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Financial Performance - Ball Corporation reported net sales of $2,801 million for the three months ended June 30, 2020, a decrease from $3,017 million in the same period of 2019, representing a decline of approximately 7.2%[127] - Net earnings attributable to Ball Corporation for the three months ended June 30, 2020, were $94 million, down from $197 million in the same period of 2019, reflecting a decrease of about 52.3%[127] - Cash flows from operating activities for the six months ended June 30, 2020, were $(232) million, a decrease from $253 million in the same period of 2019[153] - The company recorded net sales of $3,508 million for the six months ended June 30, 2020, compared to $6,540 million for the year ended December 31, 2019[173] - Gross profit for the six months ended June 30, 2020, was $446 million, down from $789 million for the year ended December 31, 2019[173] Cost and Expenses - Cost of sales for the three months ended June 30, 2020, was $2,230 million, accounting for 80% of consolidated net sales, compared to 80% in the same period of 2019[124] - Selling, general and administrative expenses were $111 million for the three months ended June 30, 2020, consistent with the same period in 2019, representing 4% of consolidated net sales[126] - Business consolidation costs were $112 million for the three months ended June 30, 2020, compared to $14 million in the same period of 2019, representing 4% of consolidated net sales[128] - Total interest expense for the three months ended June 30, 2020, was $67 million, down from $81 million in the same period of 2019, with interest expense as a percentage of average monthly borrowings at 3%[129] Tax and Earnings - The effective tax rate for the three months ended June 30, 2020, was 20.7%, an increase from 13.7% in the same period of 2019, primarily due to the revaluation of deferred tax assets[130] - Comparable diluted earnings per share for the six months ended June 30, 2020, were $1.26 compared to $1.13 in the same period in 2019[151] - Comparable operating earnings for the three months ended June 30, 2020, were $48 million higher compared to the same period in 2019, and for the six months, they were $76 million higher[136] Segment Performance - Segment sales for the three months ended June 30, 2020, were $19 million lower compared to the same period in 2019, while for the six months, they were $31 million higher[135] - Net sales for the Beverage Packaging segment in South America for the three months ended June 30, 2020, were $48 million lower compared to the same period in 2019[143] - Comparable operating earnings for the Aerospace segment for the three months ended June 30, 2020, were $30 million lower compared to the same period in 2019[144] - Total segment earnings for the Beverage Packaging segment in EMEA for the three months ended June 30, 2020, were $45 million compared to $65 million in the same period in 2019[137] - Comparable operating earnings as a percentage of segment net sales for the Beverage Packaging segment in South America were 14% for the three months ended June 30, 2020, compared to 17% in the same period in 2019[142] Investments and Capital Expenditures - The company expects capital expenditures for property, plant, and equipment to exceed $900 million for 2020, with approximately $700 million contractually committed as of June 30, 2020[160] - Cash outflows from investing activities increased by $177 million, from $264 million in 2019 to $441 million in 2020, primarily due to a $172 million increase in capital expenditures for large growth projects[155] Cash Flow and Debt - Cash flows from financing activities decreased by $495 million, from inflows of $107 million in 2019 to outflows of $388 million in 2020, mainly due to the redemption of €400 million and $1 billion senior notes[156] - Total interest-bearing debt was $7.7 billion as of June 30, 2020, compared to $7.8 billion at December 31, 2019[163] - As of June 30, 2020, approximately $436 million of cash was held outside the U.S., with no material restrictions on repatriation[161] COVID-19 Impact - The company is unable to reasonably estimate the full impact of the COVID-19 outbreak on its financial results[185] - The company has implemented alternative work arrangements, including work from home, to minimize risks associated with COVID-19[187] - The company may face increased competition within the beverage packaging and aerospace industries due to COVID-19[185] - The company could lose key customers or experience a reduction in demand for its products and services[185] - The company may be subject to adverse fluctuations in currency exchange rates impacting its operations[185] - The company has taken actions such as delaying growth capital spending and modifying payment terms with customers to mitigate potential supply disruptions[187] - The company may face prolonged work stoppages at its facilities due to the pandemic[185] - The company’s access to capital markets may be restricted, adversely affecting its short-term liquidity[185] - The company may be impacted by deterioration in the global credit, financial, and economic environment[185] - The company has the potential for goodwill and other long-lived assets to become impaired due to the pandemic[185]

Ball Corporation (BLL) Q2 2020 Earnings Conference Call August 6, 2020 11:00 AM ET Company Participants John Hayes - CEO Scott Morrison - SVP and CFO Dan Fisher - SVP and COO of Global Beverage Conference Call Participants Anthony Pettinari - Citi Neel Kumar - Morgan Stanley George Staphos - Bank of America Arun Viswanathan - RBC Ghansham Panjabi - Baird Mike Leithead - Barclays Brian Maguire - Goldman Sachs Mark Wilde - Bank of Montreal Gabe Hajde - Wells Fargo Securities Operator Greetings and welcome to ...

