The beat is positive but margin compression and unchanged guidance limit upside. Watch for cost trends and full-year FCF delivery; the stock may see a modest positive reaction but not a breakout without guidance raise.
Price Chart
Executive Summary
Ball Corp reported Q2 2026 comparable diluted EPS of $1.03, beating consensus of $0.99 by 4.3%, and revenue of $4.00B, beating $3.68B by 8.6%. Global aluminum packaging shipments grew 4.3% YoY, but gross margin compressed from 19.4% to 17.4% on higher costs. Guidance for 10%-plus comparable EPS growth and >$900M free cash flow was maintained.
Key Financial Metrics
Key Facts
- Comparable diluted EPS $1.03 vs $0.90 YoY, +14.4%
- Revenue $3.997B vs $3.338B YoY, +19.7%
- Global aluminum packaging shipments +4.3% in Q2
- Gross margin declined to 17.4% from 19.4% YoY
- Guidance maintained: 10%-plus comparable EPS growth, FCF >$900M in 2026
- Returned $222M to shareholders YTD via buybacks and dividends
Financial Impact
EPS beat consensus by $0.04 (4.3%), revenue beat by $317M (8.6%), but gross margin contracted 200bps
Risk Factors
- Gross margin compression from higher aluminum costs and plant start-up expenses
- Negative operating cash flow of -$169M in H1 2026 due to working capital build
- Geopolitical and tariff uncertainties affecting EMEA and South America operations
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-090074 |
| Document: ball-20260804x8k.htm | 0001104659-26-090074 |
| Document: 0001104659-26-090074-index-headers.html | 0001104659-26-090074 |
| Document: 0001104659-26-090074-index.html | 0001104659-26-090074 |
| Document: 0001104659-26-090074.txt | 0001104659-26-090074 |
| 8-K Data (Synthetic) | 0001104659-26-090074 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 9, 2026 23d ago | 8-K | $60.29 $61.26 | ▲ +1.61% | ▲ +2.27% | $56.37 (−6.50%) |
Aug 26, 2026 5w ago | Institutional Cluster | $64.05 $63.30 | ▼ −1.17% | ▼ −1.05% | $56.37 (−11.99%) |
Aug 4, 2026 8w ago | 8-K | $63.75 $62.90 | ▼ −1.33% | ▼ −1.23% | $56.37 (−11.58%) |
Jul 6, 2026 12w ago | Press Release | $62.66 $60.46 | ▼ −3.51% | ▼ −4.06% | $56.37 (−10.04%) |
May 5, 2026 21w ago | 8-K | $57.11 $57.72 | ▲ +1.07% | ▼ −0.92% | $56.37 (−1.30%) |
Mar 17, 2026 28w ago | DEFA14A | $59.90 $60.75 | ▲ +1.42% | ▲ +2.13% | $56.37 (−5.89%) |
Mar 2, 2026 30w ago | Insider Cluster | $66.42 $62.39 | ▲ +6.07% | ▲ +4.86% | $56.37 (+15.13%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access