WESTMINSTER, Colo. - Ball Corporation (NYSE:BALL) reported a second-quarter adjusted EPS of $0.74, surpassing analyst expectations by $0.04, but its revenue of $2.96 billion fell short of the consensus estimate of $3.1 billion.
Despite the earnings beat, shares of the company declined by 2% following the announcement.
The company's second-quarter results also showed an increase in global beverage can shipments by 2.8% and global aluminum aerosol shipments by 5.6%. Compared to the same quarter last year, Ball Corporation experienced a decrease in net sales from $3.07 billion to $2.96 billion.
Daniel W. Fisher, chairman and CEO, commented on the results, "We delivered strong second quarter results and returned $790 million to shareholders in the first half of 2024." He also emphasized the company's commitment to advancing sustainable aluminum packaging and delivering long-term shareholder value.
Looking ahead, the company's executives remain optimistic. "Our global business performance remains strong and on track to deliver or exceed against our stated goals," said Howard Yu, executive vice president and chief financial officer. The company aims to achieve mid-single-digit plus comparable diluted earnings per share growth and generate strong free cash flow in 2024. Additionally, Ball Corporation is on track to return in excess of $1.6 billion to shareholders by the end of the year.
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