Ball Stock Earnings Reports

Ball Corporation reported a strong Q3 2025 driven by volume growth and cost management. Beverage can volumes grew 4.2% year-over-year, comparable operating earnings increased 5.1% and comparable diluted EPS rose 12.1%. Regional performance: North & Central America posted mid-single-digit volume growth (strength in energy and nonalcoholic beverages) but experienced some mix-related margin headwinds; EMEA delivered mid-single-digit volume growth and a 14.8% increase in segment comparable operating earnings; South America grew mid-single-digits with strength in Argentina and some Brazil softness expected to normalize in Q4. Management reaffirmed its full-year targets: 12%–15% comparable diluted EPS growth, record EVA dollar generation, and adjusted free cash flow roughly in line with comparable net earnings. Capital allocation priorities remain shareholder-friendly — the company expects to repurchase at least $1.3 billion of stock in 2025 ( ~ $1.27B repurchased YTD ), pay a quarterly dividend, and keep CapEx below or around depreciation (CapEx expected below D&A in 2025; guidance for 2026 early but nearer depreciation). Financial posture: year-end net debt to comparable EBITDA expected slightly above 2.75x; full-year interest expense now expected ~ $320M; effective tax rate slightly above 22%. Operational notes and risks: ongoing management of Section 232 tariff impacts (causing transient supply-chain inefficiencies and some pass-through pricing), tight capacity in North America (Millersburg, OR plant expected online in H2 2026 to relieve western U.S. constraints and materially aid 2027 growth), elevated inventories driven partly by higher aluminum costs and to support strong demand, and geopolitical/tariff uncertainty. Management remains confident in outpacing long-term volume ranges globally for 2025 and in returning significant capital to shareholders while investing selectively in capacity and efficiency.