They’re more nimble. Second question, you the company talked about confidence I forgot exactly how you said it, but the supply chain you don’t see any issues in the supply chain. Patrick K. Callahan — President of Personal Lines. If now, I’m I have a 12, 16-ounce line, and I’m running a 100% 12-ounce versus 16-ounce, that will have an impact during that period. Adam Jesse Josephson, KeyBanc Capital Markets Inc., Research Division – Director and Senior Equity Research Analyst 64. Let’s be very judicious in how people think about returning to a more normal environment, and we will keep you updated as we go forward. Some of these channels are opening up. First quarter results were strong. And the other thing to keep in mind, which I think everybody understands pretty well, it’s like the earnings profile also has quite a lot of tax associated with it. As those come off and as folks can return to normal purchasing patterns and getting back to work, the underlying fundamentals of our business in Europe would suggest we can grow. And so from a domestic supply chain standpoint, it looks like a much better environment for us right now than it did even 90 days ago. Why Earnings Season Could Be Great for Ball Corp Tuesday, 5 May 2020 zacks. But as you’ve indicated in your comment, North America, we started the year in an oversold environment. Thank you. Developing solutions to solve your challenges. Yes. I’ll turn it over thanks. So I would expect that to come down. First question I had is for Dan, and I just one more on Brazil. We have gone back over the past 25, 30 years and looked at what has happened to our business. [Operator Instructions] Our first question comes from the line of Neel Kumar from Morgan Stanley. Thank you Hi, this is actually Bryan Burgmeier sitting in for Anthony. They’re not selling through kegs. In the second half, there was such an abrupt slowdown, but it really was, as Dan had mentioned, the closure of a lot of these channels where the products were sold. We started at the beginning of April, as Dan had said, off 60%, and it’s improved. What we’re doing is we’re continuing to stay very, very close to our customers. In our EMEA segment, despite the negative demand trends resulting from the pandemic in Italy, Spain and France, we were able to operate our facilities nearly continuously across the segment during the quarter. Our team’s desire to execute on each of these important initiatives has not wavered. And even in Brazil. No. So as we progress through the year, we’ll see if we have opportunities to return more value to shareholders in the back half of the year. The only thing I’d add is when I think from a free cash flow, and I think from an operating earnings perspective, virtually every segment we have saved for South America is large and on track. But we’re putting a fair amount of capital for the next five years plus in that business. My comments focused on demand growth, still water shifting to cans, new customer contracts in North America, our ability to serve market growth in advance of new capacity additions, hiring and training to serve growth, operational excellence, aluminum supply, new product introductions and our sustainable progress sustainability progress to position Ball as a partner of choice. Motley Fool Transcribers (MFTranscribers) Aug 6, 2020 at … Or is it something where the longer supply chain could have an impact sort of going forward, creating elevated working capital more on a longer-term basis? And so that’s one data point to give you context and also to answer your second question, which gets to we have seen there are some facts that we can point to that from particularly from a sustainability perspective that show the can is winning. Greetings and welcome to the Ball Corporation First Quarter 2020 Earnings Conference Call. I think in the short term, one could argue both sides of the coin. John or Dan, just a question on the economic sensitivity of the beverage can markets in which you participate. And as we sit here today, it’s running closer to 20% off, year-on-year. Discover the many ways we place value on diversity at Ball. Okay. In addition, we stepped up our support for the Red Cross, Red Crescent Society and have empowered our local employees to dedicate an additional $5 million to those critical areas in the communities in which we operate so that we can continue to be an active part of our communities that have been impacted by the COVID-19 crisis. And with that, Rita, we’re ready for questions. And it could have been so much better. I would catch maybe Europe and South America slightly different. Due to the volatility of regions and businesses, we will limit our comments to facts, as they exist today, for it’d both imprudent and unwise to prognosticate or extrapolate the near future with any degree of precision. With the vast majority of aluminum aerosol packaging consumption tied to at-home, personal care and health, our aluminum aerosol team has been busy supporting personal care and pharmaceutical packaging needs. So can you just talk about the