Total cash provided by (used in) operating activities This amount was recorded in selling, general and administrative in the unaudited condensed consolidated statement of earnings. The charges for the three months ended March 31, 2025, were primarily composed of the loss related to the aluminum cups business transaction and costs for previously announced facility closures. We use Comparable EBITDA, Comparable Operating Earnings, Comparable Net Earnings, and Comparable Diluted Earnings Per Share internally to evaluate the company’s operating performance. Presentations of earnings and cash flows presented in accordance with U.S.
Year-over-year sales reflect higher volume and price/mix. Year-over-year first quarter segment volume increased mid-single digit percent. Together, we can reach a recovery target of 90% for all beverage containers globally. At Ball, we aim to advance sustainability through aluminum packaging.
Ball Completes Sale of Cups Business
- GAAP financial measures at /investors under the „Financial Results“ tab.
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- The launching of Sputnik by the Soviets in 1958 ushered in the Space Age and created many new opportunities in the field of aerospace.
Basic – discontinued operations Basic – continuing operations Net earnings attributable to Ball Corporation Earnings from continuing operations
With the experiment a success, the Ball Brothers decided to open their own glass jar manufacturing factory. The Ball brothers‘ company made tin cans encased in wooden jackets to hold kerosene, paints, or varnishes. While the scale of our operations today is global, our beginnings were humble. Production ceased at this facility in the first quarter of 2024. GAAP financial measures at /investors under the „Financial Results“ tab. Please see the company’s website for further details of the company’s non-U.S.
Effect of currency exchange rate changes on cash, cash equivalents and restricted cash Business acquisitions, net of cash acquired Cash provided by (used in) operating activities Deferred tax provision (benefit) Diluted – discontinued operations Diluted – continuing operations
Ball Corporate Headquarters
It had entered a joint venture with the company a year earlier. Ball exits the glass jar business for which it is widely known. Ball forms Latapack-Ball Embalagens Ltda joint-venture; enters Brazilian beverage can market.
- Over the coming months and quarters, we expect to gain greater clarity on how shifts in consumer confidence and potential inflation might influence end-market demand.
- The company also has investments in operations in Guatemala, Panama, the U.S. and Vietnam that are accounted for under the equity method of accounting and, accordingly, those results are not included in segment sales or earnings.
- Beverage packaging, EMEA, segment comparable operating earnings for first quarter 2025 were $96 million on sales of $903 million compared to $85 million on sales of $810 million during the same period in 2024.
- First quarter sales reflect higher volume and price/mix.
The Future
Cash proceeds received at close from the sale of $5.42 billion, net of the cash disposed, are presented in business dispositions, net of cash sold, in the 2024 consolidated statement of cash flows. As a result, Ball recorded a noncash impairment charge in the fourth quarter of 2024 of $233 million to adjust the carrying value of the disposal group of our aluminum cups business to its estimated fair value less cost to sell. In the fourth quarter of 2024, Ball’s Board of Directors provided approval for the company to form a strategic partnership for the aluminum cups business in early 2025. Ball Corporation employs 16,000 people worldwide and reported 2024 net sales of $11.80 billion, which excludes the divested aerospace business.
First quarter sales reflect higher volume and price/mix. Ball Corporation supplies innovative, sustainable aluminum packaging solutions for beverage, personal care and household product customers. Ball acquires Rexam PLC, becoming the world’s largest producer of aluminum beverage cans. Ball acquires Schmalbach-Lubeca AG, the German-based metal-can beverage company, to create Ball Packaging Europe. Ball’s aerospace business converts to a wholly-owned subsidiary, Ball Aerospace & Technologies Corp.
Sustainability
Join us on our journey to provide the most sustainable packaging solutions for our customers. So we lead with integrity, building trust as a reliable company that employees, customers and investors can count on. Founded in 1880, the company employs more than 16,000 people worldwide. Join us on our journey to provide the most sustainable packaging solutions on the planet.
Ball Completes Sale of Cups Business
On February 16, 2024, the company completed the divestiture of the aerospace business for a purchase price of $5.6 billion, subject to working capital adjustments and other customary closing adjustments under the terms of the Agreement. In the third quarter of 2023, Ball entered into a Stock Purchase Agreement with BAE Systems, Inc. (BAE) and, for the limited purposes set forth therein, BAE Systems plc, to sell all outstanding equity interests in Ball’s aerospace business. For the three months ended March 31, 2025, Ball recorded an additional loss of $6 million relating to the transaction in business consolidation and other activities in the unaudited condensed consolidated statement of earnings. This charge was included in business consolidation and other activities in the consolidated statement of earnings for the year ended December 31, 2024. The transaction strengthens the segment’s supply network and enhances its ability to meet growing customer demand for sustainable beverage packaging solutions in the region. As of March 31, 2025, the assets and liabilities of the Saudi Arabian business were presented as current assets held for sale and current liabilities held for sale on the unaudited condensed consolidated balance sheet.
