Earnings release
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Ball Corporation - Ball Reports Strong First Quarter 2021 Results ballcorp.gcs-web.com/news-releases/news-release-details/ball-reports-strong-first-quarter-2021-results Highlights - U.S. GAAP earnings per diluted share of 60 cents vs. 7 cents in 2020 - Comparable earnings per diluted share of 72 cents vs. 61 cents in 2020 ; an increase of 18 % Global beverage can volumes up 8 % ; specialty mix exceeds 49 % - Contracted aerospace backlog of $ 2.2 billion and won - not - booked backlog of $ 5.3 billion - Successful start - up of Glendale , Arizona , beverage can manufacturing facility ; four lines operational by late 2021 - Executed national distribution of Ball Aluminum Cup ™ at retail - Positioned to exceed long - term diluted earnings per share growth goal of 10 to 15 % WESTMINSTER , Colo . , May 6 , 2021 / PRNewswire / -- Ball Corporation ( NYSE : BLL ) today reported , on a U.S. GAAP basis , first quarter 2021 net earnings attributable to the corporation of $ 200 million ( including net after - tax charges of $ 40 million , or 12 cents per diluted share for business consolidation and other non - comparable items ) , or 60 cents per diluted share , on sales of $ 3.1 billion , compared to $ 23 million net earnings attributable to the corporation , or 7 cents per diluted share ( including net after - tax charges of $ 179 million , or 54 cents per diluted share for business consolidation and other non comparable items ) , on sales of $ 2.8 billion in 2020. Ball's first quarter 2021 comparable net earnings were $ 240 million , or 72 cents per diluted share , compared to $ 202 million , or 61 cents per diluted share in 2020 . Details of co ble segment earnings , business consolidation activities , business segment descriptions and other non comparable items can be found in the notes to the unaudited condensed consolidated financial statements that accompany this news release . References to volume data represent units shipped . During the quarter , the company increased comparable earnings per diluted share by 18 % on 8 % global beverage volume growth and maintained strong aerospace backlog . In addition to focusing on team safety , the company's EMEA and South American beverage can businesses experienced notably stronger comparable earnings , the new beverage can manufacturing facility in Glendale , Arizona , started production and the Ball Aluminum Cup ™ began national rollout distribution at retail late in the quarter . Significant demand growth for sustainable aluminum packaging continues to outstrip global supply and the cadence of capital investments to address contracted customer demand is accelerating . " Positive momentum continues across our company despite anticipated startup costs and isolated operational impacts in our North American beverage can business due to winter storms and aerospace customer supply - chain disruptions experienced during the quarter . Global projects in North America , South America and EMEA are expected to add at least 25 billion units of contracted beverage can capacity by year - end 2023 ( off a 2019 base of 100 billion units ) , projects are on track and will contribute meaningfully to 2021 and beyond . Our focus remains on our employees ' safety , training and development , the efficient startups of EVA - enhancing capital projects to serve our customers ' growth , the successful retail launch of the Ball Aluminum CupTM and delivering value to our stakeholders in 2021 and beyond , " said John A. Hayes , chairman and chief executive officer . Beverage Packaging , North and Central America Beverage packaging , North and Central America , comparable segment operating earnings for the first quarter 2021 were $ 140 million on sales of $ 1.3 billion compared to $ 146 million on sales of $ 1.2 billion in 2020 . Comparable segment earnings reflect 6 % volume growth , the benefits from new contractual terms and higher specialty mix being more than offset by startup costs associated with three new manufacturing plants and the impact of lost production from winter storms . Demand for aluminum beverage cans and bottles continues to outstrip supply across North America . The company's new Glendale , Arizona , facility successfully started up during the first quarter , and the company anticipates the new Pittston , Pennsylvania , facility to start beverage can production by the end of second quarter . The company further anticipates Glendale and Pittston to exit 2021 with four lines operational in each facility . As needed , both facilities are scalable to add incremental capacity throughout 2022 and beyond to serve consumer's growth for sustainable packaging , new product introductions and to offset cans currently being imported . The timeline for the company's recently announced construction of a new aluminum end manufacturing facility in Bowling Green , Kentucky , has been accelerated to align end capacity with even higher can demand . Bowling Green end manufacturing is now scheduled to begin in late 2021. Full - year 2021 startup costs are still anticipated to be in the range of $ 50 million . Beverage Packaging , EMEA 1/14