Financial Data and Key Metrics Changes - In 2025, the company achieved record comparable diluted EPS of $3.57, a 13% increase from 2024 [12][23] - Adjusted free cash flow reached $956 million, up 2.4 times year-over-year [19] - The company returned over $1.5 billion to shareholders through buybacks and dividends [7][12] Business Line Data and Key Metrics Changes - North and Central America segment comparable operating earnings increased 12% in Q4 and 3.3% for the full year [15] - EMEA segment comparable operating earnings rose 36.7% in Q4 and 19% for the full year, with high single-digit volume growth [17] - South America segment comparable operating earnings increased 1% in Q4 and 10.5% for the full year, with high single-digit volume growth [18] Market Data and Key Metrics Changes - Global shift volumes increased by 6% in Q4 and 4.1% for the full year [12] - The aluminum can market is growing, with the company outpacing the market in shipped volumes [6][7] Company Strategy and Development Direction - The company aims to double down on profitable growth, focusing on operational excellence and customer partnerships [9][47] - The Ball Business System is central to the company's strategy, emphasizing customer engagement and operational efficiency [10][11] - The company plans to maintain EVA as its core financial lens, ensuring disciplined capital allocation [23] Management's Comments on Operating Environment and Future Outlook - The management expressed confidence in the company's ability to deliver 10%+ comparable diluted EPS growth in 2026 [21][23] - The company is monitoring geopolitical dynamics and tariff developments to protect long-term growth [16] - Management highlighted the importance of the aluminum can's value proposition in various economic environments [70] Other Important Information - The company completed the acquisition of two Benepack beverage can facilities, enhancing its European footprint [13] - The company expects to incur approximately $35 million in direct tariff costs in 2026 as it works to domesticate some production [16] Q&A Session Questions and Answers Question: Volume growth in North and Central America segment - The company grew 4.8% in 2025, outpacing the can industry growth of about 2% due to strong customer partnerships and innovation [27][28] Question: Outlook for 2026 volume growth - The company expects volume growth at the low end of its long-term range of 1%-3% for North America until the Millersburg asset is operational [29] Question: Details on the Benepack acquisition - The acquisition is expected to optimize the European manufacturing network and support long-term volume projections [33][34] Question: Impact of tariffs and aluminum prices - The company can pass through inflationary cost pressures due to its contracts, and the U.S. consumer continues to buy aluminum cans despite rising costs [69][70] Question: Operating leverage in North America - The company achieved high single-digit volume growth in Q4, but tariff costs impacted operating leverage [50] Question: Trends in customer relationships post-management changes - The company is well contracted into 2027 with strategic customers, indicating strong long-term partnerships [76] Question: Cost savings from the Ball Business System - The company is on track to deliver $500 million in cost savings, with more than two-thirds already realized [78][79]

Financial Data and Key Metrics Changes - In 2025, the company achieved record earnings per share (EPS) of $3.57, a 13% increase from 2024 [11] - Adjusted free cash flow reached $956 million, a 2.4 times increase year-over-year [11] - The company returned over $1.5 billion to shareholders through buybacks and dividends [6][11] Business Line Data and Key Metrics Changes - North and Central America segment comparable operating earnings increased by 12% in Q4 and 3.3% for the full year [13] - EMEA segment comparable operating earnings increased by 36.7% in Q4 and 19% for the full year [16] - South America segment comparable operating earnings increased by 1% in Q4 and 10.5% for the full year [17] Market Data and Key Metrics Changes - Global shift volumes for aluminum packaging increased by 6% in Q4 and 4.1% for the full year [11] - The North American can industry grew about 2%, while the company outperformed with a 4.8% growth [26] - EMEA's growth was above the long-term range of 3%-5%, with expectations to exceed this range due to the acquisition of Benepack facilities [34][60] Company Strategy and Development Direction - The company aims to double down on profitable growth, focusing on operational excellence and customer partnerships [8][22] - The Ball Business System is central to the company's strategy, emphasizing customer engagement and operational standardization [9][10] - The company plans to maintain EVA as its core financial lens, aligning capital spending with growth and shareholder returns [22] Management's Comments on Operating Environment and Future Outlook - The management expressed confidence in achieving 10%+ comparable diluted EPS growth in 2026 [12][19] - The company anticipates some direct tariff costs in 2026, estimated at approximately $35 million, as it works to domesticate some production [15] - The management highlighted the importance of customer relationships and the ongoing shift towards aluminum packaging as key growth drivers [9][70] Other Important Information - The company completed the acquisition of two Benepack beverage can facilities, enhancing its European footprint [11][34] - The net debt to EBITDA ratio ended the year at 2.8 times, with a goal to reduce it to 2.5 times in the coming years [18] Q&A Session Summary Question: Volume growth in North and Central America segment - The company reported a 4.8% volume growth in 2025, outperforming the can industry growth of about 2% due to strong customer partnerships and innovation [26][28] Question: Outlook for 2026 volume growth - For 2026, the company expects volume growth at the low end of its long-term range of 1%-3% until new capacity in Millersburg is operational [28] Question: Details on the Benepack acquisition - The Benepack acquisition is expected to enhance the company's European manufacturing network and support long-term volume growth [34][60] Question: Emphasis on doubling down on profitable growth - The management emphasized the need to focus on operational excellence and customer engagement to achieve the long-term growth algorithm of 10%+ EPS [45][62] Question: Impact of tariffs and aluminum prices - The company is managing tariff impacts through pass-through mechanisms and is monitoring aluminum price trends, which have not significantly affected consumer demand [68][70] Question: Operating leverage in Europe - The company achieved high operating leverage in Europe due to capacity utilization and expects to maintain this in 2026 [60] Question: Changes in customer relationships post-management changes - The management has engaged extensively with major customers and is focused on strengthening long-term strategic partnerships [74] Question: Progress on cost savings from the Ball Business System - The company is on track to deliver $500 million in cost savings ahead of schedule, with significant progress already made [76][78]

