Ball reports third quarter 2025 results

On 4 November 2025, Ball Corporation (NYSE: BALL) reported third quarter 2025 results. References to net sales and comparable operating earnings in today’s release do not include the company’s former aerospace business. Year-over-year net earnings attributable to the corporation and comparable net earnings do include the performance of the company’s former aerospace business through the sale date of 16 February, 2024. 

On a US GAAP basis, the company reported third quarter 2025 net earnings attributable to the corporation of $321 million or total diluted earnings per share of $1.18, on sales of $3.38 billion, compared to $197 million net earnings attributable to the corporation, or total diluted earnings per share of 65 cents on sales of $3.08 billion in 2024.

Ball’s third quarter 2025 comparable net earnings were $277 million, or $1.02 per diluted share compared to $278 million, or 91 cents per diluted share in 2024.

“Ball delivered strong third-quarter results, returning over $1 billion to shareholders in the first nine months of 2025. Our solid financial position, streamlined operating model, and disciplined growth strategy drove higher volumes and operating earnings. As we look to close out the year, we remain vigilant given ongoing geopolitical and macroeconomic volatility, but our team is well-positioned to execute and achieve our 2025 objectives. Continued focus on operational excellence is enhancing manufacturing efficiencies, while investments in innovation and sustainability enable our customers to meet evolving consumer needs. These actions, combined with rigorous cost management, provide resilience in the near term and reinforce our ability to deliver long-term value for our shareholders,” said Daniel W. Fisher, chairman and chief executive officer.

Beverage packaging, North and Central America, segment comparable operating earnings for third quarter 2025 were $210 million on sales of $1.64 billion compared to $203 million on sales of $1.46 billion during the same period in 2024. Third quarter sales reflect higher volume and price/mix.

Third quarter segment comparable operating earnings increased year-over-year due primarily to higher volume, partially offset by price/mix. Year-over-year third quarter segment volume increased mid-single digit%. 

Beverage packaging, EMEA, segment comparable operating earnings for third quarter 2025 were $147 million on sales of $1.06 billion compared to $128 million on sales of $950 million during the same period in 2024. Third quarter sales reflect higher year-over-year shipments and currency translation.

Third quarter comparable operating earnings reflect higher volume. Year-over-year third quarter segment volume increased mid-single digit%. 

Beverage packaging, South America, segment comparable operating earnings for third quarter 2025 were $80 million on sales of $508 million compared to $78 million on sales of $484 million during the same period in 2024. Third quarter sales reflect higher volume.

Third quarter segment comparable operating earnings increased year-over-year driven by higher segment volume. Year-over-year third quarter segment volume increased mid-single digit%.

Non-reportable is comprised of undistributed corporate expenses, net of corporate interest income, the results of the company’s global personal & home care (formerly aerosol packaging) business and beverage can manufacturing facilities in India and Myanmar.

On 21 March 2025, Ball closed on a transaction for the aluminium cups business, which resulted in Ball deconsolidating the business. The financial results of the aluminium cups business are presented in other non-reportable through the date of the transaction.

On 27 August 2025, the company sold 41% of its 51% ownership interest in Ball United Arab Can Manufacturing Company, which resulted in Ball deconsolidating the business and retaining a 10% ownership interest. The financial results of the Saudi Arabian business are presented in other non-reportable through the date of the transaction.

Third quarter results reflect lower comparable operating earnings for the aluminium packaging businesses in other non-reportable, partially offset by lower year-over-year undistributed corporate expenses. 

“Our global business remains resilient, and we are on pace to meet or exceed our financial objectives for the year. We continue to advance our strategic priorities with disciplined execution and a sharp focus on generating strong free cash flow. This performance underpins our expectation to return at least $1.5 billion to shareholders in 2025 and provides the flexibility to invest in sustainable, long-term growth. Our commitment to maintaining a robust financial foundation ensures we can deliver attractive returns today while positioning Ball for continued value creation in the years ahead,” said Daniel J. Rabbitt, senior vice president and interim chief financial officer.

“Building on our strong year-to-date performance, we remain confident in the resilience and momentum of our business as we enter the final quarter. The progress achieved through the first three quarters reflects disciplined execution and positions us to deliver on our guidance of 12–15% comparable diluted EPS growth for 2025. Our teams continue to advance sustainable aluminium packaging with purpose and agility, consistently driving high-quality products, robust free cash flow and EVA growth. At the same time, we remain committed to returning meaningful value to shareholders through share repurchases and dividends. Supported by the strength of the Ball Business System, our global footprint and the dedication of our talented employees, we are well-positioned to achieve our goals and create lasting value for our stakeholders in 2025 and beyond,” Fisher said.