Ball Corp. sees 2015 profits decline

BROOMFIELD — Metal food and beverage packaging giant Ball Corp. (NYSE: BLL) saw profit decline by nearly $190 million in 2015, the company disclosed in its fourth-quarter earnings report on Thursday.

Net earnings came in at $280.9 million, or $1.99 per share, down from $470 million, or $3.30 per share in 2014. Revenue, meanwhile, slid from $8.6 billion to $8 billion.

The biggest hits for the Broomfield-based company came in its Metal Food & Household Products Packaging segment, where net income slipped $46.5 million to $107.7 million and revenue declined by $200 million to $1.3 billion. The declines in that segment, company officials said, were due to a “customer shift in North American steel food cans and manufacturing inefficiencies in the United States.”

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Ball’s Aerospace and Technologies business, which is based in Boulder, saw earnings decline nearly $12 million to $81.8 million, with revenue declining by more than $124 million to $810.1 million. The company said those declines were due to a greater number of program completions in 2014, though officials noted that the awarding of multiple new programs in late 2015 positions the segment for stronger performance going forward.

For the fourth quarter, Ball’s profit was $55.3 million, or 39 cents per share, down from $76 million, or 54 cents per share the year before. Revenue declined from $2 billion in 2014 to $1.8 billion in 2015.

Ball shares rose 80 cents to close at $66.90 Thursday.