Ball said net sales in 2023 were $1,320 million lower than in 2022, citing a $554 million decrease from the sale of the Russian aluminum beverage packaging business, a $514 million decrease from lower volumes and a $305 million decrease from lower sales prices.

1. 01

   Ball said net sales in 2023 were $1,320 million lower than in 2022, citing a $554 million decrease from the sale of the Russian aluminum beverage packaging business, a $514 million decrease from lower volumes and a $305 million decrease from lower sales prices.

2. 02

   Ball Corporation said net earnings attributable to Ball Corporation in 2023 were $12 million lower than in 2022. The company cited a $129 million increase in interest expense and a $124 million decrease from lower volumes as factors. Total interest expense was $459 million in 2023 compared with $330 million in 2022.

3. 03

   Ball said cash provided by operating activities in 2023 was $1,863 million, cash used in investing activities was $1,053 million (capital expenditures of $1.05 billion), and cash used in financing activities was $662 million. Interest-bearing debt at year-end 2023 was $8.62 billion.

4. 04

   Ball said it completed the divestiture of its aerospace business on February 16, 2024. The company said it plans to use $2.00 billion of the sale proceeds to repay debt and $2.00 billion to accelerate shareholder returns through share repurchases.

Key figures

Fiscal year ended December 31, 2023

Revenue

$14.0B

Operating income

$1.3B

Net income

$711M

EPS

$2.23

Operating cash flow

$1.9B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.