Ball Corp. Sees Earnings Per Share Growth In FY20, Beyond

(RTTNews) - Aluminum packaging solutions provider Ball Corp. (BLL), while reporting weak second-quarter results, said Thursday that it expects improved performance in the second half of fiscal 2020, with growth in earnings per share.

John Hayes, chairman, president and chief executive officer, said, "We currently expect to grow our earnings per diluted share this year while returning capital to our shareholders. Beyond 2020, we look forward to continuing to grow our EVA dollars on an even larger capital base and achieving our long-term diluted earnings per share growth goal of 10 to 15 percent."

Hayes added that demand for aluminum packaging solutions and aerospace technologies increasing even higher than anticipated, and that much needed capacity additions and hiring will benefit the company and customers in the second half of 2020 and beyond.

The company said its previously announced projects are on track and that it will continue to deploy additional capital across its existing business portfolio to support new customer contracts.

According to the company, global beverage, aerosol and aerospace businesses rebounded swiftly following the initial impact of the global pandemic and all are exiting the quarter with momentum for improved performance in the second half and beyond.

Scott Morrison, senior vice president and chief financial officer, added that the company expects 2020 capital expenditures exceeding $900 million and additional EVA-enhancing opportunities in 2021 and beyond, citing the growth trajectory in its North American beverage business.