Ball Corporation serves as a global provider of aluminum packaging solutions for a broad spectrum of industries, including beverages, personal care items, ...
Ball Corporation (NYSE: BALL) is a global aluminum packaging company and a leader in sustainability, dedicated to advancing a world free from waste through innovative aluminum solutions. Founded in 1880 in Buffalo, New York, by the Ball brothers, the company has evolved from a small can producer into a multinational ...Ball Corporation (NYSE: BALL) is a global aluminum packaging company and a leader in sustainability, dedicated to advancing a world free from waste through innovative aluminum solutions. Founded in 1880 in Buffalo, New York, by the Ball brothers, the company has evolved from a small can producer into a multinational enterprise with a significant aerospace division. Headquartered in Westminster, Colorado, Ball operates over 65 manufacturing plants across more than 70 countries, employing over 16,000 people. The company's operations are divided into four primary segments: Beverage Packaging for North and Central America, Beverage Packaging for Europe, Middle East, and Africa, Beverage Packaging for South America, and Aerospace.
In its packaging business, Ball is the world's leading provider of aluminum beverage cans, bottles, and aerosol containers, serving major brands in carbonated soft drinks, beer, energy drinks, and personal care. The company also produces extruded aluminum aerosol containers, reclosable aluminum bottles, aluminum cups, and aluminum slugs. Highlights include infinite recyclability and lightweight design, reducing carbon footprint. The Aerospace division, now being spun off as a separate company, develops advanced spacecraft, sensors, instruments, radio frequency systems, and defense hardware for civil, commercial, and national security applications. Ball's aerospace products include satellites, remote sensing devices, star trackers, cryogenic systems, and fast-steering mirrors, supporting government agencies and prime contractors.
Financially, Ball reported 2025 net sales of $13.16 billion (as per one source) and 2024 net sales of $11.80 billion, with a market capitalization around $16.9 billion as of the latest data. The company maintains a strong balance sheet with a debt-to-equity ratio of 1.26 and a price-to-earnings ratio of 17.98 (TTM). In fiscal year TTM, gross profit margin stood at 16.4%, operating margin at 11.1%, and net profit margin at 6.6%. Free cash flow per share was $3.11, and the company paid a dividend of $0.80 per share, yielding approximately 1.3%. Key financial metrics include return on equity of 17% and return on assets of 4.7%.
Leadership, under CEO Ronald J. Lewis since 2025, focuses on sustainability, operational efficiency, and growth in aluminum packaging. The company also has a rich history, including early production of glass jars, and was renamed Ball Corporation in 1969, going public in 1972. With a commitment to 'advancing a world free from waste,' Ball continues to innovate in aluminum packaging and aerospace technology.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$13.2B
+11.6%
+10.9%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$912.0M
-77.2%
+7.8%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+14.9%
-4.7%
-2.7%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+10.6%
+25.6%
+37.0%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+6.9%
-79.6%
-2.8%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$788.0M
+313.6%
+149.8%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+6.0%
+291.4%
+144.9%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
129.3%
+26.0%
-9.9%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
1.11x
+11.5%
-4.4%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Greetings, and welcome to the Ball Corporation Second Quarter 2026 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Brandon Potthoff, Head of Investor Relations.
Brandon Potthoff: Good morning, everyone. This is Ball Corporation's conference call regarding the company's second quarter 2026 results. During this call, we will reference our second quarter 2026 earnings presentation available through this webcast and on our website at investors.ball.com. The information provided during this call will contain forward-looking statements. Actual results or outcomes may differ materially from those that may be expressed or implied. We assume no obligation to update any forward-looking statements made today. Some factors that could cause the results or outcomes to differ are described in the company's latest Form 10-K, other SEC filings and in today's earnings release and earnings presentation. If you do not already have our earnings release, it is available on our website at ball.com. Information regarding the use of non-GAAP financial measures may also be found in the notes section of today's earnings release. In addition, this presentation and the release include a summary of noncomparable items as well as a reconciliation of comparable net earnings and diluted earnings per share calculations. I would now like to turn the call over to our CEO, Ron Lewis.
Ron Lewis: Thank you, Brandon. Today, I'm joined by Dan Rabbitt, Senior Vice President and Chief Financial Officer. I will provide some brief introductory remarks and discuss second quarter and first half 2026 financial performance and our outlook for the remainder of 2026. Dan will touch on key metrics, and then we will finish up with closing comments and a question-and-answer session. As we begin, I want to reinforce the same big picture message we have discussed in prior quarters because it remains central to how we think about Ball's long-term value creation. The fundamentals supporting our business remain firmly in place. Packaged liquid volume continues to grow globally and aluminum cans continue to gain share as consumers, customers and retailers prioritize convenience, performance and sustainability. These trends continue to support a durable runway of demand for our products. Within that growing market, Ball remains well positioned. Across our regions, we continue to benefit from long-term customer partnerships, a well contracted portfolio, disciplined capacity management and an unmatched global footprint. Together, those advantages support strong utilization and consistent commercial performance. We are pairing those operating advantages with financial discipline. Through the first half of 2026, our results have reinforced our confidence in the framework we laid out for the year, supported by a healthy balance sheet and a capital allocation approach grounded in EVA. We remain focused on …