Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2024

Quarterly Results of Operations (Unaudited)

Quarterly Results of Operations (Unaudited)

24. Quarterly Results of Operations (Unaudited)

The following table presents selected unaudited consolidated statements of earnings (loss) for each quarter of the periods indicated. This table reflects retrospective changes in consideration of the discontinued operation outlined in Note 4. The company’s quarters in both 2024 and 2023 ended on March 31, June 30, September 30 and December 31.

	First		Second		Third		Fourth
($ in millions, except per share amounts)	Quarter		Quarter		Quarter		Quarter
2024
Net sales	$	2,874	$	2,959	$	3,082	$	2,880
Gross profit	$	477	$	489	$	545	$	480
Earnings (loss) from continuing operations	$	79	$	159	$	193	$	(1)
Discontinued operations, net of tax		3,607		—		6		(29)
Net earnings (loss)		3,686		159		199		(30)
Net earnings attributable to noncontrolling interests		1		1		2		2
Net earnings (loss) attributable to Ball Corporation	$	3,685	$	158	$	197	$	(32)	(b)
Basic - continuing operations (a)	$	0.25	$	0.51	$	0.63	$	(0.01)	(b)
Basic - discontinued operations (a)		11.45		—		0.02		(0.10)	(b)
Total basic earnings (loss) per share (a)	$	11.70	$	0.51	$	0.65	$	(0.11)	(b)
Diluted - continuing operations (a)	$	0.25	$	0.51	$	0.63	$	(0.01)	(b)
Diluted - discontinued operations (a)		11.36		—		0.02		(0.10)	(b)
Total diluted earnings (loss) per share (a)	$	11.61	$	0.51	$	0.65	$	(0.11)	(b)
2023
Net sales	$	2,981	$	3,067	$	3,111	$	2,903
Gross profit	$	441	$	453	$	487	$	483
Earnings from continuing operations	$	128	$	125	$	133	$	102
Discontinued operations, net of tax		52		48		71		52
Net earnings		180		173		204		154
Net earnings attributable to noncontrolling interests		3		—		1		—
Net earnings attributable to Ball Corporation	$	177	$	173	$	203	$	154
Basic - continuing operations (a)	$	0.40	$	0.40	$	0.42	$	0.32
Basic - discontinued operations (a)		0.16		0.15		0.22		0.17
Total basic earnings per share (a)	$	0.56	$	0.55	$	0.64	$	0.49
Diluted - continuing operations (a)	$	0.40	$	0.40	$	0.42	$	0.32
Diluted - discontinued operations (a)		0.16		0.15		0.22		0.17
Total diluted earnings per share (a)	$	0.56	$	0.55	$	0.64	$	0.49

(a) Earnings (loss) per share calculations for each quarter are based on the weighted average shares outstanding for that period. As a result, the sum of the quarterly amounts may not equal the annual earnings per share amount.

(b) The company reported a loss from continuing operations and a net loss attributable to Ball Corporation in the three months ended December 31, 2024, and, as a result, all potentially issuable securities were excluded in the diluted earnings (loss) per share calculations as their effect would have been anti-dilutive. The loss in the fourth quarter is primarily driven by a noncash charge to adjust the carrying value of the aluminum cups business to its estimated fair value less cost to sell, as outlined in Note 4.