Manufacturing  August 4, 2016

Ball Corp. reports $369M in net income for second quarter

BROOMFIELD — Ball Corp. (NYSE: BLL) on Thursday reported net earnings of $369 million, or $2.54 per share, for its second quarter that ended June 30.

The Broomfield-based can manufacturer generated $2.03 billion in revenue for the quarter.

The net earnings included after-tax income of $217 million, or $1.49 per diluted share, associated with the sale of certain assets required by regulators before they approved Ball’s acquisition of London-based metal beverage-can maker Rexam for $6.1 billion in cash and equity at the end of June.

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Following the deal, Ball became the largest manufacturer of beverage cans in the world.

By comparison, during the second quarter of last year, Ball Corp. generated $2.2 billion in revenue and net earnings of $160 million, or $1.60 per share.

Ball Corp.’s quarterly results included Ball Aerospace and Technologies Corp., a subsidiary based in Boulder, that generated net earnings of $19 million on sales of $193 million for the second quarter, compared with net earnings of $20 million on sales of $230 million in the second quarter of 2015.

“Our strong second-quarter results, the completion of legacy metal packaging growth projects, a robust aerospace backlog and the recent Rexam acquisition provide a very solid foundation for a multiyear, value-compounding growth period for our company and our shareholders,” John A. Hayes, Ball Corp.’s chairman, president and chief executive, said in a prepared statement.

Hayes said one month into the acquisition integration that business-related services and manufacturing operations are running smoothly. “The past 17 months of planning have evolved into action, and the synergy execution process is well underway in all value-capture work streams.”

BROOMFIELD — Ball Corp. (NYSE: BLL) on Thursday reported net earnings of $369 million, or $2.54 per share, for its second quarter that ended June 30.

The Broomfield-based can manufacturer generated $2.03 billion in revenue for the quarter.

The net earnings included after-tax income of $217 million, or $1.49 per diluted share, associated with the sale of certain assets required by regulators before they approved Ball’s acquisition of London-based metal beverage-can maker Rexam for $6.1 billion in cash and equity at the end of June.

Following the deal, Ball became the largest manufacturer of beverage cans in the world.

By comparison, during the…

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