Ball Q2 earnings up 114% year-over-year
WESTMINSTER — Ball Corp. (NYSE: BLL) reported on Thursday $202 million, or 61 cents per share, in net earnings for the second quarter of 2021, a 114% increase from the $94 million it earned in the second quarter of 2020.
The company brought in $3.4 billion in revenue, a 23% increase from the $2.8 billion it recorded in the second quarter of 2020.
Ball also reported a 25% increase to its aerospace backlog. That is now at $3 billion, with a won-not-booked backlog of $5.1 billion.
SPONSORED CONTENT
People Powered: Preparing Longmont Businesses for Economic Success
Longmont Chamber and FNBO present People Powered on April 24, 2024, aiming to inform business owners about workforce development, housing, and transportation issues.
“The company continues to win defense, climate change and Earth-monitoring contracts to provide mission-critical programs and technologies to U.S. government, defense, intelligence, and reconnaissance and surveillance customers,” the company said in a prepared statement.
Ball beefed up its North American beverage-packaging operations as well. It opened a new facility in Pittston, Pennsylvania, and added two more lines of production at its Glendale, Arizona, plant. Ball also plans to open another aluminum-can manufacturing facility in Bowling Green, Kentucky, in the fourth quarter of 2021.
Despite this, the company said that “demand for aluminum beverage cans continues to outstrip supply across North America.”
“The company is well-positioned for long-term growth and we recently accelerated return of value to shareholders in 2021 by increasing our dividend 33% and initiating share repurchases of at least $500 million,” Scott C. Morrison, executive vice president and chief financial officer, said in a prepared statement. “Our financial strength and flexibility provide the opportunity to return value to shareholders while also investing in excess of $1.5 billion in capital expenditures to further grow cash from operations, earnings and EVA dollars. We look forward to investing in more organic growth opportunities and returning even more to our shareholders in the future as our cash from operations continues to accelerate.”
Ball stock closed Thursday at $80.78 per share, up 2.21% from open.