February 3, 2026 Ron Lewis Chief Executive Officer Full Year & Fourth Quarter 2025 Earnings Dan Rabbitt Chief Financial Officer Forward-Looking Statement This presentation contains "forward-looking" statements concerning future events and financial performance. Words such as "aims", "goals," "vision," and similar expressions typically identify forward looking statements, which are generally any statements other than statements of historical fact. For example, the forward-looking statements in this presentat ...

分组1 - Ball reported quarterly earnings of $0.91 per share, exceeding the Zacks Consensus Estimate of $0.90 per share, and up from $0.84 per share a year ago, representing an earnings surprise of +1.60% [1] - The company achieved revenues of $3.35 billion for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 7.59%, compared to $2.88 billion in the same quarter last year [2] - Ball has outperformed the S&P 500 with a 7% increase in shares since the beginning of the year, while the S&P 500 gained 1.9% [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is $0.88 on revenues of $3.28 billion, and for the current fiscal year, it is $4.00 on revenues of $13.49 billion [7] - The Containers - Metal and Glass industry, to which Ball belongs, is currently ranked in the bottom 13% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - Crown Holdings, another company in the same industry, is expected to report quarterly earnings of $1.69 per share, reflecting a year-over-year change of +6.3%, with revenues anticipated to be $3.05 billion, up 5% from the previous year [9][10]

Financial Performance - Full-year 2025 net earnings attributable to Ball Corporation were $912 million, with diluted earnings per share of $3.30 on sales of $13.16 billion, compared to $4.01 billion net earnings and $13.00 per share on $11.80 billion sales in 2024[4] - Fourth quarter 2025 net earnings were $200 million, or 75 cents per diluted share, on sales of $3.35 billion, a significant recovery from a net loss of $32 million in Q4 2024[4] - Full-year 2025 comparable net earnings were $985 million, or $3.57 per diluted share, compared to $977 million, or $3.17 per diluted share in 2024[5] - Earnings from continuing operations for the year ended December 31, 2025, were $915 million, compared to $430 million in 2024, representing a 113.5% increase[27] - Total basic earnings per share for the year 2025 were $3.33, up from $1.39 in 2024, reflecting a 139.5% increase[27] - Comparable diluted earnings per share for the fourth quarter of 2025 were $0.91, an increase from $0.84 in the same period of 2024[51] Cash Flow and Assets - The company generated record adjusted free cash flow of $956 million in 2025[7] - Cash provided by operating activities for the year 2025 was $1,262 million, significantly higher than $115 million in 2024[28] - Cash, cash equivalents, and restricted cash at the end of 2025 were $1,221 million, up from $931 million at the end of 2024[28] - Free cash flow for the year ended December 31, 2025, was $788 million, while adjusted free cash flow, accounting for cash taxes paid related to the Aerospace disposition, was $956 million[55] - Total cash provided by operating activities for the year ended December 31, 2025, was $1,262 million, with capital expenditures of $474 million[55] Shareholder Returns - Ball returned approximately $1.54 billion to shareholders through share repurchases and dividends in 2025[6] Segment Performance - Ball's beverage packaging segment in North and Central America reported comparable operating earnings of $772 million on sales of $6.29 billion for 2025, up from $747 million on $5.62 billion in 2024[9] - The EMEA beverage packaging segment saw comparable operating earnings rise to $495 million on sales of $3.98 billion in 2025, compared to $416 million on $3.47 billion in 2024[11] - Beverage packaging sales in North and Central America for Q4 2025 were $1,572 million, a 22% increase from $1,291 million in Q4 2024[41] - Comparable segment operating earnings for Beverage packaging, EMEA increased to $123 million in Q4 2025 from $90 million in Q4 2024, a 36.7% increase[41] Acquisitions and Divestitures - Ball completed the acquisition of an 80% stake in European beverage can manufacturer Benepack for approximately €184 million[13] - The company completed the acquisition of Florida Can Manufacturing for $160 million, enhancing its beverage packaging segment[39] - The divestiture of the aerospace business was completed for $5.6 billion, resulting in a pre-tax gain of $4.61 billion[40] - The company reported a gain of $81 million from the sale of its Saudi Arabian business during the year ended December 31, 2025[51] Future Outlook - For 2026, Ball expects comparable diluted earnings per share growth of over 10% and free cash flow greater than $900 million[7] - The company aims to advance sustainable aluminum packaging while driving long-term value creation and maintaining a focus on operational excellence[21] Financial Ratios - Comparable EBITDA for the year ended December 31, 2025, was $2,041 million, with a net debt of $5,800 million, resulting in an interest coverage ratio of 6.50x and a leverage ratio of 2.84x[55] Other Financial Information - The company incurred interest expenses of $314 million for the year ended December 31, 2025[55] - The company recorded a tax provision of $240 million for the year ended December 31, 2025[55] - The unrealized loss on equity-linked notes was $(1) million for the year ended December 31, 2025[55] - Business consolidation and other activities resulted in a net impact of $(41) million for the year ended December 31, 2025[55] - Total assets increased to $19,524 million in 2025 from $17,628 million in 2024, marking an increase of 10.7%[31]

