Revenue: As of FY2026 Q2, the actual value is USD 3.997 B, beating the estimate of USD 3.685 B.

EPS: As of FY2026 Q2, the actual value is USD 0.83, missing the estimate of USD 0.8833.

EBIT: As of FY2026 Q2, the actual value is USD 347 M.

Overall Financial Performance (Second Quarter 2026 vs. 2025)

• Net Earnings Attributable to Ball Corporation were $221 million in Q2 2026, up from $212 million in Q2 2025.
• Comparable Operating Earnings reached $433 million in Q2 2026, marking a 7.7% increase from $402 million in Q2 2025.
• Global Aluminum Packaging Shipments increased by 4.3% in the second quarter of 2026.

Segment Revenue and Operating Earnings (Second Quarter 2026 vs. 2025)

Beverage Packaging, North and Central America

• Sales were $2.00 billion in Q2 2026, compared to $1.61 billion in Q2 2025, driven by higher volume and favorable price/mix due to higher aluminum prices.
• Comparable Operating Earnings were $207 million in Q2 2026, a decrease from $212 million in Q2 2025, primarily due to higher costs from increased volumes, operating costs, and plant start-up costs, partially offset by favorable price/mix including metal pass-through timing.
• Segment volume increased by a low-single digit percentage year-over-year.

Beverage Packaging, EMEA

• Sales reached $1.24 billion in Q2 2026, up from $1.12 billion in Q2 2025, reflecting higher year-over-year shipments and favorable price/mix.
• Comparable Operating Earnings were $162 million in Q2 2026, an increase from $152 million in Q2 2025, driven by higher volume and favorable price/mix, partially offset by higher costs.
• Segment volume increased by a mid-single digit percentage year-over-year, including results from the acquired Benepack business and facility realignments.

Beverage Packaging, South America

• Sales were $591 million in Q2 2026, compared to $477 million in Q2 2025, reflecting higher volume and favorable price/mix, primarily due to higher aluminum prices.
• Comparable Operating Earnings were $82 million in Q2 2026, significantly higher than $50 million in Q2 2025, driven by increased volumes and favorable price/mix.
• Segment volume increased by a mid-teen percentage year-over-year.

Non-reportable

• Second quarter results reflect higher year-over-year undistributed corporate expenses.

Cash Flow (Six Months Ended June 30, 2026 vs. 2025)

• Cash provided by operating activities was - $169 million for the six months ended June 30, 2026, an improvement from - $333 million in the same period of 2025.
• Capital expenditures were - $302 million for the six months ended June 30, 2026, compared to - $177 million in the prior year period.
• Free Cash Flow was - $471 million for the six months ended June 30, 2026.
• Adjusted Free Cash Flow was - $575 million for the six months ended June 30, 2026.

Other Key Financial Metrics (Six Months Ended June 30, 2026 vs. 2025)

• Net Earnings Attributable to Ball Corporation were $426 million for the six months ended June 30, 2026, up from $391 million in the prior year period.
• Comparable Net Earnings were $527 million for the six months ended June 30, 2026, compared to $470 million in the same period of 2025.
• Ball Corporation returned $222 million to shareholders via share repurchases and dividends in the first six months of 2026.

Balance Sheet Metrics (June 30, 2026)

• Total Debt at period end was $7,220 million.
• Cash and cash equivalents were $491 million.
• Net Debt stood at $6,729 million.
• Interest Coverage for the year ended June 30, 2026, was 6.65x.
• Leverage for the year ended June 30, 2026, was 3.16x.

Outlook

Ball Corporation anticipates comparable diluted earnings per share growth of 10-plus percent and free cash flow greater than $900 million in 2026. The company is on track to return at least $800 million to shareholders through share buybacks and dividends by year-end 2026. Its strategy focuses on long-term value creation, disciplined execution, and leveraging its resilient business model to capitalize on the growth of aluminum packaging.