Ball Corp Shares Decline Despite Q2 Earnings Beat

Ball Corporation Reports Mixed Results for Second Quarter

WESTMINSTER, Colo. – Ball Corporation announced its second-quarter earnings, revealing an adjusted earnings per share (EPS) of $0.74, which exceeded analyst forecasts by $0.04. However, the company’s revenue of $2.96 billion fell short of the expected $3.1 billion.

Following the earnings report, shares of Ball Corporation experienced a 2% decline.

In its second-quarter performance, the company noted a 2.8% rise in global beverage can shipments and a 5.6% increase in global aluminum aerosol shipments. Year-over-year comparisons showed a decrease in net sales, dropping from $3.07 billion to $2.96 billion.

Chairman and CEO Daniel W. Fisher remarked on the results, stating, "We delivered strong second quarter results and returned $790 million to shareholders in the first half of 2024." He highlighted the company’s commitment to promoting sustainable aluminum packaging while focusing on long-term shareholder value.

Looking forward, company executives expressed optimism about future performance. Howard Yu, executive vice president and chief financial officer, stated, "Our global business performance remains strong and on track to deliver or exceed against our stated goals." The company aims for mid-single-digit comparable diluted EPS growth and strong free cash flow for 2024. Additionally, Ball Corporation plans to return over $1.6 billion to shareholders by the end of the year.

This article was generated with the support of AI and reviewed by an editor.