Under U.S. GAAP accounting standards, Ball Corporation reported second quarter 2024 net earnings attributable to the corporation of $158 million compared to $173 million in the prior period. Ball Corporation reported second quarter 2024 net earnings attributable to the corporation of $158 million compared to $173 million in the prior period. Results for the first six months of 2024 were net earnings attributable to the corporation of $3.84 billion. million (including a net after-tax gain of $3.39 billion from the sale of the aerospace business, business consolidation and other non-comparable items) compared to $350 million, or total diluted earnings per share of $1.10, on sales of $6.05 billion in the first six months of 2023.
Daniel W. Fisher, the company’s president and chief executive officer, has stated that “Results are solid in the second quarter and we returned $790 million to shareholders in the first half of 2024. Leveraging our strong financial position and more nimble operating model, the company is uniquely positioned to deliver on our purpose of promoting the widespread use of sustainable aluminum packaging. We continue to complement our purpose by driving innovation and sustainability globally, unlocking additional efficiencies in manufacturing and enabling the ongoing delivery of high-quality, long-term shareholder value.” said .
Beverage Packaging, North and Central America
Comparable operating earnings for the Beverage Packaging, North and Central America segment for the second quarter of 2024 were $210 million on sales of $1.47 billion compared to $175 million on sales of $1.54 billion during the same period in 2023.
The second quarter sales reflect the contractual pass-through of lower aluminum costs partially offset by higher volumes.
Comparable second quarter comparable segment operating profit increased year over year primarily due to lower costs and higher volumes of 1.1 percent in the second quarter.
Aluminum beverage cans continue to outperform other substrates.
Looking ahead, growth supported by business development efforts and innovation in various beverage categories, additional benefits from fixed and variable cost reduction initiatives and improvements in operating efficiencies are expected to improve results through 2024 and beyond.
Beverage Packaging, EMEA
Comparable operating earnings for the Beverage Packaging, EMEA segment for the second quarter of 2024 were $113 million on sales of $880 million compared with $98 million on sales of $920 million during the same period in 2023.
Second quarter sales reflect the contractual pass-through of lower aluminum costs.
Comparable second quarter comparable operating earnings reflect a 6.5 percent increase in volumes and favorable price/mix partially offset by higher costs year over year.
The shift in packaging mix toward aluminum cans, supported by ongoing packaging legislation in certain countries, continues to be a driver of aluminum beverage packaging growth.
Looking ahead, favorable sustainability headwinds and seasonal trends are expected to improve demand throughout the year.
Beverage Packaging, South America
Comparable operating earnings for the Beverage Packaging, South America segment for the second quarter of 2024 were $37 million on sales of $422 million compared with $30 million on sales of $405 million during the same period in 2023.
Second quarter sales reflect lower volumes more than offset by price/mix.
Second quarter comparable segment operating profit increased year over year driven by favorable price/mix, partially offset by the impact of continued disruptive economic and operating conditions in Argentina that led to lower overall segment volume by 3.2 percent in the second quarter.
In Argentina, the company continues to serve customers and assess risks given the dynamic economic and political environment.
Across South America, multi-year initiatives with customers to increase the use of sustainable aluminum packaging are expected to continue.
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