Ball Corporation (BALL)

Ball Corporation reported second-quarter 2026 sales of $4.00 billion, up from $3.34 billion a year earlier 3. Net earnings attributable to the corporation were $221 million, or 83 cents a diluted share 3.

Sales rose mainly on higher volume and higher aluminum prices, which Ball passes through to customers under its contracts 3. Global aluminum packaging shipments increased 4.3 percent in the quarter 3.

The largest segment, North and Central America, earned $207 million of comparable operating earnings against $212 million a year before, as higher costs, including plant start-up costs, outweighed the gain from volume 3.

The company expects comparable diluted earnings per share growth of 10-plus percent and free cash flow greater than $900 million in 2026 3. It also says it is on track to return at least $800 million to shareholders by year-end 3.

On 19 October 2026 Ball named Carey Causey president of beverage packaging for North and Central America, succeeding Kathleen Pitre 4. Scott Vail takes over Europe, the Middle East and Africa when Mandy Glew retires in January 2027 4.

Ball was organized in 1880 and incorporated in Indiana in 1922 1. It now calls itself one of the world's leading suppliers of aluminum packaging for the beverage, personal care and household products industries 1.

Ball agreed in 2023 to sell that business to BAE Systems and closed the sale on 16 February 2024 for $5.6 billion 1. The sale produced a pre-tax gain of $4.61 billion 1.

Net sales were $12.06 billion in 2023 and $11.80 billion in 2024 1. They rose to $13.16 billion in 2025 1.

The 2025 rise of $1.37 billion came from $713 million of higher volume, $579 million of price and mix, mostly higher aluminum prices, and $177 million of currency translation 1.

Net earnings attributable to Ball were $4.01 billion in 2024 and $912 million in 2025 1. The drop came mainly from discontinued operations, the former aerospace business, which no longer adds earnings 1.

Ball spent $1.71 billion on share repurchases in 2024 and $1.32 billion in 2025 1.

In October 2024 Ball acquired Alucan Entec, with sites in Belgium and Spain that make extruded aluminum packaging, for $88 million 1. In February 2025 it paid $160 million in cash for Florida Can Manufacturing 1.

In March 2025 Ball formed a partnership for its aluminum cups business in which Ball owns 49 percent 1. In August 2025 it sold 41 percent of its 51 percent stake in its Saudi Arabian can business and kept 10 percent 1.

On 10 November 2025 the board appointed Ronald Lewis chief executive, succeeding Daniel Fisher, and elected Stuart Taylor chairman 6. The company said the departure was not related to any disagreement with it 6.

Aluminum beverage cans

Aluminum beverage containers are Ball's largest product line, sold mainly under multi-year supply contracts to fillers of soft drinks, beer, energy drinks and other beverages 1. Most contracts pass aluminum price changes through to customers, which limits Ball's exposure to metal costs 1.

North and Central America is the largest segment, 48 percent of 2025 net sales, or $6.29 billion 1. Ball says it is the largest producer in the region, shipping about 50 billion cans in 2025, roughly 36 percent of shipments 1.

Europe, the Middle East and Africa made up 30 percent of 2025 sales, or $3.98 billion 1. Ball says it is the largest producer there, with an estimated 39 percent of shipments 1.

South America made up 16 percent of 2025 sales, or $2.16 billion 1. Ball says it is the largest producer in that region, with an estimated 46 percent of shipments in 2025 1.

By the company's own profit measure, comparable operating earnings, the three segments earned 12 percent, 12 percent and 15 percent of their 2025 sales, in North and Central America, EMEA and South America 1.

Personal and home care, and other

Personal and home care makes extruded aluminum aerosol containers, recloseable aluminum bottles and aluminum slugs, and was under 5 percent of 2025 sales 1. Ball shipped 1.5 billion of these containers, about 21 percent of that market 1.

A small beverage operation in India and Myanmar sits outside the main segments, with three facilities 1.

Plants, people and rivals

Ball's North and Central America can plants number 17 in the U.S., one in Canada and two in Mexico 1. Its headquarters are in Westminster, Colorado 1.

At the end of 2025 Ball and its subsidiaries employed approximately 16,000 people, about 5,000 of them in the U.S. 1.

Ronald Lewis has been chief executive since November 2025 1. Daniel Rabbitt was appointed chief financial officer on 10 November 2025 6. Two new directors, Darlene Nicosia and Sherry Buck, joined the board on 21 September 2026 5.

Ball says competition in packaging is intense 1. Its cans compete with plastic soft drink bottles made from PET and with single serve and returnable beer bottles 1. The filing does not name rival can makers in this passage 1.

The umbrella, in words

Ball sells under its own name to beverage, personal care and household products companies, and its filing names no separate consumer brands 1. Its subsidiary list, Exhibit 21, shows many companies owned 100 percent, such as Ball Beverage Can Americas Inc., formerly Rexam Beverage Can Americas Inc., in Delaware 7.

Stakes: Ball owns 49 percent of Oasis Venture Holdings LLC, the aluminum cups partnership with Ayna.AI LLC 1. It kept a 10 percent interest in its former Saudi Arabian can business 1. It also reports equity-method investments in the U.S., Guatemala, Panama and Vietnam 1.

In January 2026 Ball bought an 80 percent share of Benepack's European can business from ORG Technology Co. Ltd. for $218 million in total consideration, and ORG keeps 20 percent 1. The business has two plants, one in Belgium and one in Hungary 1.

Ball's manufacturing sites are owned or leased 1. The filing lists them by country, from Kentucky and Texas to Poland, Brazil and India, and reports 7,385 common shareholders of record on 17 February 2026 1.

The company expects comparable diluted earnings per share growth of 10-plus percent and free cash flow greater than $900 million in 2026 3. Its stated long-term target is more than 10 percent annual growth in that measure 3.

Ball says it is on track to return at least $800 million to shareholders by year-end through share repurchases and dividends 3. Its board approved repurchases of up to $4.00 billion through the end of 2027 2.

The finance chief said Ball keeps the flexibility to invest in long-term growth projects 3. Its debt agreement caps leverage at 5.0 times, which changes to 4.5 times as of 31 March 2027 2.

Ball has committed to a science-based 55 percent cut in its greenhouse gas footprint by 2030 and net zero carbon emissions before 2050 1.

On the people side, Scott Vail is due to succeed Mandy Glew in Europe, the Middle East and Africa when she retires in January 2027 4.