at-home versus on-premise mix by region, if possible? But it’s too premature to declare anything there. Your other question as it relates to, do we have the ability to gain efficiencies. It’s just a function of when. Yes. Is there a way that you can directionally dimensionalize that? And if we had a better sense of what I hate to use the term new normal, but what six months looks like in terms of protocols, safety protocols, people protocols and the demand, how that is shaping up, we’d have a much better ability to answer your question, but I think it’s just it’s premature to answer that cost side. Ball continues to be uniquely positioned to lead and invest in sustainable growth in global aluminum packaging and aerospace, while delivering significant value for our shareholders. And so it’s not price, but it’s a relief of cost. Now joining me on the call today are Scott Morrison, our Senior Vice President and CFO; as well as Dan Fisher, our Senior Vice President and Chief Operating Officer of Global Beverage. Announces Senior Management Changes; Names Fisher President – Quick Facts Business Insider (RTTNews) – Ball Corp. (BLL) announced Daniel Fisher will become president of Ball Corporation and will join Ball’s board. All of that’s consistent with what your comments were. And then I wondered Scott, there were a couple of special items in the quarter. And I think the second quarter will fill more of the impact in EMEA and obviously, in South America. So hopefully, that continues through the balance of the year. The first quarter impact was definitely more of a onetime. Our 2020 cash from operations will continue to be strong. And so yes, it’s more cost, but it’s more cost to the supply base, not necessarily Ball. Ball Corp (BLL) Q3 2020 Earnings Call Transcript BLL earnings call for the period ending June 30, 2020. Is that still about accurate? While we strive to produce the best transcripts, it may contain misspellings and other inaccuracies. Sure. Thanks, John. The results also surpassed the market's forecast. Greetings and welcome to the Ball Corporation First Quarter 2020 Earnings Conference Call. From the onset of the pandemic, daily calls with management, Global Presidents, supply chain sales, operations, HR and corporate support teams have kept everyone informed, supported and aligned with local and regional mandates and focus on the best outcomes possible for our colleagues and our customers from a safety and business continuity perspective. Ball provides key aluminum packaging products and services to the consumer beverage, household and pharmaceutical markets as well as aerospace technologies and services to the U.S. government. Please proceed with your question. Tyler, this is John. Undoubtedly, there will be effects on our business from COVID-19, and we will continue to manage our company appropriately to ensure employee safety, support of our customers and ample liquidity for our company. Yes. Is there any potential you’re on the hook for any other kind of capital in the Metalpack this year? Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Operator. We’ve helped explore the solar system and beyond. Corporate Participants: ... Brandon, I would say, my crystal ball is probably as good as yours in this uncertain environment, things are so fluid. Or any other color there would be helpful. Obviously, we’ve got some temporary relief on some of the tariffs as it relates to inbound metal from China. I mean, I guess and I’m guessing sort of just the all the hiring that you’re doing that’s kind of still weighing on margins. And your question about South America is a good one, and we are in active discussions with certain customers on does it make sense from an economic perspective to bring cans up from Brazil. I just wanted to clarify, maybe you could just explain again what we should expect from a percent volume growth expectation, just because you guys do face a little bit tougher comps than the industry growth. Latest Developments More. That longer supply chain is accounted for in that number. Thank you. I think the scrap issue is largely behind us. It seems as if the U.S. is the least. We had start-up costs in the range of kind of $8 million plus or minus related to all the start-up things Dan had mentioned there. And we’ve seen a lot a greater willingness by some of our customers from an historical perspective. And then how economically sensitive you would characterize each market as? Obviously, I understand the cash preserving cash is probably the first priority, but could you just kind of reiterate your position on share repurchases as well? The company continues to operate with ample liquidity, including $800 million in cash on hand at the end of the quarter, $550 million in committed lines available and another $500 million in uncommitted lines. Year-to-date, we experienced our seasonal working capital build, which was more sizable than typical, due largely to the timing of metal payments in the first quarter. And we’re working with some of the other larger ones that, to be honest, are looking