Financials: Ball reports US$32M Q4 2024 net loss, Graphic Packaging’s net income drops to US$138M

USA – Ball Corporation, the multinational packaging giant, has reported a net loss for the fourth quarter (Q4) of 2024, alongside a slight drop in sales.

For the quarter ending December 31, 2024, Ball recorded sales of US$2.88 billion, a marginal decline from US$2.9 billion in the same period the previous year.

On a generally accepted accounting principles (GAAP) basis, the company reported a net loss of US$32 million, a sharp contrast to the US$154 million net income recorded in Q4 2023.

Despite the loss, Ball’s comparable earnings per diluted share improved to US$0.84, up from US$0.78 in Q4 2023.

The company’s sales totaled US$11.79 billion for the full year, slightly down from US$12.06 billion in 2023. However, net income surged to US$4 billion, significantly higher than the US$707 million reported the previous year.

In Q4 2024, Ball’s comparable operating earnings stood at US$90 million on sales of US$826 million, compared to US$80 million on sales of US$739 million in Q4 2023.

The beverage packaging segment in South America also posted growth, with comparable operating earnings reaching US$296 million on sales of US$1.95 billion, up from US$266 million on US$1.96 billion in 2023.

Ball Chair and CEO Daniel Fisher noted the company’s resilience, “We delivered strong full-year and fourth-quarter results while returning US$1.96 billion to shareholders.

“Our leaner operating model and strong financial position allowed us to meet our 2024 targets despite challenges in certain markets. We remain focused on advancing sustainable aluminum packaging, unlocking efficiencies, and driving long-term value creation.”

Graphic Packaging sees net income decline amid sales drop

Consumer packaging solutions provider Graphic Packaging also reported declining Q4 2024 earnings. Net income fell to US$138 million from US$196 million in the same quarter last year.

The decline was impacted by a US$41 million net charge from special items and amortization of purchased intangibles, compared to a US$34 million charge in Q4 2023.

Adjusted for these factors, net income for the quarter stood at US$179 million (US$0.59 per diluted share), down from US$230 million (US$0.75 per diluted share) in the previous year.

Sales for Q4 2024 totaled US$2.09 billion, a 7% decline from US$2.24 billion in Q4 2023. The company attributed this drop to a US$103 million unfavourable impact from the divestiture of its Augusta, Georgia, bleached paperboard facility, lower paperboard prices and volumes, and a US$22 million decrease in sales from packaging operations.

Foreign exchange fluctuations and other acquisitions and divestitures further contributed to a US$29 million adverse impact.

EBITDA for Q4 2024 declined by US$68 million, reaching US$376 million. Full-year results showed a net income of US$658 million (US$2.16 per share) on sales of US$8.8 billion, down from US$9.42 billion in 2023.

Graphic Packaging Holding President and CEO Michael Doss remained optimistic about the company’s long-term prospects, “In 2024, we demonstrated the strength of our business model, maintaining stable margins and driving innovation in consumer packaging.

‘Our strategic investments in capabilities and competitive advantage position us for sustained value creation.”

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