Westminster, Colorado – November 03, 2026 -- Ball Corporation (NYSE: BALL) reported third-quarter 2026 comparable diluted earnings per share of $1.10, up 6.8% from $1.03 a year earlier, while U.S. GAAP results swung to a net loss of $94 million, or 36 cents per diluted share, versus earnings of $1.18 per share in 2025.
Sales reached $4.19 billion, compared with $3.38 billion in the prior-year quarter. Comparable net earnings were $293 million versus $280 million. Comparable operating earnings rose 2.5% to $451 million from $440 million. Global aluminum packaging shipments increased 4.7%.
Ball lifts volume in all three beverage segments, but North America earnings slip
Beverage Packaging, North and Central America, posted comparable operating earnings of $210 million on sales of $2.06 billion, versus $215 million on $1.64 billion a year earlier. Volume grew by a low-single-digit percentage. Higher operating costs and plant start-up costs outweighed favorable price/mix, including the timing of metal pass-through to customers. Higher aluminum prices drove much of the sales increase.
Beverage Packaging, EMEA, earned $170 million on sales of $1.33 billion, up from $164 million on $1.13 billion. Volume rose by a mid-single-digit percentage. The segment includes the acquired Benepack business and, following a first-quarter 2026 realignment, the facilities in India and Myanmar and the former Saudi Arabian business.
Beverage Packaging, South America, delivered the strongest growth. Comparable operating earnings climbed to $92 million from $77 million, and sales rose to $653 million from $508 million. Volume increased by a low-double-digit percentage.
Undistributed corporate expenses were higher year over year, which weighed on the non-reportable category.
Ball commits to new can plants in Baruth, Germany, and India
Ball is investing in a new beverage can manufacturing facility in Baruth, Germany, to support customer growth in EMEA. It also announced a new beverage can plant in India. Both projects are meant to expand the company's regional manufacturing network.
Ball returned $431 million to shareholders in nine months and targets at least $800 million by year-end
The company returned $431 million through share repurchases and dividends in the first nine months of 2026. It remains on track to return at least $800 million by year-end.
For 2026, Ball expects comparable diluted EPS growth of 10-plus percent and free cash flow of about $900 million. CFO Dan Rabbitt said the company remains on track for its long-term objective of 4 to 6 percent operating earnings growth, supported by contractual pass-through mechanisms.
CEO Ron Lewis said the "external environment remains volatile," but he pointed to EVA-accretive growth projects as the focus for capital deployment.
Ball adopted updated segment reporting and profitability measures in the first quarter of 2026, which apply to both 2026 and 2025 results. The company deconsolidated its aluminum cups business on March 21, 2025. On August 27, 2025, it sold 41 percent of its 51 percent stake in Ball United Arab Can Manufacturing Company and retained a 10 percent interest.