Ball Corporation reported a $94 million third-quarter net loss after a completed U.K. pension buyout triggered a large noncash charge, even as sales and aluminum packaging shipments increased.
The quarter ended with a $94 million loss, or $0.36 per diluted share, compared with net earnings of $321 million, or $1.18 per share, a year earlier. Sales were $4.19 billion, up from $3.38 billion, and global aluminum packaging shipments advanced 4.7%. Ball announced the results Nov. 3 and filed a Form 8-K with the SEC.
A $475 million noncash charge tied to the completed buyout of Ball’s U.K. defined-benefit pension plan made up nearly all of the $482 million total for business consolidation and other activities. Facility closure expenses contributed to the remainder. Ball also reduced previously recorded tariff contingencies after a favorable final ruling by the U.S. Commerce Department, partly offsetting the total.
On its comparable basis, which excludes specified items, Ball’s net earnings were $293 million, compared with $280 million a year earlier. Comparable diluted earnings per share came in at $1.10, versus $1.03, while comparable operating earnings reached $451 million, up from $440 million. Ball revised the definitions of those measures this year and recast prior-year figures. The gap between the reported loss and comparable profit reflects the items excluded from the comparable figures, chiefly the pension charge.
The prior-year comparison also includes an $86 million gain from the sale of Ball’s Saudi Arabian business in the third quarter of 2025.
For 2026, Ball expects comparable diluted earnings per share to grow by more than 10% and forecasts free cash flow in the range of $900 million. The company said it returned $431 million to shareholders through repurchases and dividends in the first nine months of 2026, and was on track to return at least $800 million by year-end.
