Ball reported second-quarter 2026 results showing GAAP net earnings attributable to the company of $221 million on revenue of $3.997 billion and comparable diluted earnings per share of $1.03. Comparable operating earnings were $433 million in the quarter, up from $402 million a year earlier. Management reiterated a 2026 outlook targeting greater than 10% comparable diluted EPS growth and free cash flow above $900 million.

Financial Highlights

  • Revenue: Net sales of $3,997 million for the three months ended June 30, 2026 (six months: $7,600 million).
  • Net income (GAAP): Net earnings attributable to Ball of $221 million for Q2 2026 (six months: $426 million).
  • Adjusted diluted EPS: Comparable diluted earnings per share of $1.03 for Q2 2026 (Q2 2025: $0.90); six-month comparable diluted EPS $1.97.
  • Comparable operating earnings: $433 million for Q2 2026 versus $402 million in Q2 2025; six-month comparable operating earnings $820 million.
  • Cash flow and liquidity: Cash, cash equivalents and restricted cash of $501 million at June 30, 2026; free cash flow for six months was negative $471 million and adjusted free cash flow was negative $575 million (includes $104 million cash taxes paid for Aerospace disposition).

Business Highlights

  • Volume and shipments: Global aluminum packaging shipments rose 4.3% in Q2 2026; segment volumes increased low- to mid-single digits in North/Central America and EMEA, and mid-teens in South America year-over-year.
  • Segment performance: Beverage Packaging North and Central America delivered comparable operating earnings of $207 million on sales of $2,006 million; EMEA reported $162 million on sales of $1,242 million; South America reported $82 million on sales of $591 million.
  • Portfolio changes and realignment: Results reflect the January 2026 acquisition of an 80% interest in Benepack’s European can business and first-quarter 2026 realignment of facilities in India and Myanmar into the EMEA segment.
  • Capital deployment and returns: Returned $222 million to shareholders via repurchases and dividends in first six months of 2026 and began executing planned share repurchases to support a target of at least $800 million returned to shareholders in 2026 while retaining flexibility for EVA-driven investments.
  • Operational drivers: Management cited higher volumes, favorable price/mix (including timing of metal pass-through), and ongoing plant start-up and operating cost dynamics as key drivers of quarterly results.

Original SEC Filing:

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