Ball Corporation on Tuesday reported robust financial performance for the fourth quarter and full year ended December 31, 2025, driven by higher sales and volume growth across its global beverage packaging divisions.

For the full year, Ball recorded net sales of about $13.16 billion, up from roughly $11.8 billion in 2024, with strong operating earnings in North America, EMEA and South America segments. Segment volumes increased in the mid-single digits, benefiting from favourable price/mix and higher shipment levels.

In the fourth quarter, sales reached $3.35 billion, outpacing the prior year and Wall Street expectations, although Ball did not disclose EPS in the release itself. Market reports indicated that earnings per share for the period came in at $0.74, below some analysts’ forecasts but the higher revenue underscored strong demand.

Ball highlighted that for 2025 it generated a record $956 million in adjusted free cash flow and returned $1.54 billion to shareholders through dividends and share buybacks. The company also completed strategic moves such as acquiring a majority stake in European can maker Benepack and investing in capacity expansions.

Looking toward 2026, Ball reaffirmed confidence in long-term growth trends for aluminium packaging and its ability to deliver consistent earnings growth while maintaining a healthy balance sheet.

Key Highlights

• Shareholder Returns: Returned $1.54 billion to shareholders in 2025 through a combination of dividends and share repurchases.
• Cash Flow: Generated a record $956 million in adjusted free cash flow.
• Strategic Acquisition: Completed the purchase of an 80% stake in Benepack (Belgium/Hungary) for approximately €184 million to bolster its European footprint.
• Asset Shifts: Deconsolidated its aluminum cups business and its Saudi Arabian joint venture during 2025.

Segment Results

All major beverage packaging regions showed volume growth and increased operating earnings:

• North and Central America: Operating earnings rose to $772 million (up from $747M). Volume increased by 4.8% for the year.
• EMEA (Europe, Middle East, Africa): Operating earnings jumped to $495 million (up from $416M). Full-year volume grew 5.5%.
• South America: Operating earnings reached $327 million (up from $296M) with a 4.2% volume increase.

2026 Outlook

Management expressed high confidence in the “Ball Business System” and expects to maintain its momentum:

• EPS Growth: Targeting 10-plus percent growth in comparable diluted EPS.
• Free Cash Flow: Expected to exceed $900 million.
• Strategy: Continued focus on Economic Value Added (EVA) and advancing sustainable aluminum packaging.