Ball at a glance. Visit our Learning Center to explore the how and why of cans. ", Beverage Packaging, North and Central America. By NS Packaging Staff Writer 10 Aug 2020 . 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. Ball reports second quarter results. Overview . Ball Reports Strong Third Quarter Results . $Xf�X� BĽ"�A�v���`T\� V��b��=L�Bg@&30����O 1� m �`H�� Ct`��0�=a0&�����,bt�y�eҁ��!���R ie��HX$�`��0��AI#�4@� Charges in the first quarter of 2019 and credits in the first quarter of 2018 were the result of updated estimates for the costs of employee severance and benefits and facility shutdown costs. Our programs cover a wide range of missions, from the JWST to the F-35 Lighting II aircraft. Related organisations: ball corporation. Related core topics: Business news. Ball (BLL) reports earnings on 2/4/2021. Ball Reports Improved Third Quarter Results. %PDF-1.5 %���� 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. It all started on store shelves. The Birmingham plant ceased production during the second quarter of 2018, and the Longview and Chatsworth plants ceased production during the third quarter of 2018. Ball's first-quarter 2019 comparable net earnings were $167 million, or 49 cents per diluted share, compared to $180 million, or 50 cents per diluted share in 2018. (NYSE: BLL) today reported, on a U.S. GAAP basis, first. Given the strength of our cash flow, leverage at optimal levels, last week's dividend increase and our existing repurchase authorization, the company plans to return in excess of $1 billion to shareholders in 2019 and beyond," said Scott C. Morrison, senior vice president and chief financial officer. 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. Information reconciling forward-looking U.S. GAAP measures to non-U.S. GAAP measures is not available without unreasonable effort. Beverage packaging, South America, comparable segment operating earnings for the first quarter of 2019 were $68 million on sales of $441 million, compared to $98 million on sales of $459 million during the same period in 2018. While we still have much work to do to achieve our 2019 financial goals originally laid out in mid-2016, our longer term prospects continue to be bright, and we continue to drive toward our 2019 goals of $2 billion in comparable EBITDA, in excess of $1 billion in free cash flow and exceeding our long-term 10 to 15 percent diluted earnings per share growth goal this year," Hayes said. In aerospace, new program awards for Ball's space hardware and capabilities will drive additional infrastructure investment and hiring to support multiple years of growth. Charges for the first quarter of 2019 are for purchase accounting related intangible amortization and business consolidation costs. Crystal Hinson Miller, chief philanthropy officer for Indiana University Health and president of the IU Health Foundation, is a national leader in healthcare philanthropy. In North America, higher costs related to surplus U.S. aluminum scrap and higher than anticipated plant start-up costs affected first quarter results. Q3 2020 Quarterly Report: Ball Memorial Hospital Foundation joins IU Health Foundation family IU Health Ball Memorial Hospital. 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. Ball Corporation. Other consists of non-reportable segments located in Africa, Middle East and Asia (beverage packaging, AMEA) and Asia Pacific (beverage packaging, Asia Pacific) that manufacture and sell metal beverage containers; a non-reportable segment that manufactures and sells aerosol containers, extruded aluminum aerosol containers and aluminum slugs (aerosol packaging); undistributed corporate expenses; intercompany eliminations and other business activities. This release contains "forward-looking" statements concerning future events and financial performance. "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. 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. Developing solutions to solve your challenges. Quick Facts. Ball said that for the first six months, comparable segment operating earnings were $335 million on sales of $2.4 billion compared to $259 million on sales of $2.4 billion during the same period in 2019 Ball used growth investments and global plant network to meet strong demand for aluminum beverage cans. Aerospace: Consists of operations that manufacture and sell aerospace and other related products and the provision of services used in the defense, civil space and commercial space industries. Despite the Chinese asset sale, non-reportable results are expected to improve year-over-year in the second half. Presentations of earnings and cash flows presented in accordance with U.S. GAAP are available in the company's earnings releases and quarterly and annual regulatory filings. 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. Related topics: financial report. 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. 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. Ball Corporation and its subsidiaries employ more than 18,300 people worldwide and reported 2019 net sales of $11.5 billion. Some of our latest headlines. Overview . BLL Ball Corp Quarterly Report (10-q) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Posted: 10 August 2020. The company's new beverage can manufacturing plant in Paraguay is scheduled to begin production in late 2019. Quick Facts. They should not be considered superior to, or a substitute for, financial measures calculated in accordance with U.S. GAAP and may not be comparable to similarly titled measures of other companies. We welcome the opportunity to support growth for infinitely recyclable aluminum packaging from 11 new beverage can lines and two new extruded aluminum aerosol lines installed across our global plant network since the beginning of 2018. 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. 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). Minimum 15 minutes delayed. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. of $50 million, or 15 cents per diluted share for business consolidation, debt refinancing and other non-comparable. Key milestones since our founding in 1880 . We’ve helped explore the solar system and beyond. %%EOF Leadership. Contracts already won, but not yet booked into current contracted backlog, increased to $4.9 billion. In the second quarter 2017, the company closed its beverage packaging manufacturing facility in Recklinghausen, Germany. Beverage packaging, Europe: Consists of operations in numerous countries in Europe, including Russia, that manufacture and sell metal beverage containers. 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 Industry can demand in South America remains particularly strong as beer customers continue to shift packaging mix from returnable glass to aluminum cans. Credits in the first quarter of 2019 and charges in the first quarter of 2018 were the result of updated estimates for the costs of employee severance and benefits and facility shutdown costs. 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). Nov. 5, 2020, 12:00 PM . Ball’s fourth quarter 2019 comparable net earnings were $238 million, or 71 cents per diluted share versus fourth quarter 2018 comparable net earnings of $191 million or 55 cents per diluted share. Includes undistributed corporate expenses, net, of $23 million and $22 million for the three months ended March 31, 2019 and 2018, respectively. Additional factors that might affect: a) our packaging segments include product demand fluctuations; availability/cost of raw materials and logistics; competitive packaging, pricing and substitution; changes in climate and weather; footprint adjustments and other manufacturing changes; failure to achieve synergies, productivity improvements or cost reductions; mandatory deposit or other restrictive packaging laws; customer and supplier consolidation, power and supply chain influence; changes in major customer or supplier contracts or a loss of a major customer or supplier; political instability and sanctions; currency controls; changes in foreign exchange or tax rates; and tariffs, trade actions, or other governmental actions in any country affecting goods produced by us or in our supply chain, including imported raw materials, such as pursuant to section 232 of the U.S. Trade Expansion Act of 1962; b) our aerospace segment include funding, authorization, availability and returns of government and commercial contracts; and delays, extensions and technical uncertainties affecting segment contracts; c) the company as a whole include those listed plus: changes in senior management; regulatory action or issues including tax, environmental, health and workplace safety, including U.S. FDA and other actions or public concerns affecting products filled in our containers, or chemicals or substances used in raw materials or in the manufacturing process; technological developments and innovations; litigation; strikes; labor cost changes; rates of return on assets of the company's defined benefit retirement plans; pension changes; uncertainties surrounding geopolitical events and governmental policies both in the U.S. and in other countries, including the U.S. government elections, budget, sequestration and debt limit; reduced cash flow; interest rates affecting our debt; and successful or unsuccessful joint ventures, acquisitions and divestitures, including with respect to the Rexam PLC acquisition and its integration, or the associated divestiture; the effect of the acquisition or the divestiture on our business relationships, operating results and business generally. 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