Print Page     Close Window     

SEC Filings

8-K
BALL CORP filed this Form 8-K on 02/07/2018
Entire Document
 
Exhibit 99.1

News Release
For Immediate Release
www.ball.com
Investor Contact: Ann T. Scott
(303) 460-3537, ascott@ball.com
Media Contact: Renee Robinson
(303) 460-2476, rarobins@ball.com
Ball Reports Strong 2017 Operating Results and Cash Flow;
Reaffirms 2019 Long-Term Goals
 
Highlights
   
Full-year and fourth quarter U.S. GAAP earnings per diluted share of $1.12 and 52 cents, respectively, vs. full-year and fourth quarter 2016 results of 81 cents and 15 cents, respectively; 2017 figures include the impact of the U.S. Tax Cuts and Jobs Act
   
Full-year and fourth quarter comparable earnings per diluted share of $2.04 and 60 cents, respectively, vs. 2016 comparable results of $1.74 and 44 cents; an increase of 17 percent and 36 percent, respectively
   
Higher year-over-year fourth quarter financial performance in every operating segment
   
Aerospace contracted backlog of $1.75 billion at year-end; a 25 percent year-over-year increase
   
Generated 2017 comparable EBITDA of $1.75 billion and free cash flow of $922 million, after $556 million of capital expenditures
   
Company reaffirms 2019 goals of $2 billion of comparable EBITDA and free cash flow in excess of $1 billion
   

BROOMFIELD, Colo., Feb. 7, 2018 – Ball Corporation (NYSE: BLL) today reported, on a U.S. GAAP basis, full-year 2017 net earnings attributable to the corporation of $399 million (including the net effect of after-tax charges of $329 million, or 92 cents per diluted share for the U.S. Tax Cuts and Jobs Act, business consolidation and other non-comparable costs) or $1.12 per diluted share, on sales of $11.0 billion, compared to $263 million attributable to the corporation, or 81 cents per diluted share (including the net effect of after-tax charges of $300 million, or 93 cents per diluted share for business consolidation, debt refinancing and other non-comparable costs), on sales of $9.1 billion in 2016. Ball's 2017 comparable net earnings were $728 million, or $2.04 per diluted share, compared to $563 million, or $1.74 per diluted share in 2016.
Fourth quarter 2017 net earnings attributable to Ball Corporation, on a U.S. GAAP basis, were $184 million, or 52 cents per diluted share, on sales of $2.75 billion, compared to $52 million, or 15 cents per diluted share, on sales of $2.5 billion, in the fourth quarter of 2016. Ball's fourth quarter 2017 comparable net earnings were $213 million, or 60 cents per diluted share, compared to $155 million, or 44 cents per diluted share in the fourth quarter of 2016.
Earnings per share figures include the impact of the company's two-for-one stock split effective May 16, 2017. The historical 2016 comparable operating results prior to June 30, 2016, exclude the effects of the Rexam transaction. Details of comparable segment earnings, business consolidation activities and other non-comparable costs, impact of the U.S. Tax Cuts and Jobs Act, and catch-up depreciation entries for the last six months of 2016 and recorded in 2017 related to the finalization of the fair values for the June 30, 2016, Rexam acquisition can be

 
Ball Corporation · 10 Longs Peak Drive · P.O. Box 5000 · Broomfield, CO 80021 · www.ball.com
Page 1

© 2015 Ball Corporation