Ball Corp. sees FY24 comparable EPS growth, consensus $3.04

“During the quarter, incremental volume growth, favorable cost management and the immediate use of aerospace business sale proceeds combined with cash on hand resulted in strong results, $2.8 billion of debt retirement and the initiation of our multi-year share repurchase program. Throughout the remainder of the year, our strong cash flow and cash on hand will support prudent business investments, pay quarterly taxes due on the aerospace sale totaling approximately $1.0 billion, and expand share repurchases to in the range of $1.3 billion by year end,” said Howard Yu, executive vice president and chief financial officer. “The strategic actions we have taken have strengthened our company in the short- to medium-term and position us for opportunity over the long-term. The team is operating at a high level and is focused on executing our enterprise-wide strategy with purpose and pace to advance aluminum packaging and consistently deliver high-quality results, products and returns. In 2024, we are positioned to achieve comparable diluted earnings per share growth, generate strong free cash flow and return in excess of $1.5 billion to shareholders through a combination of share repurchases and dividends,” Fisher said.