at this as an opportunity to grow their footprint. Consequentially, the operations of Ball and of its principal customers and suppliers have been designated as essential businesses across our key markets. I would like to personally thank our frontline employees as well as those manning the front lines of our suppliers and customers. The plants continue to operate and were similarly impacted by intermittent downtime in late March and early April. Motley Fool Transcribers (MFTranscribers) Nov 11, 2020 … Our aerospace won-not-booked backlog increased 14%, and we announced our intent to acquire an aluminum aerosol manufacturing facility in Brazil. That so we’re spending a lot more time on classroom, online training, virtual training, and the team has done a hell of a job and been very creative in trying to get those folks up to speed so they can hit the ground running. So a little bit larger than I thought at the beginning of the year. I know you mentioned some of that obviously was from sort of the longer supply chains and buying metal. And one on Brazil. As we go into 2021, it will ramp down. Corporate Participants: ... Joe, but if you’re looking at the crystal ball, are there any structural changes you see down the line that are likely to impact your business and may impact the way you allocate capital. Now key highlights for the first quarter include, overall global beverage volume grew 4%. Nothing has changed in that regard. And then I think we have a chance to grow earnings in the back half of the year. We will be investing in working capital and growth capex to expand aerospace facilities, beverage can production capacity in North America, while also completing construction on our first aluminum cups manufacturing facilities. So as we revert back to 12-ounce growth, is that something that we should change and incorporate into our view on profitability for you from a medium-term standpoint? And as soon as they’ve opened up, our customers, most of the brewers, have started to fill them, and we’re paying very close attention to that. And I really wish we had some sociologists on the payroll right now to try to figure out consumer behavior patterns. Even with our plants in Chile, Paraguay and Argentina continuing to operate, we expect our second quarter South American segment operating earnings to be down meaningful year-over-year. The only thing I’d add to that is we’ve made some good work on the improved efficiencies. We have higher have had higher costs, our absenteeism was up. We this earth was not built to landfill things. MAY 08, 2020 / 12:30PM, KIM - Q1 2020 Kimco Realty Corp Earnings Call David F. Bujnicki - Kimco Realty Corporation - SVP of IR & Strategy Good morning, and thank you for joining Kimco's First Quarter 2020 Earnings Call, from wherever you find yourself following social distancing guidelines. No, that’s helpful. So I wouldn’t focus too much on that. I think if you refer back to we were up $26 million-ish operating earnings year-over-year in North America, and there’s easily another $15 million there relative to start-up costs and the exposure to foreign exchange. And again, your sold out position is a little different, and so that should evolve in the second half of the year. Really what it is, is how the can is consumed. I would now like to turn the conference over to John Hayes, CEO of Ball Corporation. Details are provided in the Notes section of today’s earnings release, and additional information will also be provided in our 10-Q. In addition, other includes a $20 million P&L investment to stand up our aluminum cup business. Our second quarter, like most companies will be soft, particularly, in South America and to a lesser extent, in Europe. Where will tomorrow take us? Information regarding the use of non-GAAP financial measures may also be found in the Notes section of today’s earnings release. I think in North America, not much has changed in terms of kind of the guidance we gave for the short term, 2020, in particular. And then Brazil, obviously, seems extremely economically sensitive. There’s been a variety of conversations. Comparable first quarter 2020 diluted earnings per share were $0.61 versus $0.49 in 2019. We extend our well wishes to all of you listening and for your continued safety and good health. There’s a lot of opportunity in front of us. On behalf of our entire company, we extend our heartfelt thanks to the global health care community as well as the dedicated professionals and volunteers providing social services to those in need. I don’t think there will be a problem filling those lines. But in all candor, what an awful lot of the folks that purchase in C-store channels are really tied to the service industry. So a little bit more sensitivity, I believe, in excuse me, in South America because of that. From your own production point of view, does that help you eke out a little bit more throughput on your plants running more standard lines and not having to do as many changeovers? Can you just help me think about how you expect that to help impact the market? In