On February 16, 2024, the company completed the divestiture of its aerospace business. As of December 31, 2024, $32 million of cash was presented in current assets held for sale on the consolidated balance sheet. Includes $5 million of cash presented in current assets held for sale on the unaudited condensed consolidated balance sheet as of March 31, 2025. About Ball CorporationBall Corporation supplies innovative, sustainable aluminum packaging solutions for beverage, personal care and household products customers. First quarter sales reflect higher year-over-year shipments and price/mix, partially offset by currency translation.
The move boosts Ball’s beverage can sales by more than $1 billion annually. Ball enters beverage can business, acquiring Jeffco Manufacturing Company in Golden, Colorado, to form its metal beverage container operations. These charges were partially offset by income from the receipt of insurance proceeds for replacement costs related to the 2023 fire at the company’s Verona, Virginia extruded aluminum slug manufacturing facility. GAAP are available in the company’s earnings releases and quarterly and annual regulatory filings. For the three months ended March 31, 2024, undistributed corporate expenses, net, includes $79 million of incremental compensation cost from the successful sale of the aerospace business.
Additionally, the completion of the divestiture resulted in the removal of the aerospace business from the company’s obligor group, as the business no longer guarantees the company’s senior notes and senior credit facilities. After this adjustment and the $2 million loss recorded in the unaudited condensed consolidated statement of earnings for the three months ended March 31, 2025, the divestiture resulted in a pre-tax gain of $4.61 billion. The company is in the process of finalizing the working capital adjustments and other customary closing adjustments with BAE, which may adjust the final cash proceeds and gain on sale amounts.
Beverage packaging, South America, segment comparable operating earnings for first quarter 2025 were $69 million on sales of $544 million compared to $55 million on sales of $482 million during the same period in 2024. Beverage packaging, EMEA, segment comparable operating earnings for first quarter 2025 were $96 million on sales of $903 million compared to $85 million on sales of $810 million during the same period in 2024. Beverage packaging, North and Central America, segment comparable operating earnings for first quarter 2025 were $195 million on sales of $1.46 billion compared to $192 million on sales of $1.40 billion during the same period in 2024. Details of reportable segment comparable operating earnings, business consolidation and other activities, business segment descriptions and other non-comparable items can be found in the notes to the unaudited condensed consolidated financial statements that accompany this news release.
First quarter comparable operating earnings reflect higher volume. Ball’s first quarter 2025 comparable net earnings were $216 million, or 76 cents per diluted share compared to $217 million, or 68 cents per diluted share in 2024. Ball shifts to an all-in on aluminum business approach and divested its aerospace business to BAE Systems. Can, a U.S.-based aerosol and specialty metal packaging company, and merges it with Ball’s metal food-packaging operations to form the metal food and household products packaging division.
In February 2025, the company closed on the acquisition of Florida Can Manufacturing for cash consideration of $160 million. The financial results of the aluminum cups business are presented in Other in the table below through the date of the transaction. Total diluted earnings per share Total basic earnings per share Net earnings attributable to noncontrolling interests, net of tax Discontinued operations, net of tax
References to net sales and comparable operating earnings in today’s release do not include the company’s former aerospace business. First quarter results reflect higher comparable operating earnings for the aluminum packaging businesses in other non-reportable and lower year-over-year undistributed corporate expenses. 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 February 16, 2024. In the first quarter of 2024, the company recorded a pre-tax gain for the sale of the aerospace business. The business is comprised of an aluminum beverage can manufacturing facility located in Winter Haven, Florida and is included in Ball’s beverage packaging, North and Central America, segment.
Over the coming months and quarters, we expect to gain greater clarity on how shifts in consumer confidence and potential inflation might influence end-market demand. While the broader, indirect effects of tariffs remain uncertain, we are not currently seeing a meaningful impact on our second-quarter performance. Our strategy emphasizes local sourcing and manufacturing, reducing our exposure to international trade fluctuations. We view the direct impact from announced tariffs as manageable and are actively working ball sucking with our customers to mitigate the effects of volatility in aluminum premium prices. A can big enough to share.