Ball Expects To Grow EPS In FY20 And Beyond - Quick Facts

(RTTNews) - Ball Corp. (BLL), an aluminum packaging solutions provider, Thursday said it currently expects to grow earnings per share in fiscal 2020 and beyond, despite near-term challenges amid Covid-19.

John Hayes, chairman, president and chief executive officer, said, "Executing our disciplined capital allocation strategy and being recession resistant is important as we bridge this near-term uncertainty with a long-term outlook that remains bright. While there are near-term challenges, our business is resilient and our strategy remains intact."

The company said it continues to operate with $800 million in cash on hand, $550 million in committed credit facilities as well as an additional $500 million in uncommitted lines of credit.

Looking forward, the company expects to generate free cash flow in the range of $500 million in 2020, and will accelerate the return of value to shareholders later in 2020 and beyond.