Ball Corporation reported full-year 2022 net earnings of $719 million (including a net after-tax loss of $172 million) on sales of $15.35 billion, down from $878 million, on sales of $13.81 billion, in 2021. 

Ball’s full-year 2022 comparable net earnings were $891 million, or $2.78 per diluted share compared, to $1.16 billion, or $3.49 per diluted share in 2021.

Ball’s fourth quarter 2022 net earnings attributable to the corporation were $55 million, on sales of $3.55 billion compared to $297 million, on sales of $3.67 billion in the fourth quarter of 2021. 

Daniel W. Fisher, president and CEO of Beverage Packaging, North and Central America, said: “The company’s 2022 results were driven by macroeconomic and geopolitical conditions leading to lower volume across the Americas, higher costs to manage inventory levels and decisive actions to align supply/demand and sell our Russian operations in response to the war in Ukraine. 

“Our employees’ agility to execute during another year of unprecedented and challenging activities with speed and empathy speaks to their professionalism and ownership mindset. 

“In 2023, inflationary cost recovery, actions to reduce costs and operating safely and efficiently to serve sustainable aluminium packaging demand and deliver critical aerospace programs will significantly improve results in 2023.”

Beverage Packaging North and Central America

The Ball Beverage packaging, North and Central America, segment comparable operating earnings for full-year 2022 were $642 million on sales of $6.70 billion compared to $681 million on sales of $5.86 billion in 2021. 

For the fourth quarter 2022, segment comparable operating earnings were $99 million on sales of $1.51 billion compared to $162 million on sales of $1.52 billion during the same period in 2021. Full-year 2022 sales reflect the contractual pass through of higher aluminium costs. 

Full-year and fourth quarter segment comparable operating earnings decreased year-over-year due to lower than anticipated volume, unfavourable fixed cost absorption and the timing effect of high-cost inventory ahead of customer sell through to align year-end inventory levels and customer mix. 

Segment volumes decreased 7.1% in the fourth quarter and were flat on a full-year basis due to lower than anticipated customer demand driven by higher year-over-year retail prices impacting consumer demand, particularly in the US. 

Aluminium beverage cans continue to outperform other substrates in the current retail pricing environment.

To ensure supply/demand balance and optimise low-cost production during the current macroeconomic environment, the company previously disclosed the permanent closures of two US facilities, and customer demand associated with each facility is being absorbed into our capable North American plant system.

Beverage Packaging, EMEA

Beverage packaging, EMEA, segment comparable operating earnings for full-year 2022 were $358 million on sales of $3.85 billion compared to $452 million on sales of $3.51 billion in 2021. 

For the fourth quarter, segment comparable operating earnings were $47 million on sales of $748 million compared to $103 million on sales of $870 million during the same period in 2021.

Full-year and fourth quarter sales reflect higher shipments and the contractual pass through of higher aluminium costs offset by unfavourable foreign exchange translation and the sale of the Russian operations during the third quarter of 2022. 

Beverage Packaging, South America

Beverage packaging, South America, segment comparable operating earnings for full-year 2022 were $275 million on sales of $2.11 billion compared to $348 million on sales of $2.02 billion in 2021. 

For the fourth quarter, comparable segment operating earnings were $78 million on sales of $614 million compared to $103 million on sales of $615 million during the same period in 2021. 

Year-over-year sales reflect lower volumes, the contractual pass through of higher aluminium costs and regional price/mix.