Ball (BALL) Q2 2026 earnings summary

Executive summary

• Global beverage can volumes grew 4.3% year-over-year in Q2 2026, outpacing the can market in all operating regions.

• Comparable diluted EPS rose 14.4% year-over-year to $1.03, with net earnings attributable to shareholders reaching $221 million on $3.997 billion in sales.

• Integration of Benepack's European beverage can business expanded EMEA capacity, and the Millersburg facility ramp-up is on track for full operation in 2027.

• Returned $222 million to shareholders in the first half of 2026, on track for $800 million in buybacks and dividends for the full year.

• The company remains focused on core business execution, customer proximity, accelerating the shift to aluminum, and managing complexity.

Financial highlights

• Q2 2026 global shipped beverage can volumes up 4.3% year-over-year.

• Comparable operating earnings were $433 million, up 7.7% from Q2 2025.

• Q2 2026 net sales reached $3.997 billion, up from $3.338 billion in Q2 2025.

• North and Central America: Q2 2026 sales $2.006 billion, comparable operating earnings $207 million (10% margin).

• EMEA: Q2 2026 sales $1.242 billion, comparable operating earnings $162 million (13% margin); Benepack contributed $49 million in Q2 sales.

Outlook and guidance

• Guidance for 2026 remains unchanged: EPS growth of 10%+ and free cash flow of $900 million+.

• Effective tax rate expected at ~23.5%; interest expense at $310 million; capex at ~$600 million.

• Net debt to comparable EBITDA targeted at 2.7x by year-end 2026.

• On track to return $800 million to shareholders in 2026, including $600 million in share repurchases and $200 million in dividends.

• Record shipped volume, comparable operating earnings, and EPS expected in 2026.