BALL
Ball Corporation51.76
+0.18+0.35%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
NA headwinds, Benepack flat 2026
Q&A revealed North America's 2026 volume at the low end of 1-3% due to capacity constraints until Millersburg ramps, with $35 million in tariff-related ends domestication and startup costs—mostly back-half—potentially leaving segment earnings flat. Benepack plants in Belgium and Hungary add $1.7 billion volume but flat comparable operating earnings in 2026, mirroring Florida Can's ramp into 2027. Management confirmed three-quarters of $500 million Ball Business System savings delivered ahead of schedule. Tariffs and input inflation are pass-throughs; no pull-forward seen. Answers largely reaffirmed prepared outlook. North America stays constrained. Investors will eye Millersburg execution and regional leverage.
Key Stats
Market Cap
14.09BP/E (TTM)
20.14Basic EPS (TTM)
2.57Dividend Yield
0.02%Recent Filings
10-K
FY2025 results
Ball Corporation posted $13.2B in FY2025 net sales, up 12% y/y from $11.8B, fueled by higher volumes across all beverage packaging segments while net earnings fell to $912M from $4.0B due to the prior-year aerospace sale. North America sales jumped $667M to $6.3B with comparable operating earnings up $25M to $772M (12.3% margin); EMEA grew $517M to $4.0B, earnings rose $79M to $495M (12.4%); South America added $211M to hit $2.2B, earnings gained $31M to $327M (15.1%). Q4 share repurchases tallied 4.5M shares for $219M average $48.88, leaving $2.9B authorized. Debt climbed to $7.0B after refinancings, with $1.95B revolver availability. Raw material cost swings threaten quarterly margins.
8-K
Strong Q4 results, Benepack acquired
Ball Corporation posted strong Q4 and full-year 2025 results, with comparable diluted EPS at 91 cents and $3.57, respectively, on $13.16B sales and 4.1% global aluminum packaging shipment growth. Returned $1.54B to shareholders; generated record $956M adjusted free cash flow. Completed Benepack majority stake acquisition for €184M in late January. Expects 10+ percent comparable EPS growth in 2026.
8-K
Ball names Vail ops chief
Ball Corporation appointed Scott Vail as Chief Supply Chain and Operations Officer on December 10, 2025. Vail, former COO at Reynolds Consumer Products and ex-Ball exec, brings deep packaging ops experience from Anheuser-Busch InBev. Compensation includes $600,000 base, $345,000 sign-on bonus, and $1M RSUs vesting over three years. New hire bolsters supply chain leadership.
8-K
Ball refinances credit facilities
Ball Corporation extended its credit facilities via a Sixth Amendment on November 25, 2025, pushing maturities to 2030 while refinancing with a $1.5B term loan A, $1.25B USD revolver, and $750M multicurrency revolver. Lenders swapped out prior commitments; margins start at 1.25% over SOFR/SONIA/EURIBOR/CORRA/SARON/BBSY (0.25% base rate), stepping down with leverage. Net leverage covenant caps at 4.50x, rising 0.50x post-acquisition. Lenders shed collateral from 12 guarantors.
8-K
CEO, Chairman, CFO transitions
Ball Corporation swiftly replaced CEO Daniel W. Fisher with internal operations veteran Ronald J. Lewis on November 10, 2025, effective immediately; Fisher departed without cause or disagreement. Stuart A. Taylor II stepped up as Chairman, while interim CFO Daniel Rabbitt secured the permanent role. Lewis gets $1M base, 150% incentive target. Company reaffirms 12-15% EPS growth outlook. Leadership stabilized.
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