financial flexibility to invest in disciplined growth and return value to shareholders. PRESS RELEASE PR Newswire . Ball Reports Improved Second Quarter 2017 Operating Results; Reaffirms Goals. Quarterly year-over-year segment earnings improvement will continue throughout 2019. "Growth trends in our packaging and aerospace businesses continue to gain momentum. 4717 0 obj <>stream See what's coming up and where you can find us. In the News. Conference Call Details Ball Corporation (NYSE: BLL) will hold its first quarter 2019 earnings call today at 9 a.m. Mountain time (11 a.m. Eastern). Despite the Chinese asset sale, non-reportable results are expected to improve year-over-year in the second half. But the constant quest for innovation never ends. Condensed Financial Statements (First Quarter 2019), Unaudited Condensed Consolidated Statements of Earnings, ($ in millions, except per share amounts), Cost of sales (excluding depreciation and amortization), Business consolidation and other activities, Equity in results of affiliates, net of tax, Net earnings attributable to noncontrolling interests, Net earnings attributable to Ball Corporation. endstream endobj 4670 0 obj <>/Metadata 81 0 R/PageLayout/OneColumn/Pages 4665 0 R/StructTreeRoot 126 0 R/Type/Catalog>> endobj 4671 0 obj <>/ExtGState<>/Font<>/XObject<>>>/Rotate 0/StructParents 0/Type/Page>> endobj 4672 0 obj <>stream Key milestones since our founding in 1880 . Throughout 2019, continued volume growth, net fixed cost savings, lower start-up costs, customer product mix and improved aluminum can sheet quality are expected to add significantly to results. In the second quarter 2017, the company closed its beverage packaging manufacturing facility in Recklinghausen, Germany. Year-over-year results in non-reportable reflect the dilutive impact of the July 31, 2018, sale of the U.S. steel food and steel aerosol business partially offset by mid-single digit volume growth in the company's retained global aluminum aerosol business driven by strong demand for personal care aluminum aerosol packaging for deodorant, hair care and body sprays. A summary of the effects of the above transactions on after tax earnings is as follows: Add: Business consolidation and other activities, Add: Amortization of acquired Rexam intangibles, Add: Share of equity method affiliate non-comparable costs, Net earnings attributable to Ball Corporation before above transactions (Comparable Net Earnings), Per diluted share before above transactions. Ball Corporation and its subsidiaries employ more than 18,300 people worldwide and reported 2019 net sales of $11.5 billion. 5 min read. Key factors, risks and uncertainties that could cause actual outcomes and results to be different are summarized in filings with the Securities and Exchange Commission, including Exhibit 99 in our Form 10-K, which are available on our website and at www.sec.gov. Year-to-date the company hired more than 300 people into this business with an additional 600 employees required within the next twelve months. Ball Reports Improved Third Quarter Results. 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