Manufacturing  February 1, 2024

Ball posts higher fourth-quarter sales but full-year performance sags

WESTMINSTER — Ball Corp. (NYSE: BALL) posted higher year-over-year sales and earnings in the fourth quarter of 2023, but the company’s full-year 2023 performance was down from 2022. 

Ball’s fourth quarter 2023 net attributable earnings were $154 million on sales of $3.4 billion compared to $55 million on sales of $3.55 billion in the fourth quarter of 2022. 

For the full 2023 fiscal year, Ball’s net attributable earnings were $707 million on sales of $14 billion compared to $719 million on sales of $15.35 billion in 2022.

The 2023 fiscal year is particularly notable because Ball inked a deal in August to sell its Ball Aerospace and Technologies Corp. division to British aerospace company BAE Systems PLC for $5.6 billion.

“We delivered strong fourth quarter and full-year comparable operating earnings and free cash flow. The resiliency of our team amid a major brand disruption in North America, challenging year-over-year comparisons in (Europe, the Middle East and Africa) following the 2022 Russian business sale, hyperinflationary effects in Argentina and activities associated with the ongoing aerospace sale process was outstanding,” Ball CEO Daniel Fisher said in a news release. “Those actions coupled with sequential volume improvement, operational efficiencies and the planned deployment of aerospace sale proceeds to reduce leverage and accelerate share repurchases, position the business for continued diluted earnings per share growth, strong free cash flow generation and return of value to shareholders in 2024 and beyond.”

Ball Corp. posted higher earnings in Q4.

Lucas High
A Maryland native, Lucas has worked at news agencies from Wyoming to South Carolina before putting roots down in Colorado.
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