Ball Q3 GAAP EPS $0.64 (incl charges); comparable $0.83; to sell aerospace for $5.6B

BALL Corp

2023-Q3 EPS reported $1.74 revenue$10,626,000,000

Q3 GAAP diluted EPS $0.64 vs $1.24 (prior year incl $0.49 gain from Russia sale); comparable EPS $0.83 vs $0.75.
Announced agreement to sell aerospace business to BAE Systems for $5.6B cash; regulatory approval underway; proceeds to reduce debt ~$2B and boost buybacks/dividends.
Beverage Packaging NCA volumes down 9.9% due to US mass beer disruption; ceasing Kent, WA, deferring Concord, NC to 2028, cancelling N. Las Vegas plant.
Reiterate FY 2023 free cash flow ~$750M; potential low- to mid-single digit comparable EPS growth despite Russia headwind.
Fire at Verona, VA slug facility; no injuries; operations team managing customer needs from remaining global plants.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BALL Corp reported third quarter ended September 30, 2023 results: EPS $0.83.

Period: third quarter ended September 30, 2023
EPS: $0.83
Result: reported results

Exact text from the filing

Ball Corporation (NYSE: BALL) today reported, on a U.S. GAAP basis, third quarter 2023 net earnings attributable to the corporation of $203 million (including net after-tax charges of $60 million, or 19 cents per diluted share for business consolidation and other non-comparable items) or diluted earnings per share of 64 cents, on sales of $3.57 billion, compared to net earnings attributable to the corporation of $392 million (including a net after-tax gain of $154 million, or 49 cents per diluted share for business consolidation and other non-comparable items, including the gain on disposal for the Russian beverage packaging operations) or diluted earnings per share of $1.24, on sales of $3.95 billion in 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BALL Corp reported third quarter ended September 30, 2023 results: EPS $0.83.

Period: third quarter ended September 30, 2023
EPS: $0.83
Result: reported results

Exact text from the filing

Ball’s third quarter and year-to-date 2023 comparable earnings per diluted share were 83 cents and $2.13, respectively, versus third quarter and year-to-date 2022 comparable earnings per diluted share of 75 cents and $2.34, respectively.

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Source: SEC EDGAR

accession 0000009389-23-000041

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