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Ball Reports Solid Second-Quarter Results as Demand for Aluminum Cans Remains Strong

Analyst Note

| Brian Bernard, CFA, CPA |

Narrow-moat-rated Ball reported strong revenue growth in the second quarter, driven by heightened demand for aluminum cans. Revenue increased 23% year over year, while up roughly 10% sequentially. Demand continues to outpace supply as beverage consumption has moved from taps to cans and bottles. Ball is still facing capacity constraints due to strong demand, but management reiterated its goal to invest $1.5 billion in the year to increase capacity. Ball opened multiple new lines in its manufacturing facilities, with a majority of those lines producing aluminum cans.

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Company Profile

Business Description

Ball is the world's largest metal can manufacturer. The company is focused on increasing capacity amid a wave of new developed-market demand, while pivoting toward faster-growing emerging-market economies in beverage cans. Ball maintains a small presence in both the North American food can market and the U.S. defense industry through its aerospace segment.

10 Longs Peak Drive, P.O. Box 5000
Broomfield, CO, 80021-2510
T +1 303 469-3131
Sector Consumer Cyclical
Industry Packaging & Containers
Most Recent Earnings Jun 30, 2021
Fiscal Year End Dec 31, 2020
Stock Type Cyclical
Employees 21,500