Ball Corporation (BLL) Q1 2020 Earnings Conference Call May 7, 2020 11:00 AM ET Company Participants John Hayes - Chief Executive Officer Dan Fisher - Senior Vice President and Chief Operating Officer of Global Beverage Scott Morrison - Senior Vice President and Chief Financial Officer Conference Call Participants Michael Slutsky - Morgan Stanley Bryan Burgmeier - Citi Ghansham Panjabi - Baird George Staphos - Bank of America Tyler Langton - JPMorgan Arun Viswanathan - RBC Capital Markets Brian Maguire - Go ...

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Table of Contents Title of each classTrading Symbol Name of each exchange on which registered Common Stock, without par value BLL New York Stock Exchange UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Num ...

Financial Data and Key Metrics Changes - In Q4 2019, comparable operating earnings increased by 14%, and diluted earnings per share rose by 29% compared to the previous year [6][21] - Full year comparable diluted earnings per share increased by 15% to $2.53, up from $2.20 in 2018 [21] - Free cash flow for 2019 was $950 million, with $1.1 billion returned to shareholders [22][24] Business Line Data and Key Metrics Changes - Global beverage volumes increased by 5% year-over-year, with specialty can growth of 9% for the full year [7][15] - North American segment volumes were up 2% in Q4 and 4% for the full year, with specialty cans growing 5% in Q4 and 9% for the full year [15] - Aerospace business reported a 24% revenue and operating earnings growth, with a 14% increase in year-end backlog [25][26] Market Data and Key Metrics Changes - North America is expected to see 4% to 6% volume growth over the next five years, while South America is projected at 5% to 8% and Europe at 3% to 6% [20] - European beverage earnings increased by 9% in 2019, despite flat volumes in Q4 due to tough comparisons [17][19] Company Strategy and Development Direction - The company is focused on operational excellence, sustainability, and expanding its aluminum packaging portfolio, including the new aluminum cups business [10][12] - Plans include constructing new specialty beverage can plants in Glendale, Arizona, and the Northeast U.S. to meet growing demand [16] - The company aims to leverage its market leadership in sustainability to drive growth in aluminum beverage cans [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in overcoming operational challenges faced in 2019 and anticipates strong earnings momentum in 2020 [15][16] - The company is optimistic about the growth potential in the aluminum packaging market, driven by sustainability trends and customer demand [10][20] - Management highlighted the importance of improving operational efficiencies and customer satisfaction as key focus areas for 2020 [14][39] Other Important Information - The company completed the sale of underperforming businesses, generating $800 million in cash to strengthen its balance sheet [8][22] - The company is actively investing in new aluminum packaging production to meet increasing demand [11][14] Q&A Session Summary Question: North American beverage inefficiencies and scrap recovery - Management confirmed that the anticipated $30 million in inefficiencies and $40 million in scrap recovery are still expected, with improvements starting in Q1 [28][29] Question: European market performance and customer mix - Management acknowledged that conscious decisions to walk away from certain business contributed to flat volumes in Europe, but expects growth in the coming quarters [41][42] Question: Volume growth expectations and supply chain needs - Management indicated that the 4% to 6% volume growth is based on market expectations, and discussions with retailers are ongoing to secure additional supply [35][36] Question: Capacity expansions and operational improvements - Management emphasized the importance of early hiring and detailed training for new capacity expansions to ensure smoother ramp-ups [38][39] Question: Free cash flow components and working capital - Management explained that strong collections and operational performance contributed to free cash flow, while pension funding was a significant factor in the year-over-year swing [58][72]

