WESTMINSTER — Ball Corp. (NYSE: BALL), a Broomfield-based metal-packaging manufacturer with a major aerospace division, beat Wall Street’s projections on revenue but missed the mark on earnings.

Sales for the second quarter of 2022 were $4.13 billion, besting the Zacks Consensus Estimate of $3.9 billion and up from $3.46 billion in 2021.

Comparable net earnings in the second quarter of 2022 were $263 million, or 82 cents per diluted share, missing the Zacks Consensus Estimate of 98 cents. Earnings in the second quarter of 2021 were 86 cents per share. 

On a reported basis, Ball posted a loss per share of 55 cents, down from positive earnings per share of 61 cents in the same period last year. 

“We delivered stable year-over-year comparable operating earnings amid notable cost inflation, demand volatility and euro earnings translation headwinds. Global growth for sustainable aluminum beverage and personal care products packaging continues and, in certain regions, varied from original expectations,” Ball CEO Daniel Fisher said in a prepared statement. “To balance the near-term effects of economic volatility on consumer demand with long-term growth opportunities for our aluminum packaging portfolio and aerospace technologies, the global team has initiated actions to rephase capital projects and further manage costs to maximize EVA, cash, and returns. Through our capital discipline, financial strength, ownership mindset, manufacturing footprint and innovative product portfolio, we can successfully navigate the current economic environment and create value for our stakeholders.”

“Business execution, being good stewards of our cash and controlling the things we can control in today’s global economic and geopolitical environments is key. Our company’s resiliency, financial strength, recession resistant business portfolio and low cost of capital continue to provide stability, optionality and opportunities for long-term growth. We remain well-positioned for medium-term and long-term growth and returning significant value to shareholders through  share repurchases and dividends,” Ball chief financial officer Scott Morrison said.