Ball grows sales despite leaving Russia

WESTMINSTER — Ball Corp. (NYSE: BLL), a Broomfield-based metal-packaging manufacturer with a major aerospace division, grew its sales in the first quarter of 2022 despite a decision in March to sell off its Russian assets as a result of that country’s ongoing war against Ukraine.

Total sales came in at $3.7 billion in the reported quarter, up 19% from the first quarter of 2021.

Ball’s first quarter 2022 comparable net earnings were $252 million, or 77 cents per diluted share, compared to $240 million, or 72 cents per diluted share in 2021. That missed the Zacks Consensus Estimate of 83 cents per diluted share.

“We delivered strong first quarter results amid significant geopolitical and economic conditions across multiple regions where we operate,” Ball CEO Daniel Fisher said in a prepared statement. “Comparable diluted earnings per share and comparable operating earnings increased 7% and 6%, respectively. Our global team executed at a high level to navigate persistent supply chain disruptions and inflation while also commissioning capital projects on time and on budget to serve growing customer demand across our global packaging and aerospace businesses. The resiliency of our employees, business portfolio, customer and supply chain partners and communities where we operate continues to enable a brighter future for our company.”

Ball’s stock finished trading Thursday at $76.80, down 7.71%

This article was first published by BizWest, an independent news organization, and is published under a license agreement. © 2022 BizWest Media LLC.

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