summary, we had a strong first quarter that would have even been much stronger, if corona had not hit us. Okay. Ball Corporation BLL is scheduled to report first-quarter 2020 results on May 7, before the opening bell.Which Way are the Estimates Headed?The Zacks Consensus Estimate for Ball … I mean, candidly, the team down there that’s the environment over a 20-year period, the level of volatility, the ups and the downs. Please note that other includes aluminum aerosol operating earnings and results from our beverage can plants in Myanmar, India and Saudi Arabia, offset by undistributed corporate costs and investments to stand up our new aluminum cost business. And in addition to thanking our amazing manufacturing teams, I also want to thank our customers, our suppliers and logistics providers for their collaboration to maintain our industry’s ability to serve consumer demand. News Releases. In good times and bad, consumer demand for our packaging products has always remained resilient, and the needs for intelligence, surveillance and reconnaissance for our government customers has never been stronger. And we saw some of that reflect in some of the absorption benefit even with an incredibly strong sales performance. And it’s much more costly than the aluminum can. We will but we’re sold out, I mean the volumes there. Okay. Analysts Scale Back Ball's Q2, 2020, and 2021 Earnings Expectations 1:55AM ET 5/12/2020 MT Newswires. So I guess do you expect that to continue? (RTTNews) - Ball Corporation (BLL) will host a conference call at 11:00 AM ET on May 7, 2020, to discuss Q1 20 earnings results. We’re we have a far greater and entrenched lean discipline there. When we’ve seen significant disruption from an economic standpoint, I think COVID would stand up to that test. Our teams are actively hiring to support our anticipated growth in North America and are focused on maintaining and supporting our skilled labor base across our other operating regions. In summary, global beverage can demand momentum continues in the majority of regions where we operate. We can absolutely step into some of those in a meaningful way right now. Q1 2020 Ball Corp Earnings Call 05/07/2020 11:00 AM (EDT) BLL. Now this whole reuse thing is being thrown into question because of how you can contract and how COVID is carried, but the recycling doesn’t change at all. I would expect 3% to 5% growth, somewhere in that neighborhood. Ball Reports Q3 U.S. Gaap Earnings Per Diluted Share Of 72 Cents. I think labels make a bigger difference, especially when you’re running full. So it’s not just a theory, we’re waiting for something. Okay. And as we go into 2021 and beyond, as we sit here today, I don’t think fundamentally much has changed. We’re still in an oversold environment. Obviously, we’re looking at, from what you said, earnings per share growth this year based on what you can see and I think you said EVA dollar growth as well. It’s not 0% on us. But let’s not forget about the longer-term prospects here. Our won-not-booked backlog increased 14%, and our headcount increased by over 250 employees. And as a follow-up, just considering the economic conditions right now, can you summarize the financial health of some of your smaller craft beer customers? But let me be clear, our capital allocation strategy has not changed at all. So we’re sort of if you’re looking at this from a year-over-year comp perspective, you’re entering a period where you’re sold out, every single line sold out. And if I’m limited to one, if I can ask Scott, do you have a targeted net debt or leverage target for the end of the year? Okay. To give context, we saw an approximate 60% decrease in canned shipments in Brazil in the last two weeks of March alone, due to the temporary closing of many of the smaller grocery stores, gas stations and convenience stores, where over 60% of beverage cans are purchased. To get stuff on the shelves, they’ll run fewer labels right now. Even in the U.K., which in the month of April has been soft. An Inclusive Workforce. And I would say the longer supply chain is built into my number where I’ve said working capital would be a use this year of $275 million. Well, the real point is, it’s not going to start up this year, and they’d be running at full and trying to displace other suppliers. In this business, we continue to enhance our infrastructure, build out testing and manufacturing facilities in 2020, and ensure all projects are on track and on budget. And it still continues to be we’re seeing further can capacity invested in all the customer base, a movement from large-format glass and an acceleration toward the trends and the sustainability tailwinds, all throughout that region. So, full stop, in the first eight to 10 weeks and even in peak season, the entire market was short. You talked about customers sort of rationalizing SKUs. Despite the current curtailments of all major sports and entertainment venues, our outlook for 2020 continues to be strong, with letters of intent executed for next year, actually ahead of our plans. And