Ball Reports Strong Fourth Quarter and Full-Year 2025 Results [Accessibility Statement] Skip NavigationHighlights- Focused on advancing sustainable aluminum packaging while driving 10–plus percent comparable diluted EPS growth, increasing EVA, generating strong free cash flow, and sustaining long–term value creation in 2026 and beyond- In 2026, expect comparable diluted earnings per share growth of 10-plus percent and free cash flow greater than $900 million- Completed acquisition of majority stake in Europ ...

Key Takeaways BALL is slated to report Q4 results on Feb. 3, with net sales expected to rise 8% y/y to $3.11 billion.Ball Corp faces softer demand from muted spending, but efficiency gains and cost cuts support margins.BALL saw volume recovery through Q3, with growth expected across packaging segments despite mixed income.Ball Corporation (BALL) is scheduled to report fourth-quarter 2025 results on Feb. 3, before the opening bell.The Zacks Consensus Estimate for BALL’s net sales is pegged at $3.11 billion, ...

Core Viewpoint - Ball Corporation is currently in Phase 18 of its Adhishthana cycle, indicating a prolonged consolidation phase with the stock trading between $40 and $70 for over three years [1][5]. Group 1: Phase Analysis - The analysis of Ball's Phase 18 setup requires revisiting the Guna Triads, specifically Phases 14, 15, and 16, which are crucial for determining the potential for a Nirvana move in Phase 18 [2]. - For a Nirvana move to occur, the triads must demonstrate Satoguna, characterized by a sustained bullish structure; however, the current triad phases have not shown this bullish momentum [2][4]. - The lack of a meaningful bullish structure indicates that Phase 18 is unlikely to result in a breakout or new highs, leading to expectations of sluggish trading and false rallies [4]. Group 2: Current Stock Behavior - The stock has continued to oscillate within a wide range, with no durable trend emerging, and this pattern of consolidation is expected to persist until the conclusion of Phase 18 in August [5]. - Given the weak triad structure and absence of a Nirvana setup, the outlook for Ball Corporation remains muted, suggesting that long-term investors should not view the stock as a value opportunity at this stage [6]. - The current trading environment is more suitable for range-bound strategies, particularly options structures that benefit from time decay as Phase 18 progresses [6].

Group 1 - Ball Corporation will announce its fourth quarter 2025 earnings on February 3, 2026, before trading begins on the New York Stock Exchange [1] - A quarterly conference call will be held at 7 a.m. Mountain Time (9 a.m. Eastern Time) on the same day to discuss the company's results and performance [1] - North American callers can participate in the live Q&A session by calling 877-497-9071, while international callers should use +1 201-689-8727 [1] Group 2 - Ball Corporation provides innovative and sustainable aluminum packaging solutions for beverage, personal care, and household products [2] - The company employs 16,000 people globally and reported net sales of $11.80 billion for 2024, excluding the divested aerospace business [2] - Additional information can be found on Ball's website or through their social media channels [2]

Core Viewpoint - Ball Corporation is a leading global supplier of aluminum packaging products with a market cap of $14.3 billion, serving various industries including beverage, personal care, and household products [1] Financial Performance - The company is expected to release its fiscal Q4 2025 results soon, with analysts projecting an adjusted EPS of $0.90, reflecting a 7.1% increase from $0.84 in the same quarter last year [2] - For fiscal 2025, analysts forecast an adjusted EPS of $3.57, which is a 12.6% increase from $3.17 in fiscal 2024, and an expected rise to $4.03 in fiscal 2026, marking a 12.9% year-over-year growth [3] Stock Performance - Over the past 52 weeks, Ball Corporation's shares have declined slightly, underperforming the S&P 500 Index's 16.2% gain and the State Street Materials Select Sector SPDR ETF's nearly 12% return [4] - On November 4, shares rose by 1.5% after the company reported Q3 2025 revenue of $3.38 billion, exceeding estimates, and noted a 3.9% increase in global shipments of aluminum packaging [5] Market Outlook - Analysts maintain a cautiously optimistic view on BALL stock, with a "Moderate Buy" rating overall; among 15 analysts, six suggest a "Strong Buy," two a "Moderate Buy," six a "Hold," and one a "Strong Sell" [6] - The average analyst price target for Ball Corporation is $60.08, indicating a potential upside of 11.4% from current levels [6]