Ball reports Q3 results
Ball Corporation has reported third quarter 2021 net earnings attributable to the corporation of $179 million. Results for the first nine months of 2021 were net earnings attributable to the corporation of $581 million. During the quarter, the company increased comparable earnings per diluted share by 6%.
Beverage Packaging, North and Central America
Beverage packaging, North and Central America, comparable segment operating earnings for the third quarter 2021 were $186 million on sales of $1.5 billion compared to $209 million on sales of $1.3 billion in 2020. Third quarter comparable segment earnings reflect 1% volume growth,
Demand for aluminium beverage packaging continues to outstrip supply across North America. The company’s new Glendale, Arizona, facility successfully started up its fourth line during the quarter, and the new Pittston, Pennsylvania, facility started up its third beverage can production line late in the third quarter. Project execution is on target and recently announced additional capacity investments in Nevada and North Carolina will serve long-term committed volume with global and regional strategic customers serving all beverage categories.
The company’s new aluminium end manufacturing facility in Bowling Green, Kentucky, recently started production and full-year 2021 startup costs are still anticipated to be in the range of $50 million.
Beverage Packaging, EMEA
Beverage packaging, EMEA, comparable segment operating earnings for third quarter were $125 million on sales of $937 million compared to $117 million on sales of $809 million in 2020.
Third quarter comparable segment earnings reflect 4% segment volume growth, higher specialty mix and strong year-over-year consumption trends across Europe. Packaging mix shift to sustainable aluminium cans continues, and demand is outstripping supply. Line speed ups and greenfield projects in the U.K., Russia and Czech Republic supported by long-term contracts are on track and will enable growing demand for aluminium beverage cans in 2021 and beyond.
Beverage Packaging, South America
Beverage packaging, South America, comparable segment operating earnings for third quarter were $74 million on sales of $462 million compared to $64 million on sales of $432 million in 2020.
Segment volume ended the quarter down 18% compared to significantly higher third quarter 2020 volumes, which were up 30% versus the third quarter of 2019 due to timing effects related to the Covid-19 pandemic. In Brazil, underlying demand remains strong and customer demand inflected upward in September and is expected to be strong throughout the busy fourth quarter summer selling season.
The previously announced multi-line facility in Frutal, Brazil, recently began production and additional investments across our existing South American footprint continue.
Aerosols and aluminium bottles
During the quarter, the company’s global aluminium aerosol volumes increased 15% versus 2020, and customers continue to pursue sustainable personal care packaging solutions including the company’s new Infinity aluminium bottle and refillable aluminium bottles for new categories.