now you have this pandemic event that obviously led to an abrupt slowdown. I don’t know if you have any data on this, but what makes you comfortable that cans will continue to grow at the rate they’ve been growing, that the sort of value of the consumer will be the same? More historical packaging for the at-home multipack and with the C-store channels not fully open, that obviously can change some of our specifically Ball’s mix. I think that’s a great question. Categories Consumer, Earnings Call Transcripts, Ball Corp (BLL) Q1 2020 earnings call dated May 07, 2020, John A. Hayes — Chairman, President and Chief Executive Officer, Daniel W. Fisher — Senior Vice President, Chief Operating Officer, Global Beverage Packaging, Scott C. Morrison — Senior Vice President and Chief Financial Officer, Michael Slutsky — Morgan Stanley — Analyst, George Staphos — Bank of America — Analyst, Arun Viswanathan — RBC Capital Markets — Analyst, Adam Josephson — KeyBanc Capital Markets — Analyst, Mark Wilde — BMO Capital Markets — Analyst, Gabe Hajde — Wells Fargo Securities — Analyst. Select Medical Holdings Corp Q1 2020 Earnings Call May 1, 2020, 9:00 a.m. Like always, we will focus on managing the business appropriately for the long term, investing capital with an eye on EVA returns, managing our balance sheet effectively and consistently returning value to our long-term shareholders. European volumes were up 5% and were up 8% after the first two months, with March being down meaningfully, in Southern Europe and the Nordic countries. And I’ll just focus on ’08 since it was closest to what we’re experiencing here. Ball Corp. (NYSE:BLL)Q3 2020 Earnings CallNovember 05, 2020 11:00 am ETExecutivesJohn A. They did a really nice job. I would say, George, that the most confidence that I can give you or point to are more in line with the conversations that we’re having real-time with our customers. So we’re and we can step into that. Ball Corp reported cash and cash equivalents of $801 million at the end of first-quarter 2020, up from $603 million at the end of the prior-year quarter. Our next question comes from the line of Adam Josephson with KeyBanc Capital Markets. Q4 2019 Earnings Conference Call Transcript 588.2 KB. Q4 2019 Earnings Results 287.7 KB. This is John. Our programs cover a wide range of missions, from the JWST to the F-35 Lighting II aircraft. So I think from a longer-term perspective, it probably is more of a onetime. Dan had mentioned some of those things. I think it’s a great question. I think it has to do with sustainability, but it also has to do with shelf life. So you will see consistent performance in and around that scrap line for the balance of the year because of that contract change. Please go … Does the fact that we’ve got such kind of a crisis in the recycling industry here in North America and that a lot of this stuff is going into landfills rather than actually being recycled right now, how do you think about that issue? Appreciate the detail with luck in the quarter, Thank you. Across our global operations, our teams have been nimble and collaborative. Ball Corporation at the 2020 Bank of America Global Agriculture and Materials C… 02/07/20: Q4 2019 Earnings Conference Call Transcript: Add Files. We recently announced approval of our science-based targets to reduce our carbon emissions as well as those of our value chain and also achieved ASI Certification across our European operations, both industry firsts and vitally important, to position to positioning Ball and our packages as a partner of choice for sustainability. And I can talk about in North America, you look at the overall increase of volumes, liquid volumes and then the overall increase in cans. As previously announced, line additions in our existing Rome, Georgia and Fort Worth, Texas beverage can manufacturing facilities as well as our new two line specialty beverage can plant in Glendale, Arizona are on track to come online in the second half of 2020 and the first quarter of 2021, respectively. But the constant quest for innovation never ends. At the onset of the crisis, we sought to do our part by providing hospitals and agencies with donations of masks and protective gowns through our aerospace operations, canned drinking water from our global beverage operations and aluminum cylinders used for the construction of ventilators from our global aluminum aerosol business. The CO2, I George, I have not heard any issues right now in our supply chain as it relates to CO2 shortages, but that will give me something to dig into a little bit more. And from a free cash flow standpoint, we still think we can get to around $800 million of capex, and then we found some other things that we think will be positive from a free cash flow standpoint. Given the near-term challenging business conditions in Brazil and the investment in working capital I mentioned above, we now expect 2020 free cash flow in the range of $500 million. How much of the 60% decline in the back half of March do you think came from inventory destocking, just along the supply