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Mar 31, 2024
Ball Q1 2024 Earnings Report
Ball reported strong first quarter results, deleveraged significantly, and returned capital to shareholders after selling its aerospace business.
Key Takeaways
Ball Corporation reported a net earnings attributable to the corporation of $3.69 billion, or $11.61 per diluted share, on sales of $2.87 billion. The results include a net after-tax gain of $3.47 billion from the sale of the aerospace business. Comparable earnings per share were 68 cents, and the company returned $245 million to shareholders.
U.S. GAAP total diluted earnings per share was $11.61, including gain on aerospace sale, compared to 56 cents in 2023.
Comparable diluted earnings per share was 68 cents compared to 69 cents in 2023.
Global beverage can shipments increased 3.7%.
The company deleveraged and returned $245 million to shareholders via share repurchases and dividends.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Ball is positioned to achieve comparable diluted earnings per share growth, generate strong free cash flow, and return in excess of $1.5 billion to shareholders through share repurchases and dividends in 2024.
Positive Outlook
- Strong cash flow and cash on hand will support business investments.
- Company will pay quarterly taxes due on the aerospace sale totaling approximately $1.0 billion.
- Share repurchases are expected to expand to in the range of $1.3 billion by year end.
- Strategic actions have strengthened the company in the short- to medium-term.
- Company is positioned for opportunity over the long-term.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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