Ball Corporation (BALL) Tops Q4 EPS by 4c, misses on revenue

Ball Corporation (NYSE: BALL) reported Q4 EPS of $0.78, $0.04 better than the analyst estimate of $0.74. Revenue for the quarter came in at $3.4 billion versus the consensus estimate of $3.55 billion.

"Our team achieved double-digit comparable operating earnings growth and generated $818 million of free cash flow in 2023. Looking ahead in 2024, incremental volume recovery and continuous improvement on cost management will drive comparable operating earnings and, strong free cash flow generation and approximately $4.5 billion of after-tax proceeds from the projected aerospace sale will be used to immediately reduce debt by approximately $2 billion driving leverage to in the range of 2.7x net debt to comparable EBITDA and, approximately $2 billion of proceeds will be used to increase return of value to shareholders via share buybacks and pay dividends moving forward,\" said Howard Yu, executive vice president and chief financial officer.

"In 2024, we are positioned to grow diluted earnings per share, generate strong free cash flow and accelerate return of value to shareholders. Looking ahead, we are focused on executing our enterprise-wide strategy with purpose and pace to advance sustainable aluminum packaging solutions at scale, win commercially through partnership and breakthrough innovation and unlock value within the organization by driving continuous process improvement and operational excellence. Together, we will strive to deliver innovative aluminum packaging solutions that can free the world from waste and embark on a path to deliver compounding shareholder returns in 2024 and beyond."

For earnings history and earnings-related data on Ball Corporation (BALL) click here.

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