BALL - Update - Bev Can Plant Tour: 2026 Guide Reiterated; Operating & Commercial Excellence, Still Early Innings

Research evidence excerpt

BALL - Update - Bev Can Plant Tour: 2026 Guide Reiterated; Operating & Commercial Excellence, Still Early Innings

est Ratio/% Of Float 2.5% produced. In 2027, we believe that EPS growth could approach mid/upper teens given

Dividend/Yield $0.80/1.4% the Benepack acquisition (~3bn units of capacity ramping in 2H26 with ~1.7bn units),

Enterprise Value ($M) $21,976 Millersburg, OR (two-line, 1bn+ unit plant with a key anchor tenant), improved operating

Cash & Equivalents ($M) $730 leverage in North America, an intense focus on Ball Operating Excellence (BOE – see

Total Debt ($M) $7,807 below), and profit per can improvement.

Operating & Commercial Excellence

6 Page Document Through the Ball Business System (BBS), Ball Operating Excellence (BOE), and focus on

EVA, the company’s core financial metric, the company expects to deliver $500mn of savings

by year-end. Much of these savings will be driven by input cost, supply chain improvements,

Reasons for this report and plant productivity. While this is notable, there are further gains to be had from BOE,

which is designed to standardize and optimize KPIs and focused on safety, quality, efficiency,

✓ Management Meeting Takeaways business management systems, and training across the organization while at the same time

✓ Incrementally Positive instilling a continuous improvement culture. Concurrent with BBS, the company deployed

BOE around three years ago in North America, achieving savings worth tens of millions of

dollars, and globally around 18 months ago. That said, it is still early stages in North America

with the company anticipating notable improvements in all its plants with each facet of the

business continuing to be scrutinized for cost take-out opportunities including SG&A, IT,

Finance, amongst others.