EarningsQ2 2026 Earnings Report
MX:BALL Q2 2026 EPS Results
Actual EPS$17.67
Consensus EPS$16.97
Beat/MissBeat by +$0.70
One Year Ago EPS$15.44
MX:BALL Q2 2026 Revenue Results
Actual Revenue$69.74B
Expected Revenue$63.34B
Beat/MissBeat by +$6.40B
YoY Revenue Growth+22.40%
Earnings Announcement Details
QuarterQ2 2026
Date08/04/2026
TimeBefore Open
Conference CallTuesday, August 4, 2026
MX:BALL Upcoming Earnings
Ball's next earnings date is estimated for October 29, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:BALL Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a predominantly positive view: company-wide volume and earnings growth (global volumes +4.3%, comparable operating earnings +7.7%, EPS +14.4%), strong regional outperformance in South America and steady EMEA momentum aided by Benepack, clear capital return and free cash flow targets (> $900M FCF, ~$800M returned to shareholders), and Millersburg beginning commercial production with a planned 2027 ramp. Offsetting items include near-term operational friction from tight capacity (especially North America), $35M of Millersburg start-up costs impacting margins in 2026, Benepack integration work that is not yet fully accretive, and sensitivity to aluminum costs. Overall, positives (volume, EPS, cash returns, strategic positioning) materially outweigh the near-term operational headwinds.Company Guidance
Global Volume Growth
Shipped beverage can volumes increased 4.3% year-over-year in Q2 2026 (sixth consecutive quarter of growth), with growth in each region (North & Central America: low single digits; EMEA: mid-single digits; South America: mid-teens).
Operating Earnings and EPS Expansion
Comparable operating earnings rose 7.7% year-over-year in Q2 2026 and comparable diluted EPS increased 14.4% year-over-year, reinforcing confidence in delivering 10%+ comparable diluted EPS growth for full-year 2026.
Strong South America Performance
South America volumes increased mid-teens year-over-year and segment comparable operating earnings grew 64% year-over-year, driven by higher volumes and favorable price/mix.
EMEA Volume and Earnings Momentum (Benepack Contribution)
EMEA volumes grew mid-single digits year-over-year (including Benepack), and segment comparable operating earnings increased 6.6% year-over-year, with management expecting EMEA volume growth above the long-term 3%–5% range for the year.
Strong Cash Generation and Shareholder Returns
Company expects free cash flow > $900 million in 2026, plans to return approximately $800 million to shareholders (at least $600 million through repurchases plus dividends), and has repurchased about $100 million through H1 with remainder expected in the back half.
Balance Sheet & Capital Guidance
Management expects year-end net debt to comparable EBITDA around 2.7x, full-year interest expense ~ $310 million, effective comparable tax rate slightly above 23%, and CapEx in line with GAAP depreciation & amortization.
Millersburg Commercial Production Began; 2027 Ramp
Millersburg facility started making commercial cans; full ramp-up targeted for 2027 and expected to be a contributor in 2027 (startup costs largely in 2026).
Operational Improvements and Strategy Execution
Continued focus on Ball Business System, standardization, cost discipline and EVA-driven capital allocation; management reports improved productivity and consistent execution across the network.
MX:BALL Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed