Ball Corporation posts Y-o-Y growth in earnings per share, attributed to a European aluminium packaging firm acquisition

In late October, before declaring third-quarter financial results, Ball Corporation completed the acquisition of a European aluminium packaging firm, Alucan Entec SA, which is believed to have boosted earnings per share on a year-on-year basis.

Image Source: Ball Corporation

The acquisition, worth $8 million, complements the company’s existing global extruded aluminium aerosol and bottle business with the addition of two manufacturing facilities near Lummen, Belgium, and Llinars del Vallés, Spain.

Ball Corporation, in its third-quarter results, reported that its third-quarter 2024 net earnings attributable to the corporation were $197 million against $3.08 billion in sales, compared to #203 million net earnings on sales of $3.11 billion a year ago. Earnings per diluted share were 91 cents in the most recent quarter, up from 83 cents in Q3 2023.

“We delivered strong third-quarter results and have returned $1.25 billion to shareholders in the first nine months of 2024,” said Ball’s CEO, Daniel Fisher, in a prepared statement.

He added, “Leveraging our strong financial position and leaner operating model, the company remains uniquely positioned to enable our purpose of advancing the greater use of sustainable aluminium packaging, despite the current end consumer environment in certain geographies. We continue to complement our purpose by driving innovation and sustainability on a global scale, unlocking additional manufacturing efficiencies and enabling consistent delivery of high-quality, long-term shareholder value creation.”