NYSE$BALL

Ball Corp · Q2 2021 earnings

Q2 2021 earnings · · Investor relations

Briefing

Ball reported strong second-quarter results, with increased earnings per share and global beverage can volumes.

Ball Corporation reported strong second quarter 2021 results, with comparable earnings per diluted share increasing by 32% on 13% aluminum beverage volume growth. The company also secured new aerospace contracts and initiated further global capacity investments.

  • Second quarter U.S. GAAP earnings per diluted share of 61 cents vs. 28 cents in 2020
  • Second quarter comparable earnings per diluted share of 86 cents vs. 65 cents in 2020, an increase of 32%
  • Second quarter global beverage can volumes up 13%; specialty mix exceeds 49%
  • Year-to-date aerospace contracted backlog increased 25% to $3 billion; won-not-booked backlog of $5.1 billion

Headline financials

Total Revenue

$3.46B

Previous: $2.8B+23.5%
EPS (adj)

$0.62

Previous: $0.29+113.8%
Capital Expenditures

-$757M

Previous: -$447M-69.4%
Free Cash Flow

-$555M

Previous: -$355M-56.3%
Net Income

$202M

Previous: $92M+119.6%
Operating Income

$373M

Previous: $178M+109.6%
Gross Profit

-$2.76B

Previous: -$2.23B-23.8%
Cash & Equivalents

$571M

Previous: $643M-11.2%
Total Assets

$19.1B

Previous: $16.6B+15.3%

Revenue & EPS history

Ball · Revenue · Quarterly

$3.46B

Q2 2021+23.5%vs Q2 2020
Beat estimate in 2 of 2 quarters(100%)
ActualEstimate

Revenue by segment

Ball · $3B total across 4 segments · Q2 2021

  • Beverage Pkg NCA
    $1.52B+20.3%
  • Beverage Pkg EMEA
    $906M+29.6%
  • Beverage Pkg South Am
    $452M+37.4%
  • Other
    $118M+73.5%

Forward guidance

The company is well-positioned for long-term growth and has accelerated return of value to shareholders in 2021 by increasing the dividend 33% and initiating share repurchases of at least $500 million.

Tailwinds

  • Company is well-positioned for long-term growth
  • Recently accelerated return of value to shareholders in 2021 by increasing our dividend 33%
  • Initiating share repurchases of at least $500 million
  • Financial strength and flexibility provide the opportunity to return value to shareholders while also investing in excess of $1.5 billion in capital expenditures
  • Continue to perform at a high level despite certain transitory inefficiencies and costs

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2021

Historical avgQ2 2021

+0.2%

Avg return

Earnings day

-0.6%

Avg return

5 days after

+0.8%

Avg return

30 days after

56%

38 / 68 earnings

Positive

+12.1%

Q1 2023

Best reaction

-22.6%

Q2 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+2.1%-3.9%-14.3%
Q4 2025+8.0%+17.3%+11.5%
Q3 2025+1.6%+4.0%+3.7%
Q1 2025-0.4%+0.5%+3.2%
Q4 2024-6.9%-9.4%-6.3%
Q3 2024-8.1%-6.6%-3.2%
Q2 2024+1.5%-0.8%-0.0%
Q1 2024+8.1%+4.3%+5.2%
Q4 2023+7.3%+3.2%+15.9%
Q3 2023+7.7%+5.4%+18.5%
Q2 2023+1.3%-1.4%-3.8%
Q1 2023+12.1%+9.1%+4.2%
Q4 2022+0.9%-1.4%-2.3%
Q3 2022+6.3%+5.6%+16.6%
Q2 2022-22.6%-24.6%-23.3%
Q1 2022-13.6%-17.0%-11.6%
Q4 2021-1.0%-1.3%+1.3%
Q3 2021-3.9%-3.0%-0.9%
Q2 2021+7.9%+12.4%+23.2%
Q1 2021+2.1%+2.8%+10.8%
Q4 2020+0.2%-2.3%-9.9%
Q3 2020+3.6%+0.9%+0.1%
Q2 2020+0.7%-1.5%+9.9%
Q1 2020-2.8%-5.8%-0.6%
Q4 2019-1.8%-2.1%-29.7%
Q3 2019-4.9%-4.7%-5.6%
Q2 2019-2.0%+0.7%+7.6%
Q1 2019+0.9%+0.4%+3.6%
Q4 2018+0.7%+1.9%+6.4%
Q3 2018-0.4%+2.6%+3.1%
Q2 2018+2.3%+2.3%+3.3%
Q1 2018-2.1%+1.4%+1.0%
Q4 2017-1.4%+1.5%-0.6%
Q3 2017-1.7%-4.2%-2.3%
Q2 2017-2.5%-1.1%-2.0%
Q1 2017-0.4%-1.3%+4.4%
Q4 2016-1.6%-3.6%-1.0%
Q3 2016-0.0%-3.4%-3.2%
Q2 2016+0.2%-0.4%-3.4%
Q1 2016+1.0%
Q4 2015+3.0%
Q3 2015+4.3%
Q2 2015-3.2%
Q1 2015-0.8%
Q4 2014-0.1%
Q3 2014-0.8%
Q2 2014+0.9%
Q1 2014+2.0%
Q4 2013-0.4%
Q3 2013+0.1%
Q2 2013-3.4%
Q1 2013-0.6%
Q4 2012-1.4%
Q3 2012+0.4%
Q2 2012+4.2%
Q1 2012+0.5%
Q4 2011-0.9%
Q3 2011+1.8%
Q1 2010+1.8%
Q2 2011+3.9%
Q1 2011+0.9%
Q4 2010-1.3%
Q4 2008-1.3%
Q3 2010+2.5%
Q3 2009+2.5%
Q2 2009+0.2%
Q2 2010+0.2%
Q4 2009+0.2%

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