Ball Corp (BALL) CEO Daniel Fisher on Q2 2022 Results - Earnings Call Transcript

Ball Corp (NYSE:BALL) Q2 2022 Earnings Conference Call August 4, 2022 11:00 AM ET

Company Participants

Daniel Fisher - President, Director & CEO

Scott Morrison - EVP & CFO

Conference Call Participants

Ghansham Panjabi - Robert W. Baird & Co.

Adam Samuelson - Goldman Sachs Group

Christopher Parkinson - Mizuho Securities

George Staphos - Bank of America Merrill Lynch

Anthony Pettinari - Citigroup

John Dunigan - Jefferies

Arun Viswanathan - RBC Capital Markets

Mark Wilde - BMO Capital Markets

Michael Leithead - Barclays Bank

Michael Roxland - Truist Securities

Adam Josephson - KeyBanc Capital Markets

Angel Castillo - Morgan Stanley

Operator

Greetings and welcome to the Ball Corporation 2Q 2022 Earnings Call. [Operator Instructions]. As a reminder, this conference is being recorded Thursday, August 4, 2022.

I would now like to turn the conference over to Dan Fisher, CEO. Please go ahead.

Daniel Fisher

Thank you, Chris, and good morning, everyone. This is Ball Corporation's conference call regarding the company's second quarter 2022 results. The information provided during this call will contain forward-looking statements. Actual results or outcomes may differ materially from those that may be expressed or implied. Some factors that could cause the results or outcomes to differ are in the company's latest 10-K and in other company SEC filings as well as company news releases. If you do not already have our earnings release, it is available on our website at ball.com.

Information regarding the use of non-GAAP financial measures may also be found in the Notes section of today's earnings release. The release also includes a table summarizing business consolidation and other activities as well as a reconciliation of comparable operating earnings and diluted earnings per share calculations.

Joining me on the call today is Scott Morrison, our Executive Vice President and CFO. I'll provide some introductory remarks and business performance commentary. Scott will discuss key financial metrics, and then we will finish up with closing comments and Q&A.

Ball delivered stable second quarter comparable operating results amid ongoing inflation, earnings translation headwinds and regional demand volatility, largely driven by North American customers' retail price-over-volume actions. Global beverage can volumes increased 3.3% in the quarter. Aluminum aerosol volumes increased 11.3%. And we, along with NASA and industry partners, celebrated the successful initial images from the James Webb Space Telescope.

We are actively managing the company to meet the world where it is at by rephasing capital and rebasing costs while also enabling packaging innovation, aluminum supply chains and sustainability initiatives to support long-term growth and significant returns to shareholders. The Russian invasion in Ukraine has had a significant impact on the global business environment. In March, Ball announced that it has suspended future investments in Russia and is also pursuing the sale of its Russian operations.