BALL INCREASES RESULTS IN THE FIRST QUARTER OF THE YEAR

The multinational Ball Corporation has announced earnings of close to US$446 million for the first quarter of the year on a US GAAP basis.

Daniel W. Fisher, chairman and chief executive officer, confirms the data, noting that “we delivered solid first quarter results amid significant geopolitical and economic conditions in several regions where we operate. Comparable diluted earnings per share and comparable operating earnings increased 7 percent and 6 percent, respectively,” to which he adds that “our global team executed at a high level to navigate persistent supply chain disruptions and inflation, while putting capital projects in place on time and on budget to meet growing customer demand in our global aerospace and packaging businesses. brighter future for our company.”

Regarding the war in Ukraine, the executive emphasizes that “we remain deeply concerned about the ongoing war in Ukraine and our focus remains on the safety and well-being of our employees. Through our global employee giving and assistance programs, The Ball Foundation and employee volunteerism, we will continue to support each other. and those in need through our proven ability to generate EVA-enhancing returns on capital and deliver innovative and sustainable products and technologies to our customers while adapting to change at an accelerated pace.

For beverage packaging in North and Central America, earnings were US$174 million, reflecting an increase in shipments, the contractual pass-through of higher aluminum costs and a better price mix.

As a result, first-quarter comparable segment operating profit increased 24% year over year. In addition, the segment’s specialty can mix increased to 38% to support customer demand for sustainable aluminum beverage packaging solutions to enable new brands, retail price points and delivery channels.

Finally, the company highlights the importance of existing projects to expand the company’s new beverage can manufacturing facilities in Glendale, Arizona, and Pittston, Pennsylvania, as well as the construction of a new beverage can manufacturing plant in North Las Vegas, Nevada, continue. They are also supported by contracts with enhanced contractual terms and conditions for long-term volume with strategic global and regional customers representing multiple beverage categories.

In the case of South America, first quarter earnings were US$78 million. On the other hand, unfavorable weather conditions, recent economic volatility in Brazil, customer mix and difficult year-over-year volume comparisons led to a 21% decline in segment volume during the quarter.

However, demand in the company’s South American presence outside Brazil remains favorable and growth capital projects in Chile and Argentina are on track to support growing customer demand for sustainable aluminum packaging.

“The company is well positioned for near and long-term growth, cost/price recovery and accelerated return of value to shareholders despite our recent decision to exit Russia. Driven by our ownership mentality, EVA discipline, cash from operations and long-term contracts with strategic global partners, we expect to grow earnings and return significant value to shareholders through share repurchases and dividends in 2022 and beyond,” concludes Scott C. Morrison, executive vice president and chief financial officer.