Ball start production at new can plant as Q2 earnings released
Ball Corporation started production at its new beverage can plant in Pennsylvania as it reported second quarter 2021 net earnings of $202 million or 61 cents per diluted share, on sales of $3.5 billion.
This was compared to $94 million net earnings attributable to the corporation, or 28 cents per diluted share on sales of $2.8 billion in 2020.
Results for the first six months of 2021 were net earnings attributable to the corporation of $402 million, or $1.20 per diluted share, on sales of $6.6 billion compared to $117 million, or 35 cents per diluted share, on sales of $5.6 billion for the first six months of 2020.
John A. Hayes, chairman and chief executive officer, said: “During the quarter, the company increased comparable earnings per diluted share by 32% on 13% aluminium beverage volume growth and 20% aluminium aerosol growth, and secured new aerospace contracts to achieve record backlog.
“In addition to global operations executing at a high level, the company started up the new Pittston, Pennsylvania, beverage can manufacturing facility, initiated further global capacity investments and successfully launched The Aluminum Cup at retail in the United States.
“Global projects in North America, South America and EMEA are supported by long-term contracts and will contribute meaningfully to 2021 and beyond.”
Daniel W. Fisher, president of Beverage Packaging, North and Central America, said: “Our focus remains on our employees’ safety, training and development, the efficient startups of EVA-enhancing projects and opportunities to build optimal inventory to further improve operational efficiencies and customer service.
“Positive momentum continues across the entire company. Our recently announced 2030 sustainability goals and plans to expand the return of value to shareholders through higher dividends and share repurchases while deploying significant capital to increase the availability of sustainable aluminium packaging and best-in-class aerospace technologies will benefit our stakeholders in 2021 and beyond.”
For the full report, visit the Ball website.
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