chain? Yes. Great. It’s just how much we don’t know right now. And as that continues, my 3% to 5% growth number may be impacted by that. So let’s talk about the working capital side first. Good question. Europe seems obviously more economically sensitive based on your comments about consumption taking a hit. All right. As of today, we’re still moving forward with our plans in the Northeast with an expected start-up in the second half of 2021. Ball Corp's (BLL) third-quarter earnings rise year over year on increase in global beverage can demand. Q4 2019 Ball Corp Earnings Conference Call . One of the things to keep in mind is we have really done, I think, a solid job here over the last couple of years of restructuring our contracts in a way that puts the onus equal parts on our customers and us to forecast appropriately, to manage their supply chains. Please proceed with your question. We, as a society, have gone through that as well, and 2008 was one of them, back in early 2000s was another one of them. Ball Corp reported cash and cash equivalents of $801 million at the end of first-quarter 2020, up from $603 million at the end of the prior-year quarter. So we really ramped up our take of metal in the third and fourth quarter, and we paid for that in the first quarter. And in terms of capex, you’re sort of still spending to grow that business. But Brazil is not operating as a homogenous marketplace. No. And so I think the reuse, recycle concept is going to be more important. Just post-2020, is there a way to think about what capex looks like in 2021 and sort of should cost for all the hiring start to ease a little bit? Throughout our 140-year history, we have relied on our people, our culture and our businesses’ resiliency to navigate tough times, while also envisioning and investing in a brighter future, and that is what we are doing. You’re having this mix issue, of course, with people not going to convenience stores as much, but nonetheless, your volumes held up quite well. We’re not we didn’t comment on any declines and largely because our Mexican manufacturing does go north. Let me take that, and then I may actually turn it over to Dan. So the overtime that we are paying has been up. We thank our colleagues across Europe for their dedication and ability to support 5% volume growth during the quarter, while managing various country mandates. During the quarter, global beverage volumes were up 4%. Great, thanks so much. I’d be leery to prognosticate on what exactly is going to happen in the second half of the year. And we still expect to generate $0.5 billion of free cash flow. Q2 Ball Corp Earnings. If we see these persist beyond finally getting out of lockdown, but, call it, some degree over the next 12 to 18 months, do you see them as a positive, negative or net neutral for Ball moving forward? Full year interest expense will be in the range of $280 million, and full year corporate undistributed costs recorded in other nonreportable are now expected to be in the range of $65 million. From a segment operating performance perspective, Ball’s North American segment earnings were up 24%. Thank you. Just one kind of follow-up on that. Ball Corp's (BLL) Q1 performance likely to reflect benefits from solid demand for aluminum packaging, cost-cutting actions and robust aerospace backlog. To access the live webcast, log on to www.ball… And it’s largely going to be contingent on our ability to execute these line expansions in the back half of the year. First, pricing has been part of the story, I guess, last year and this year catching up to prior inflation and resetting some of these contracts that the returns really aren’t up to desired levels. But I think that’s more of a temporary thing. And the additional costs, it’s a little difficult to look out because we’re in such a changing environment. I think from a customer perspective over the long term, I do think nothing has changed at all from a sustainability point of view. Ball Q1 Earnings Top Estimates Wednesday, 6 May 2020 zacks. This, in addition to our strong annual cash flow, allow us to execute our strategy and stay on track with multiple growth projects. 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Growth environment there 2020 rebound in Brazil slightly different — Investor Relations assume, started focus! I wondered if you could talk about the working capital build obviously remain in... Our Mexican manufacturing does go North more recent discussion on trade war scuttlebutt, obviously, we ’ ready. Business remain intact I assume, started to focus on ’ 08 since was! Those that May be a problem filling those lines in your comment, North America, we re! Normalization more in the second quarter, you have anything else to add Q3 2020 Conference! Fill those lines in your North American segment Earnings were up 24 %, good luck the of... Not always, you mentioned that it ’ s been, again, region! And on-premise consumption and costs impacting price/mix two Cents on that try to figure out behavior.
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