ball corp (BLL) Key Developments
Ball Corporation Presents at Jefferies 11th Annual Industrials Conference, Aug-13-2015 12:20 PM
Aug 6 15
Ball Corporation Presents at Jefferies 11th Annual Industrials Conference, Aug-13-2015 12:20 PM. Venue: Grand Hyatt, 109 E. 42nd Street, New York, New York, United States. Speakers: Scott C. Morrison, Chief Financial Officer and Senior Vice President.
Ball Corporation Announces Construction of New Plants
Jul 30 15
Ball Corporation announced the new Oss, Netherlands specialty beverage can line; and the addition of end manufacturing capacity in existing Lublin, Poland facility, which both came online this quarter; the construction of Monterrey, Mexico two-line aluminum beverage can facility, which still expects to become operational in early 2016; the construction of a new beverage can plant in Myanmar, slated to open in early 2016; a new U.S. tinplate aerosol can manufacturing technology, which is in the process of starting up; the expansion of aluminum impact extruded container business in Europe, which is expected to be operational by early 2016; and the construction of a new aluminum impact extruded aluminum facility in India, which is expected to come online by year-end 2015.
Ball Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Free Cash Flow Guidance for the Year 2015
Jul 30 15
Ball Corporation reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net sales of $2,172.3 million against $2,291.9 million a year ago. Earnings before interest and taxes were $273.8 million against $255.9 million a year ago. Earnings before taxes were $237.8 million against $215.3 million a year ago. Net earnings attributable to the company were $160.4 million or $1.13 diluted per share against $153.1 million or $1.07 diluted per share a year ago.
For the six months, the company reported net sales of $4,095.4 million against $4,298.7 million a year ago. Earnings before interest and taxes were $399.7 million against $473.3 million a year ago. Earnings before taxes were $265.3 million against $359.4 million a year ago. Net earnings attributable to the company were $181.1 million or $1.28 diluted per share against $246.6 million or $1.72 diluted per share a year ago. Cash provided by operating activities was $211.7 million against $210.0 million a year ago. Capital expenditures were $227.7 million against $135.3 million a year ago.
The company continues to expect 2015 free cash flow to be in the range of $600 million, excluding cash costs for the proposed Rexam acquisition, and the company has executed additional currency and interest rate hedges to mitigate risk related to the proposed acquisition and to lock in the transaction's purchase price economics. CapEx will likely be in the range of $450 million, up $50 million from previous estimate given year-to-date's project dollar spent. Interest expense will be roughly $150 million, excluding debt refinancing and other costs. The effective tax rate is now expected to be closer to 28%, due primarily to the geography of earnings.
Ball Corp. to Shut Down Virginia Can Plant
Jul 29 15
Ball Corp. announced that it will cease production at a plant in Bristol, Virginia, where it makes the ends for beverage cans. The company announced that it will make the ends at its other plants instead. The facility opened in 1971 and is one of Ball's oldest North American beverage packaging plants. It employs 230 workers. The plant will close in the second quarter of 2016.
Ball Corporation Declares Quarterly Cash Dividend, Payable on Sept. 15, 2015
Jul 29 15
Ball Corporation board of directors declared a quarterly cash dividend of 13 cents per share, payable on Sept. 15, 2015, to shareholders of record as of Sept. 1, 2015.