Ball reports strong 2020 results
Ball Corporation has announced full-year 2020 net earnings of $585 million.
The company’s full-year 2020 comparable net earnings were $987 million, or $2.97 per diluted share, compared to $861 million, or $2.53 per diluted share in 2019.
Fourth quarter 2020 net earnings were $227 million, or 68 cents per diluted share, on sales of $3.1 billion compared to $160 million, or 48 cents per diluted share, on sales of $2.7 billion in the fourth quarter of 2019.
Its fourth quarter 2020 comparable net earnings were $272 million, or 81 cents per diluted share versus fourth quarter 2019 comparable net earnings of $238 million, or 71 cents per diluted share.
Results reflect the 2019 sale of the company’s Argentine steel aerosol business and Chinese beverage can assets, and new segment reporting for the company’s beverage packaging, EMEA business and other non-reportable results. References to volume data represent units shipped, and year-over-year global beverage volumes referenced exclude the impact of the 2019 sale of the Chinese beverage can assets.
During the quarter, the company posted 14% comparable earnings per diluted share growth on 12% global beverage volume growth and 18% growth in funded and unfunded aerospace backlog. In addition, the successful fourth quarter startup of the company’s aluminium cup manufacturing facility in Rome, Georgia, will support the North American retail launch of the new aluminium cup during the first half of 2021.
“We finished 2020 with positive momentum. Significant demand growth for our aluminium packaging products and aerospace technologies continues, full-year comparable diluted earnings per share increased 17%, and our strong balance sheet and cash flow from operations underpinned $1.1 billion of capital investments to address sustainable growth across our global operations. Our company continues to be well-positioned, and our focus remains on our employees’ safety, our customers’ success, the efficient startup of various multi-year, EVA-enhancing capital projects, and the training and development of our workforce to ensure value creation for our stakeholders in 2021 and beyond,” said John A Hayes, chairman and chief executive officer.