Financial Performance - Net sales for Q3 2019 were $2,953 million, a slight increase from $2,946 million in Q3 2018, while year-to-date sales decreased to $8,755 million from $8,832 million[4]. - Net earnings for Q3 2019 were $92 million, up from $59 million in Q3 2018, and year-to-date net earnings increased to $406 million from $304 million[5]. - Earnings per share for Q3 2019 were $0.28, compared to $0.17 in Q3 2018, with year-to-date earnings per share rising to $1.22 from $0.87[4]. - The company reported a total comprehensive earnings of $173 million for Q3 2019, compared to $26 million in Q3 2018[5]. - Ball Corporation reported net earnings attributable to Ball Corporation for the three months ended September 30, 2019, were $92 million, compared to a net loss of $43 million in the same period of the previous year[141]. - Net earnings for the nine months ended September 30, 2019, increased to $406 million from $303 million in 2018, driven by higher beverage can unit volumes and increased sales in the aerospace segment[164]. Assets and Liabilities - Total assets decreased to $16,237 million as of September 30, 2019, from $16,554 million at the end of 2018[8]. - Total liabilities decreased to $12,772 million from $12,992 million at the end of 2018[8]. - The company’s total equity decreased to $3,465 million as of September 30, 2019, from $3,562 million at the end of 2018[8]. - Trade accounts receivable increased to $922 million as of September 30, 2019, compared to $812 million at December 31, 2018, reflecting a growth of 13.5%[62]. - Total current assets amounted to $3,829 million, with cash and cash equivalents at $483 million and receivables at $1,957 million[148]. - Total liabilities reached $12,772 million, with current liabilities at $3,773 million and long-term debt at $6,623 million[148]. Cash Flow and Investments - Cash provided by operating activities for the nine months ended September 30, 2019, was $656 million, down from $1,027 million in the same period of 2018[10]. - The company reported a net change in short-term borrowings of $131 million, indicating a positive cash flow from financing activities of $350 million[150]. - Capital expenditures for property, plant, and equipment are expected to exceed $600 million in 2019, with approximately $430 million contractually committed as of September 30, 2019[200]. - The company has entered into accounts receivable factoring programs with limits of approximately $1.3 billion as of September 30, 2019, with $155 million available for sale under these programs[198]. Segment Performance - The Aerospace segment achieved net sales of $374 million for the three months ended September 30, 2019, up 32% from $283 million in the same period last year[30]. - Comparable operating earnings for the Beverage Packaging, North and Central America segment were $157 million for the three months ended September 30, 2019, compared to $153 million in the same period of 2018, representing a 2.6% increase[30]. - Beverage Packaging segment sales in South America for the three months ended September 30, 2019, were $392 million, slightly higher than $391 million in 2018, while for the nine months, sales decreased to $1,210 million from $1,229 million[182]. - Aerospace segment net sales for the three months ended September 30, 2019, were $374 million, an increase from $283 million in 2018, and for the nine months, sales rose to $1,081 million from $837 million[186]. Shareholder Returns - The company declared dividends of $0.15 per share for the three months ended September 30, 2019, compared to $0.10 per share in the same period of 2018, marking a 50% increase[106]. - The company repurchased 3.8 million shares at an average price of $65.93, totaling $250 million in May 2019[98]. - The Board authorized the repurchase of up to 50 million shares, replacing all previous authorizations[99]. Tax and Pension Obligations - The effective tax rate for the three months ended September 30, 2019, was 26.9%, influenced by various factors including pension plan settlements and share-based compensation[86]. - Contributions to defined benefit pension plans were $154 million for the first nine months of 2019, significantly higher than $53 million for the same period in 2018[93]. - Underfunded defined benefit pension liabilities decreased to $834 million as of September 30, 2019, from $954 million at December 31, 2018[87]. Risk Management - The company’s risk management policies aim to reduce exposure to fluctuations in commodity prices, interest rates, and currency exchange rates, although effectiveness cannot be guaranteed[107]. - The company has estimated potential liabilities for environmental matters at approximately $28 million, included in current and noncurrent liabilities[127]. - The company has not identified any circumstances requiring adjustments to the reported values of its financial instruments as of September 30, 2019[119].

Ball Corporation (BLL) Q3 2019 Results Earnings Conference Call October 31, 2019 11:00 AM ET Company Participants John Hayes - Chief Executive Officer Scott Morrison - Chief Financial Officer Daniel Fisher - Chief Operating Officer Conference Call Participants George Staphos - Bank of America Merrill Lynch Brian Maguire - Goldman Sachs Ghansham Panjabi - Baird Anthony Pettinari - Citi Tyler Langton - JPMorgan Adam Josephson - KeyBanc Capital Markets Chip Dillon - Vertical Research Partners Arun Viswanathan ...