Ball - BALL STOCK NEWS

Ball Aerospace has successfully completed the spacecraft bus for the Weather System Follow-on-Microwave (WSF-M) satellite, a project for the U.S. Space Force. Final environmental testing on the Microwave Imager (MWI) instrument was also concluded, with subsequent steps including final vehicle assembly and integration underway. WSF-M aims to enhance environmental prediction capabilities for the Department of Defense, addressing critical gaps in monitoring ocean surface winds and space weather. Ball has also secured a contract modification to develop a second WSF-M vehicle, targeted for completion by late 2027.

Ball Corporation (NYSE: BALL) will disclose its fourth quarter 2022 earnings on February 2, 2023, before NYSE trading opens. A quarterly conference call will take place at 9 a.m. Mountain time (11 a.m. Eastern), where company performance will be discussed. For those unable to join live, a replay will be available until February 9, 2023. Ball Corporation specializes in sustainable aluminum packaging, employing around 24,300 people globally, with reported net sales of $13.8 billion in 2021.

Ball Aerospace has appointed Dr. Alberto Conti as vice president and general manager of its Civil Space Strategic Business Unit, effective immediately. Dr. Conti will lead various initiatives focused on science, weather, Earth observation, and advanced technologies. His previous roles include director for New Business and Innovation Solutions at Ball and innovation manager at Northrop Grumman. David Kaufman, president of Ball Aerospace, praised Conti for his strong leadership and experience, indicating that his leadership will align with the company’s strategic goals.

Ball Corporation (NYSE: BALL) priced an underwritten public offering of $750 million in 6.875% Senior Notes due 2028. The offering is expected to close on November 25, 2022. Proceeds will be used to repay approximately $528 million of 4.375% Euro denominated Senior Notes due in December 2023 and $200 million of outstanding borrowings under its U.S. revolving credit facility. BofA Securities, Citigroup, Deutsche Bank, and Goldman Sachs are acting as joint managers. The offering is under a shelf registration statement declared effective by the SEC.

Ball Corporation, on November 9, 2022, announced an underwritten public offering of $750 million in Senior Notes due 2028. Proceeds will contribute to repaying $528 million of existing Euro-denominated Senior Notes and approximately $200 million in outstanding borrowings under its U.S. revolving credit facility. The timing and terms of the offering are contingent on market conditions. The offering is managed by top financial institutions such as BofA Securities and Goldman Sachs, under a previously effective shelf registration statement.

Ball Corporation reported significant growth in its third-quarter earnings, with diluted earnings per share of $1.24, compared to 54 cents in 2021. The company completed the sale of its Russian operations, generating $530 million for debt reduction. However, comparable diluted earnings per share fell to 75 cents, down from 94 cents in the previous year, influenced by unfavorable foreign exchange impacts. Despite challenges, global demand for aluminum packaging remains strong, with beverage can shipments up 5.7%. The company anticipates long-term diluted EPS growth between 10% and 15%.

Ball Corporation's board declared a cash dividend of 20 cents per share, payable December 15, 2022, to shareholders on record as of December 1, 2022.

The company will announce its third quarter 2022 earnings on November 3, 2022 at 9 a.m. Mountain time. A taped replay will be available from 11 a.m. Mountain time on the same day until November 10, 2022.

Ball Corporation (NYSE: BALL) is expanding its Ball Aluminum Cup portfolio by introducing new 9-ounce and 12-ounce sizes, in addition to its existing 16-ounce, 20-ounce, and 24-ounce options. This move caters to the growing demand for sustainable beverage packaging, with all cups featuring 90% recycled content, the highest in their category. The cups are currently available at select venues and can be purchased directly. The expansion aligns with consumer trends towards sustainability, as 85% of consumers are willing to pay more for eco-friendly products.