Demand
← 실적 발표
01
02
03
04 05 06
톤
자본지출
A1 A2 A3
BALL
FY2026 Q1
개선
Ball Corporation 실적 발표
Buzzberg 분석
Can winning in every region, taking share
Ball Corporation reported a strong Q1 2026 with global volumes up ~1% and EPS up 22%, exceeding expectations. Management highlighted supply chain tightness, especially in North America and EMEA, and provided a bullish outlook for the rest of the year, raising confidence in achieving 10+% EPS growth. Global volumes up ~1% YoY in Q1, with North America and EMEA (excluding divestiture/other impacts) slightly exceeding expectations; South America volumes down mid-single-digit but expected to recover strongly.
Buzzberg 분석 Can winning in every region, taking share Ball Corporation reported a strong Q1 2026 with global volumes up ~1% and EPS up 22%, exceeding expectations. Management highlighted supply chain tightness, especially in North America and EMEA, and provided a bullish outlook for the rest of the year, raising confidence in achieving 10+% EPS growth. Global volumes up ~1% YoY in Q1, with North America and EMEA (excluding divestiture/other impacts) slightly exceeding expectations; South America volumes down mid-single-digit but expected to recover strongly. 전체 분석 보기분석 접기
Ball Corporation reported a strong Q1 2026 with global volumes up ~1% and EPS up 22%, exceeding expectations. Management highlighted supply chain tightness, especially in North America and EMEA, and provided a bullish outlook for the rest of the year, raising confidence in achieving 10+% EPS growth. Global volumes up ~1% YoY in Q1, with North America and EMEA (excluding divestiture/other impacts) slightly exceeding expectations; South America volumes down mid-single-digit but expected to recover strongly.
- Comparable operating earnings grew 10% YoY, exceeding the 2x operating leverage target; driven by strong cost discipline and improved profit per can.
- Completed BENEPAC acquisition in EMEA, adding capacity in Hungary and Belgium; divested UAC business in Saudi Arabia, creating a headwind to comparables.
- Management remains confident in FY2026 EPS growth of 10%+, FCF >$900M, and capital returns of $800M.
매출$3.603B+8% 전분기 대비
주당순이익(EPS)$0.94+3% 전분기 대비
매출총이익률17.93%보고값
영업이익률9.35%보고값
근거 있는 핵심 내용 6개
지금 중요한 점
이번 발표에서 가장 의미 있는 변화를 정리했습니다.
Demand
April volumes up mid-single digits enterprise-wide
Margins
EBITDA leverage exceeded at 10% operating earnings growth
핵심 내용 3개 더 보기
Supply
Sales contracted ~90% for 2027, 50% for decade
Demand
South America volume rebounds 20% in April
Guidance
Confident in 10%+ EPS growth for full year
보고 기간
보고 실적
| 지표 | 보고값 | 변화 |
|---|---|---|
| 매출 | $3.603B | +8% 전분기 대비 |
| 주당순이익(EPS) | $0.94 | +3% 전분기 대비 |
| 매출총이익률 | 17.93% | 보고값 |
| 영업이익률 | 9.35% | 보고값 |
| 잉여현금흐름 | $-0.938B | 보고값 |
| 자본지출 | $0.161B | 보고값 |
향후 전망
향후 가이던스
| 지표 | 기간 | 범위 | 중간값 | 상태 |
|---|---|---|---|---|
| 잉여현금흐름 | FY2026 | $900M | $900M | 제시 |
| 판매량NORTH_AMERICA | FY2026 | 1%–3% | 2% | 제시 |
| 판매량EMEA | FY2026 | 5% | 5% | 제시 |
| 판매량SOUTH_AMERICA | FY2026 | 4%–6% | 5% | 제시 |
AI, 자본지출 및 수요 분석
경영진 분석
Confident
Management expressed confidence in delivering 10%+ EPS growth, highlighted strong Q1 results, and emphasized resilience and execution despite geopolitical and macroeconomic uncertainty.
투자 및 생산능력
Management discussed capacity expansion, including ramping up the Millersburg, Oregon facility (fully ramped by 2027), acquiring BENEPAC plants in Hungary and Belgium, and plans for a potential new plant on the East Coast backed by a long-term offtake agreement. They emphasized disciplined capital allocation, building only with long-term customer commitments.
외부 신호
공급망 알파 · 3발표 이후 수익률
Enterprise volumes for April 2026 are up mid-single digits, with South America recovering sharply (+20% YoY in April) and erasing all Q1 declines.
근거
“As we begin Q2, at an enterprise level, our volumes, as we finished April, were up mid-single digits...our South America business is up 20% April on April, and that erases all of the declines we saw in Q1”
Ball is volume-constrained in North America and EMEA due to strong growth, driving the need for new capacity (Millersburg, Oregon) and acquisitions (BenePak).
근거
“we are volume constrained in North America, as you know. And we have been volume constrained in Europe because it grew so fast last year, as did North America.”
EMEA segment has the most runway to improve profit per can, as it is currently the lowest among all regions.
근거
“I think the main thing to do is when you take a look at the profit per can, EMEA is our lowest. okay so per the per the regions and they actually have been focused uh for several years and making the biggest strides on it”
방법론 및 범위
경영진 발언만 분석합니다. 검증된 기업 언급 0개를 모두 표시하며, 보고 실적과 향후 가이던스를 분리합니다. 공개 근거는 화자가 표시된 짧은 인용문 8개로 제한됩니다. AI 분석은 불완전하거나 틀릴 수 있으므로 중요한 주장은 원문에서 확인하세요.